St. John’s, August 28, 2025 - A dismal 4% of Newfoundland and Labrador small business owners say they are very confident their concerns and priorities will receive attention during the campaign leading up to the provincial election, according to the Canadian Federation of Independent Business (CFIB)’s recent pre-election research.
Reducing the tax burden on businesses is the top priority for 89% of Newfoundland and Labrador small businesses, followed by reducing personal income taxes (71%), red tape (64%) and energy costs (58%).
“Affordability is the number one issue for small business owners in this election,” said Jonathan Galgay, CFIB’s Director of Legislative Affairs for Newfoundland and Labrador. “Just as households are grappling with rising living costs, small businesses are under mounting pressure from higher operating expenses. That’s why we’re calling on all parties to commit to addressing the needs of small businesses and introduce policies that will provide cost relief and improve affordability.”
Survey findings also reveal that 71% of Newfoundland and Labrador small business owners who plan to vote in the upcoming election are undecided.
“With such a high number of undecided voters, party leaders have an opportunity to bring forward policies that will address the priorities of small businesses,” said Galgay. “Political parties need to do a better job of outlining their plans to aid small firms.”
Among other recommendations detailed in CFIB’s Newfoundland and Labrador small business election platform, CFIB is calling on the next government to:
- Eliminate the 15% sales tax on insurance
- Lower the small business tax rate to 1%, increase the small business income threshold from $500,000 to $700,000, and index the threshold to inflation annually
- Readopt the Regulatory Accountability and Reporting Act and incorporate the Charter of Governing Principles to anchor red tape reduction efforts across the public service
- Amend the Towns and Local Service Districts Act and City’s Act to allow municipalities to compensate small businesses affected by construction projects.
For media inquiries, please contact:
Jonathan Galgay
Director of Legislative Affairs, Newfoundland and Labrador
709-743-6069
Jonathan.galgay@cfib.ca
About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 100,000 members across every industry and region, including 1,700 in Newfoundland and Labrador. 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.
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