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Small businesses’ short-term optimism highest since the start of the pandemic

Cost pressure continues to be a problem for businesses. Despite increasing optimism, businesses still face significant cost challenges, which could hinder their recovery, growth and sales return to pre-pandemic levels.

Most enterprises (72%) cited fuel and energy costs as a major cost barrier, a 7% increase in one month. Wages, insurance and product input prices are all increasing in popularity among organizations.

In March, businesses faced more disruptions as a result of supply chain issues and labor shortages.

“It is good to see small business owners expressing optimism for the future after the past two years of the pandemic,” said Andrea Bourgeois, director of economics at CFIB. “However, this does not mean that they are in a good position to absorb the new costs.”

Bourgeois said that with the federal carbon tax, which went into effect on April 1, along with various other costs governments are already planning, “businesses still face obstacles that hinder their success.” , said the bourgeoisie.

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