Media Advisory – CFIB is available to comment on the Federal Economic Update on behalf of Canadian SMEs

category in: Business, COVID-19
Threads : Polls and Research, CFG

Ottawa, ON, 14 dc. 2021 / CNW Telbec / – The Canadian Federation of Independent Business (CFIB) is ready to comment, on behalf of Canadian SME owners, on today’s federal economic update.

the most recent SME Health Monitoring ScheduleCFIB shows that only 36% of SMEs re-record their normal turnover. The CFIB is calling on the federal government to take measures to support the recovery of small businesses and make concrete commitments today.

COVID-19 Assistance Programs:

  • Lower the eligibility limits for all business assistance programs and increase support rates for all businesses using the same formula as the Hospitality and Tourism Recovery Program.
  • Include new businesses launched after the outbreak of the pandemic in all assistance programs.
  • Make additional loans through the Canada Corporate Contingency Account (CUEC), increase the portion convertible into a grant, and postpone the repayment deadline until the end of 2024.
  • Ensure that small and medium enterprises that have to enter the vaccination passport receive the billion dollars promised to the provinces by the federal government in order to fund the costs associated with implementing this system.

Operating Costs Control:

  • Freeze the increase in contributions to Canada (RPC) and all other taxes on small and medium-sized businesses scheduled for 2022.
  • Introducing 50/50 participation in employment insurance contributions between employers and employees.
  • Implement policies to address labor and skills shortages, and temporarily expand the Temporary Foreign Worker Program (TFWP).
  • Reduce the administrative burden.
  • Develop a plan to reduce the deficit and achieve balance in the budget.
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Yasmine Günet, Vice President of National Affairs at CFIB, is available to comment on the decisions made.

About CFIB
CFIB (Canadian Federation of Independent Business) is the largest group of small and medium businesses in the country, with 95,000 members across all industries and regions. It aims to increase the chances of success of small and medium businesses by defending their interests with governments, providing them with personal resources and offering them exclusive savings. visit fcei.caTo find out more.

Source: Canadian Federation of Independent Business

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Press release dated December 14, 2021 at 8:00 am and distributed as follows:

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