Right now, small business owners in Newfoundland and Labrador are feeling overlooked. Only 4% believe their concerns will get attention during this upcoming election. Meanwhile, taxes, rising costs, and red tape are making it harder than ever to keep doors open, pay staff, and grow.
Affordability is small business owners’ top election priority. We’re calling on party leaders to make the province more business-friendly by eliminating the 15% sales tax on insurance, lowering the small business tax rate to 1%, and raising the small business income threshold from $500,000 to $700,000, immediately, and to index the threshold to inflation going forward. Cutting red tape is equally important, simplifying regulations makes it easier to run a business, hire staff, and invest in growth. High costs and complicated rules hurt not just businesses, but the communities that rely on them.
We’re also advocating for practical solutions that make a real difference. Municipalities should be able to compensate businesses affected by construction. The Regulatory Accountability and Reporting Act should be readopted with the Charter of Governing Principles, and internal trade barriers should be removed so businesses can operate more freely between provinces. These are tangible steps that reduce costs, remove obstacles, and help local economies thrive.
The need for action is urgent. Eight out of 10 small business owners are looking for tax relief and lower costs right now. Without it, many risk struggling to stay open, keep staff, or expand.
This election, we’re making sure candidates are focused on small business concerns. We are sharing real stories, pushing for practical reforms, and rallying business owners to speak up. We want to ensure that the next government is prioritizing our economy and ensuring small businesses can succeed. That means: lowering taxes, cutting unnecessary costs, and making it easier to run a business. Do that, and small businesses, and the communities they serve, will be stronger than ever.
From now until election day on October 14th, we’re lobbying all political parties through open letters, meetings, and petitions to support the development of small business in the province. Leading up to this point, we’ve already met with all party leaders and officials to ensure our priorities are clearly heard and understood.
If you’re a small business in Newfoundland and Labrador, sign our petition on affordability ahead of the election today.
Would this type of advocacy help your business? Become a CFIB member to back ongoing efforts that ensure your concerns are heard at all levels of government.
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