VANCOUVER, October 5, 2020 – New survey data released by The Canadian Federation of Independent Business (CFIB) today shows the urgent need for commitments on small business initiatives in advance of the provincial election on October 24, 2020. Survey results show 20 per cent of small business owners do not yet know how they will vote. An additional 29 per cent who have an idea of how they would vote say their decision could change.
“As parties begin announcing platform commitments, CFIB urges them to focus on small business initiatives,” says Muriel Protzer, Senior Policy Analyst, BC and the North. "Businesses took a significant hit earlier this year to close their doors, leaving some without any revenues to pay the bills. Targeted initiatives that support local businesses and jobs are necessary to spur the growth our province needs to get on the right path to recovery,” adds Protzer.
When asked which measures were most important and would influence how they vote, small business owners said reducing provincial red tape (56 per cent), reducing provincial taxes and fees (54 per cent), and working with municipalities to lower property taxes (50 per cent) were the most important and influential initiatives.
Two parties have announced Provincial Sales Tax (PST) initiatives in recent weeks. Other taxes, such as the Employer Health Tax and property taxes have had less of a focus, but remain top of mind for small business owners.
CFIB’s Small Business Recovery Dashboard which is part of the #SmallBusinessEveryDay campaign shows BC has a long path to recovery. While 64 per cent of SMEs have returned to full operations, just 34 per cent are back to full staffing capacity and only 27 per cent are making normal revenues.
About the Survey
BC Pre-Election and Economic Recovery Survey findings are based on 604 responses, collected from small and medium-sized business owners from a controlled-access web survey. Data reflect responses received from September 28 to October 2.
For media enquiries or interviews, please contact:
Muriel Protzer, CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.