Regina, August 23, 2022 - Following months of lobbying from the Canadian Federation of Independent Business (CFIB) on behalf of Saskatchewan small businesses, CFIB is pleased to see the affordability plan announced by the Saskatchewan government today. This is a positive step toward recovery and welcome news to the province’s small businesses.
Our latest survey data indicates that these measures are needed: only half of Saskatchewan small businesses are back to making normal sales, and the majority are still facing significant pandemic-related debt and stress. Many business owners have been left wondering if they will ever be able to recover, or if they should simply close their doors permanently. In fact, one in six Saskatchewan small businesses owners report they are actively considering closing.
With 80 percent of Saskatchewan small businesses owners indicating ‘government-imposed cost increases’ have been creating significant challenges for their businesses, CFIB’s message to the Saskatchewan government has been clear: cost relief has become increasingly urgent for small business owners.
For several months, CFIB has been calling on the Saskatchewan government to:
- Suspend the collection of the small business corporate income tax until more small businesses have had a chance to recover;
- Halt plans to expand the PST in October, as this move will hurt many of the businesses most seriously impacted by pandemic restrictions; and
- Provide cost relief (e.g., rebates or temporarily suspending the collection of the provincial fuel tax).
We believe the affordability measures announced today such as the changes to the planned PST expansion to exempt gym memberships, and the plan to hold the small business tax rate at 0 per cent until 2024 will aid small businesses on their road to recovery. We are glad to see the Saskatchewan government recognize the importance of small business to our local economy and we hope to see the province continue to take steps to help create an environment where small businesses can survive and thrive.
For media inquiries or interviews, please contact:
Brianna Solberg, CFIB
306-713-8071
Brianna.solberg@cfib.ca
About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 95,000 members across every industry and region, including 4,300 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.
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