The outlook for small businesses in British Columbia is dimming, as a group representing them voices concerns over multiple challenges.
Kalith Nanayakkara, a senior policy analyst at the Canadian Federation of Independent Businesses (CFIB) in B.C., highlights that while the ongoing BC General Employees’ Union strike is impacting businesses, larger issues such as insufficient demand and a shortage of skilled labor are posing significant obstacles.
Nanayakkara emphasizes that the BCGEU strike, alongside strikes by Canada Post workers and the trade tensions with the United States, are exacerbating these challenges.
Finance Minister Brenda Bailey’s recent projection of a substantial deficit of nearly $11.6 billion for the first quarter of the 2025-2026 fiscal year has added to the concerns. Nanayakkara stresses that small businesses are wary of potential tax hikes to address this deficit and instead urge a focus on economic growth.
He calls for government support in the form of tax reductions, cutting bureaucratic hurdles, and implementing regulatory reforms to boost the economy.
Nanayakkara encourages British Columbians to support local businesses by shopping within the province, emphasizing the importance of community backing during these tough times.