Every other month, CFIB members lend their opinions to 'Your Voice,' a survey exploring a variety of current topics. The latest takeaways are showcased in a series of informative charts that summarize these findings.

Your Voice Highlights

May 2025

CFIB’s May 2025 Your Voice survey results provide a timely check-in on the experiences and priorities of small business owners across Canada. Drawing on over 2,100 responses, this report offers a nuanced view of the challenges businesses are navigating and the areas where additional support could make a meaningful difference.

Top Federal Priorities

When asked where the federal government should focus, business owners were clear: cutting business income taxes topped the list. This was followed by calls to rein in government spending and reduce payroll taxes—signaling deep concern about rising cost pressures and fiscal sustainability.

Trade Environment

Support for Canada’s retaliatory tariffs remains relatively strong at 61%. While many businesses have seen no major disruptions from the ongoing trade war, those more affected report falling profits and weaker U.S. sales.

In response, nearly four in ten businesses report increased sales of Canadian or locally made products. The gains are most notable in the retail, hospitality, and wholesale sectors. Businesses that actively promoted Canadian goods were more than twice as likely to report growth in local product sales.

At the same time, about one in three businesses have faced longer delays at the border, primarily when importing into Canada. Export delays are less common. A similar share report no change in border conditions, while many remain unsure— reflecting the uneven impact of the current trade conditions.

Summer Tourism Outlook

Roughly a third of small businesses rely on summer tourism revenue—especially in hospitality, retail, and in regions like Atlantic Canada and British Columbia. Most expect revenues to remain steady this year, but nearly 60% are concerned that trade tensions could spoil the season. Early indicators suggest growing interest from domestic travellers and more demand for budget-friendly experiences, while international and U.S. tourist activity appears to be softening.

These results point to a business community that remains focused on cost pressures, tax policy, and trade stability. Continued monitoring and responsive policy will be essential as conditions evolve.

Dive Deeper into the Numbers

Explore the interactive dashboard below to delve into the data from our May 2025 Your Voice survey.  You can filter the data by province, sector, business size, and age for SMEs across the nation.

Marvin Cruz

Director of Research

Explore more May 2025 insights and our extensive survey collection below.