Half of small business owners don’t advise starting a business in current economy, survey says

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Buying through us may earn us a commission, which supports our work.Only 18 per cent of small business owners would advise someone to start a business in the current economic environment, while 50 per cent advise against it, according to a survey by Canadian Federation of Independent Business (CFIB).THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountIn a survey released Monday, CFIB said 88 per cent of those who say that now is not a good time to start a business cite the high cost of doing business as the reason. It said 86 per cent cite economic uncertainty, 65 per cent say the tax burden is too high and 53 per cent point to the heavy government regulatory burden.CFIB executive vice-president Corinne Pohlmann said it’s no surprise small business owners are pressing pause on hiring, investment and expansion as they wait and see what comes next.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“Small business owners have spent years navigating rising costs, and now the tariff war with the U.S. is piling fresh uncertainty and additional costs on top of already weak consumer demand and low small business confidence,” she said.The poll also said that one in five, or 22 per cent, of small business owners describe their business to be in a “weak” or “critical” condition.Pohlmann said the government has taken positive steps towards strengthening Canada’s economy by making immediate expensing permanent and expanding the deduction to more assets, and strongly encourage it to build on that momentum.The business group called on the federal government to introduce concrete measures that would lower costs and improve small business competitiveness, including a reduction of the federal small business tax rate from nine per cent to six per cent.It also called to increase the small business deduction threshold to $700,000.Other measures include returning counter-tariff revenues to businesses directly affected by the U.S.-Canada trade war, and bringing in a two-for-one rule for federal regulations to jumpstart regulatory modernization.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. 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