Sask. small businesses concerned about provincial economy, but few believe these concerns will receive attention during election campaign

 Reducing the tax burden and lowering fuel and energy costs are among the top priorities for Saskatchewan small businesses 

Regina, August 8, 2024 – A dismal 4% of Saskatchewan small businesses say they are very confident their concerns and priorities will receive attention during the campaign leading up to the October 28th provincial election, according to the Canadian Federation of Independent Business (CFIB)’s recent pre-election survey. 
 
Reducing the overall tax burden is the top priority for (75%) of Saskatchewan small businesses, followed by reducing fuel and energy costs (67%), balancing the budget and paying down provincial debt (68%), improving public infrastructure (64%), and addressing social concerns (crime and public safety, etc) (57%).   

“Affordability is the top priority for small business owners at this time,” said Brianna Solberg, CFIB Director for the Prairies and Northern Canada. “On top of decreased revenues and sky-rocketing operating costs, many small business owners continue to carry significant pandemic-related debt. That’s why we’re calling on all parties to commit to addressing the needs of small businesses and introduce policies that will provide cost relief and improve affordability.” 

 
The survey also revealed that of the Saskatchewan small business owners who plan to vote in the upcoming election, 60% have decided who they will vote for, while 40% have not. Therefore, to secure the small business vote, party leaders must do a better job of outlining their plans to aid small firms and encourage economic growth. 

“The next provincial government has the opportunity to either help, or hinder small businesses and overall economic growth,” said Tyler Slobogian, CFIB Senior Policy Analyst. “High inflation, the increased costs of rent and insurance, labour shortages, and increased crime and safety concerns should all be considered as the next government sets its policy agenda.”  

Among other recommendations detailed in CFIB’s Saskatchewan Election 2024: Small Business Priorities document, small business owners are calling on the next government to:

• Freeze or cut the small business corporate tax rate (i.e. hold at 1% or reduce to 0%);
• Reduce or suspend provincial fuel taxes;
• Remove the PST on commercial property insurance and dine-in restaurant meals;
• Introduce a securing small business rebate program (Similar to the rebate in British Columbia) to help businesses cope with increased costs due to crime and vandalism.
  • Avoid SaskPower or SaskEnergy rate increases to help with rising utility costs;
  • Continue to take action to address labour shortages; and
  • Once minimum wage reaches $15/hour, return to a stable predictable formula for any future increases.

CFIB’s Saskatchewan Election 2024: Small Business Votes website has all the resources and information business owners need in preparation for election day.   

For media enquiries or interviews, please contact: 

Brianna Solberg

CFIB Provincial Affairs Director

Brianna.Solberg@cfib.ca

(306) 713-8071  

About CFIB 

The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 97,000 members across every industry and region, including 4,000 in Saskatchewan. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.