CFIB President, Dan Kelly
2023 Holiday Message
As we close out another challenging year, I thought I’d share a few thoughts on what may be in store for independent businesses in the months ahead.
Our recent Business Barometer suggests small business confidence is at its lowest level since April 2020. But there are some bright spots on the horizon, including signs that inflation and high interest rates may begin easing in the months ahead.
CEBA Loans
Throughout the year, I’ve shared regular updates on our campaign to extend the CEBA repayment deadline. And while government did extend the ultimate deadline to repay the loan until the end of 2026, the deadline to protect the forgivable portion of up to $20,000 is just a few weeks away on January 18, 2024.
Our request to push the forgivable deadline to the end of 2024 gained the support of all 13 of Canada’s Premiers and three of the five federal parties. Unfortunately, the government has so far failed to listen.
While we continue to fight for a longer extension, it is important that every business owner look at the options available to them right away, including applying for a bank refinancing loan before January 18. CFIB has prepared a summary of the various options, and as always, our Business Advisors are on standby to help you.
Credit Card Fees
Perhaps our biggest win of the year for our members was the announcement of a significant reduction in Visa and Mastercard fees. In the fall of 2024, interchange fees will drop by 27% for most of our members, which will be welcome relief. After years of lobbying on this file, Deputy Prime Minister Chrystia Freeland asked CFIB to join in the announcement which took place at a CFIB member location in Brampton, Ontario. More details on that are available on our website.
Carbon Tax
And as we move into 2024, we will be gearing up our campaign for fairness under the federal carbon tax. In Ontario, the Prairie provinces and Atlantic Canada, businesses pay about 40% of the costs of the carbon tax, but get virtually nothing back in rebates. In fact, Ottawa is sitting on $2.5 billion that has been collected since 2019 despite a promise to return it to small businesses. We are calling on the federal government to fix the system or scrap the tax altogether. We’re asking you to join us in telling Ottawa to fix the carbon tax now.
And with rates set to rise again in April right across Canada, CFIB is calling on all governments to press pause on carbon pricing increases.
100,000 Members
Finally, I want to note that over the next few weeks, CFIB expects to hit a new membership milestone, reaching 100,000 members across Canada. Despite the pandemic, we have had a growing number of small businesses join our ranks, adding to the clout we carry in Ottawa and in provincial capitals. If you know of another business owner who would benefit from a CFIB membership, the greatest compliment you could pay us is to introduce us to them.
Thank you for all you do for your community and for our country. I want you to know that CFIB always has your back – we never give up and we never go away!
Merry Christmas, happy Hanukkah, happy holidays and best wishes in 2024!
Dan Kelly,
President and CEO
Our Business Advisors had another incredibly active year, supporting tens of thousands of calls, emails, and live chats from members. About 50% of these calls are on HR issues as the vast majority of our members do not have an in-house HR specialist. Most often, it falls to the business owner to try to figure out how to navigate the issues related to hiring and recruiting, orientation and training, discipline and termination. In addition, small business owners often struggle to ensure they have all the policies and procedures in place required by government.
As a result, CFIB has been investing heavily in our ability to provide HR support over the past several years. We now have 30 HR specialists that can answer your questions on these important matters. We are calling it HR Now! And I’m pleased to report that 80% of calls are answered live in real time and those that leave a message get their calls returned within 24 hours. Please consider giving it a try the next time you have an HR matter that needs attention.
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