Dear small business owners,
You have endured another challenging year. But there are some bright spots on the horizon—recent data tell us that inflation is on a downward trend, making interest rate cuts more likely in the months ahead.
Here are some of the key issues we’ve been fighting on in 2023 and where we will go in 2024.
We’ve been fighting hard for a CEBA extension. We will continue to do so right up until the repayment deadline, but I recommend all small business owners make plans to repay the loan if you possibly can. Learn more about your options at cfib.ca/ceba.
The biggest win of the year for our members was the announcement of a significant reduction in Visa and Mastercard fees. Starting this fall, interchange fees will drop by up to 27% for most of our members, which will be some welcome relief.
Looking ahead, we have many major files on our plate at the federal and provincial level. We are planning a major campaign on the federal carbon tax as it is deeply unfair to small businesses across Canada. Businesses like yours pay about 40% of the total amount of the carbon tax but get virtually nothing back in rebates. And with rates set to rise again in April right across Canada, CFIB will be pushing for the federal government to fix the system or scrap the tax altogether.
CFIB is always looking to add value to your membership. If you need help with HR matters, like hiring, training or terminations, we can help. CFIB has a team of 30 HR advisors who are available to you and 80% of the time, you’ll get a live person on the phone when you need them. This expanded service is called HR Now! Check it out and ensure you remember to call us when you need us for help.
Thank you for all you do for your community and for our country. CFIB always has your back – we never give up and we never go away.
Best wishes in the year ahead!
Dan Kelly
President and CEO, Canadian Federation of Independent Business
Dan Kelly serves as President and Chief Executive Officer of the Canadian Federation of Independent Business (CFIB). In this role, he is the lead spokesperson and advocate for the views of the organization’s 97,000 members.
