Nearly 20% of Canadian small businesses may close from tariffs, CFIB says

[CdnFox]

Nearly 20% of Canadian small businesses may close from tariffs, CFIB says

That's 6 months.. four in 10 (38 per cent) said they would last less than a year.

It cannot be overstated how devastating that would be. Small and medium sized business makes up the lion's share of our economy. 

They keep saying a bad deal is worse than no deal but no deal IS  a bad deal!!  This would drive us into a very nasty recession. And 6 months. that's like Christmas. 

Carney will barely have a budget out by then, never mind a plan to tackle this. 

[paxamericana]

5 hours ago, CdnFox said:

It cannot be overstated how devastating that would be. Small and medium sized business makes up the lion's share of our economy. 

Oh dear, “One of the ways businesses are staying afloat is by “absorbing” the higher costs from tariffs” .

Turns out Canada is writing Trump a check. Just so you know, it didn’t need to be this way. You all could have 51st…

[Gaétan]

Trudeau must be scandalized by the increase in the price of Viagra.

[Legato]

1 hour ago, Gaétan said:

Trudeau must be scandalized by the increase in the price of Viagra.

How do you know it's increased?

[Aristides]

3 hours ago, paxamericana said:

Oh dear, “One of the ways businesses are staying afloat is by “absorbing” the higher costs from tariffs” .

Turns out Canada is writing Trump a check. Just so you know, it didn’t need to be this way. You all could have 51st…

The way I read it the main the problem is our counter tariffs which are driving up business costs by making their production costs more expensive. American businesses that rely on imported materials or components to make their products will be having the same issue.

[CdnFox]

55 minutes ago, Aristides said:

The way I read it the main the problem is our counter tariffs which are driving up business costs by making their production costs more expensive. American businesses that rely on imported materials or components to make their products will be having the same issue.

I can see how you might read it that way and maybe that's a component of it but they're pretty specific about it being the outgoing tariffs for America and China

Although many goods listed under the current trade agreement, known as the Canada-United States-Mexico Agreement (CUSMA), are exempt from most tariffs, there are still many goods that businesses have to pay more for due to these new tariffs.

Other trade tensions between Canada and China have also meant higher costs for some sectors, including the Canadian canola industry.

The amount of money we're charging in counter tariffs is tiny.  So it would seem that the majority (possibly)  ALL the costs being discussed here are a result of other country's tariffs (not just usa but also china). 

And has been noted elsewhere that for a lot of small businesses they simply cannot afford to keep up with the paperwork necessary to take advantage of the Cusma exemptions and they're taking the hit. 

To be honest if this article is true (and newspaper article so grain of salt) this is FAR worse than i'd understood things to be and we're in pretty serious trouble. At a time when the liberals have us at a 100 billion dollar a year defiict, so we won't be able to borrow our way out of it. 

 

[paxamericana]

59 minutes ago, CdnFox said:

FAR worse than i'd understood things to be and we're in pretty serious trouble...

59 minutes ago, CdnFox said:

won't be able to borrow our way out of it. 

 

[CdnFox]

8 minutes ago, paxamericana said:

 

Kid, if you're already burning then jumping into a dumpster fire won't make things better.     

[Venandi]

16 minutes ago, paxamericana said:

 

See ya at the border. 

 

[Shady]

Don’t worry guys, Carney has a plan.

 

[ExFlyer]

"In Canada, a significant number of new businesses fail within their first few years. About 21.5% of small businesses don't survive their first year, according to Made in CA. Furthermore, roughly half of all small businesses in Canada close before their fifth anniversary." 

Bottom line, being in business does not mean you will be there forever. 

https://madeinca.ca/small-business-statistics-canada/

 

"

[CdnFox]

1 hour ago, Shady said:

Don’t worry guys, Carney has a plan.

 

Unfortunately the plan appears to be bankruptcy

33 minutes ago, ExFlyer said:

"In Canada, a significant number of new businesses fail within their first few years. About 21.5% of small businesses don't survive their first year, according to Made in CA. Furthermore, roughly half of all small businesses in Canada close before their fifth anniversary." 

Bottom line, being in business does not mean you will be there forever. 

https://madeinca.ca/small-business-statistics-canada/

 

"

I often think to myself you can't get any Dumber. But I am wrong   

Our economy requires that a certain number of businesses succeed. The vast majority of small businesses in Canada are those which have passed their first year and are successful

If they start to fail in large numbers our economy is going to be completely devastated.

It may not matter to you right now, but trust me it will when you grow up.

We absolutely cannot afford to have what this paper is predicting come true

[ExFlyer]

38 minutes ago, CdnFox said:

 

I often think to myself you can't get any Dumber. But I am wrong   

....

I know that facts absolutely befuddle you.  LOSER LOL

But here they are ...again

"In Canada, a significant number of new businesses fail within their first few years. About 21.5% of small businesses don't survive their first year, according to Made in CA. Furthermore, roughly half of all small businesses in Canada close before their fifth anniversary." 

Bottom line, being in business does not mean you will be there forever. 

https://madeinca.ca/small-business-statistics-canada/

 

Edited August 21, 2025 by ExFlyer

[Chrissy1979]

2 hours ago, Shady said:

Don’t worry guys, Carney has a plan.

 

Trump lovers blaming Carney for Trump’s carnage are cowardly and weak.

