Empowering Small Businesses to Embrace Growth and Innovation in 2025

As we step into 2025, it’s important to remember that every small business started as an idea and a brave choice to take a risk. The small business community is the lifeblood of the Canadian economy, and I believe that this year is going to foster even more innovation, collaboration, and growth for the sector as a whole.

Canada’s small businesses faced many obstacles this year, including record-high inflation, unexpected supply chain disruptions, and historic labour force challenges. And, despite back-to-back interest rate cuts, we know that the impact of the Bank of Canada’s rate decisions has yet to flow through the economy and meaningfully deliver for many of Canada’s small businesses.

All that said, Canadian business owners have continued to show up as unwavering leaders, championing innovation and a tenacious spirit. Now, at the onset of a new year once again, the potential on the horizon for Canada’s small business economy is palpable. Of course, new challenges are to be expected, but I am confident that Canadian entrepreneurs have more than enough grit and resilience to continue to succeed and make a difference.

Looking ahead, I’m optimistic about the small business outlook for 2025 for many reasons, including the proliferation of AI for small businesses and their advisors, the collective aim to make open banking a reality, and the beautiful businesses themselves, as they continue to go against the grain to solve problems by offering new products and services.

At Xero, we’re excited to support even more Canadian entrepreneurs on their small business journeys this year. We encourage current owners and operators to remember why they embarked on this journey in the first place, to continue learning, building their teams and leaning on advisors, and to get serious about digital adoption. For the people who open businesses this year, take advantage of the position you’re in. Register your business early, make sure you’re up to speed from a financial management perspective, find an advisor, and set up your operations now so your first tax season is a breeze. Most important of all, don’t forget to celebrate your wins—no matter how big or small.

Ashalee Mohamed

Head of Canada, Sales & GTM, Xero

Ashalee Mohamed is a senior business leader with over 18 years of experience driving growth and leading high-performance teams across a variety of industries. As the Head of Canada, Sales & Go-To-Market (GTM) at Xero, Ashalee leads the Canadian GTM team, focusing on accelerating revenue growth and delivering operational excellence. Throughout her career, Ashalee has demonstrated a unique ability to build cultures of high performance, deliver results, and navigate diverse sectors. Her experience spans PR communications, media, travel and tourism, insurance, legal services, private investigations, and investor relations. Ashalee’s previous leadership roles at Cision, Adventure Canada, and Investigative Research Group showcased her talent for driving transformative business strategies and fostering growth at scale. Beyond her professional expertise, Ashalee is an advocate for small businesses, recognizing their essential role in shaping the Canadian economy. She is passionate about helping these businesses succeed by providing the tools, resources, and guidance they need to grow and innovate.