Friday, May 24, 2024

Labor shortage still applies to small and medium-sized enterprises

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Maria Gill
Maria Gill
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“Entrepreneurs in Quebec are already tired of managing the epidemic as 40% of them have to work significantly longer hours due to its effects.” François Vincent, Quebec Vice President at CFIB, explains that they have to work harder to keep their business running, because the labor shortage It has the effect of getting them to work more.

More than a quarter of SMEs say they have had to turn down sales or contracts due to labor shortages, and 17% say they canceled or postponed businesses.

The manufacturing, construction, and professional services sectors are hardest hit by lost sales or contracts. These “lost economic opportunities” are detrimental to the economic recovery, Vincent says.

Currently, small and medium-sized businesses are slowing down due to economic constraints. When they can resume their normal pace, the labor shortage issue will become more urgent, says CFIB.

Work paths

The leaders surveyed have identified courses of action to help them overcome this crisis. They particularly mentioned tax cuts (57%), improved tax breaks (49%), support and assistance in searching for candidates (33%) and immigration (32%).

Actions announced in the latest county budget to aid small businesses are basically a good foundation, but they are insufficient, according to CFIB. The organization intends to cooperate with the government “to inform companies of measures already in place.” [et] To find other effective courses of action and thus add tools to the entrepreneur fund, ”Mr. Vincent concludes.

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