[paxamericana]

1 hour ago, Chrissy1979 said:

Trump lovers blaming Carney for Trump’s carnage are

Patriots, only Trump can liberate stubborn Canadians from their pride and self inflicted destitution. See conditions below.

Edited August 21, 2025 by paxamericana

[Venandi]

1 hour ago, Chrissy1979 said:

Trump lovers blaming Carney for Trump’s carnage are cowardly and weak.

Look, I can do it too:

Carney lovers blaming Trump for Carney’s carnage are cowardly and weak.

[CdnFox]

3 hours ago, ExFlyer said:

I know that facts absolutely befuddle you.  LOSER LOL

 

The fact you can't count befuddles me   

So carney is putting our entire economy at risk by causing the shut down of a huge percent of our businesses and YOU support him and this was enough to cause your melt down this time?

[Chrissy1979]

2 hours ago, Venandi said:

Look, I can do it too:

Carney lovers blaming Trump for Carney’s carnage are cowardly and weak.

Trump is creating destructive chaos by implementing and removing tariffs do randomly that businesses can’t even respond. That isn’t Carney’s fault. 

You guys who supported Trump because you vicariously got off on his sexually assaulting women look even more pathetic now.

[CdnFox]

3 minutes ago, Chrissy1979 said:

Trump is creating destructive chaos by implementing and removing tariffs do randomly that businesses can’t even respond. That isn’t Carney’s fault. 

 

This is on Carney.   He claimed he could handle trump, no problem.  He claimed he could get a deal.  He was adamant. Elbows up!!!!

Instead he went elbows down, dropped to his knees and did what trump told him.  Guess he thought trump would be nice and reciprocate.  But when trump smells weakness he goes into a frenzy. 

So we're getting treated horribly, and there's no end in sight.  Carney can't get a deal and while he keeps saying no deal is better than a bad deal the truth is no deal IS a bad deal, and there's no reason to believe we'll get a better deal later on. 

Carney lied and is unable to deliver. 

On top of it, by doing what trump told him to with china, we've now started a trade war with china and that's going badly. That's REALLY going to hurt.

And just to make it worse he said he could offset tariffs by super turbo mega charging our economy. He'd do this by building pipelines and mega projects as well as getting rid of provincial trade barriers by July. 

Trade barriers haven't moved, and the oil companies said they hate his new law and will be investing in the states instead. 

And this is in the shadow of a 100 billion dollar deficit that the liberals have created. Which we absolutely cannot afford in the slightest. Another few years of that and we'll have  bond crisis and basically be Greece with no eu to bail us out. 

sorry but carney and his liberals are 100 percent to blame for our current mess. 

[Chrissy1979]

15 minutes ago, CdnFox said:

This is on Carney.   He claimed he could handle trump, no problem.  He claimed he could get a deal.  He was adamant. Elbows up!!!!

Instead he went elbows down, dropped to his knees and did what trump told him.  Guess he thought trump would be nice and reciprocate.  But when trump smells weakness he goes into a frenzy. 

So we're getting treated horribly, and there's no end in sight.  Carney can't get a deal and while he keeps saying no deal is better than a bad deal the truth is no deal IS a bad deal, and there's no reason to believe we'll get a better deal later on. 

Carney lied and is unable to deliver. 

On top of it, by doing what trump told him to with china, we've now started a trade war with china and that's going badly. That's REALLY going to hurt.

And just to make it worse he said he could offset tariffs by super turbo mega charging our economy. He'd do this by building pipelines and mega projects as well as getting rid of provincial trade barriers by July. 

Trade barriers haven't moved, and the oil companies said they hate his new law and will be investing in the states instead. 

And this is in the shadow of a 100 billion dollar deficit that the liberals have created. Which we absolutely cannot afford in the slightest. Another few years of that and we'll have  bond crisis and basically be Greece with no eu to bail us out. 

sorry but carney and his liberals are 100 percent to blame for our current mess. 

That’s a lot of words to just admit you were a naive fool to support Trump.

[Aristides]

13 minutes ago, Chrissy1979 said:

That’s a lot of words to just admit you were a naive fool to support Trump.

CdnFox thinks Carney hitting Canadians with more tariffs would somehow make it easier for those businesses.

That said, Carney needs to present a blueprint on making good on his promises when parliament returns. Businesses themselves will also need to pivot away from the US, government can help but it can't do that for them.

Edited August 22, 2025 by Aristides

[paxamericana]

1 hour ago, Aristides said:

pivot away from the US, government can help

Not possible, Canada lack the ability to compete on the global stage. Canada does not manufacture high end industrial goods like the Germans nor are you the lowest cost producer like the Chinese. You can't compete with the scale of American(has better land) agricultural producer. Canada is just not competitive.

The largest market is still the US in term of dollar value.

The easy way out is just the one Canucks can't swallow. 

[Shady]

Don’t worry guys, Carney has a plan.

 

[Chrissy1979]

59 minutes ago, Shady said:

Don’t worry guys, Carney has a plan.

 

You think Polievre would have been a better choice to deal with the insane, unprecedented, extraordinarily stupid president you conservatives elected? Why would we elect another MAGA type when it’s been such a shitshow? You think people should listen to your judgment after you supported that? 
 

[TreeBeard]

Who said Canada would get through Trump’s tanking of the world economy unscathed?  
 

“Prime Minister Mark Carney said there are signs the global and Canadian economies are slowing as U.S. President Donald Trump’s trade war escalated…”

- April 11 Citynews