\n<\/p>\n
Breadcrumb Trail Links<\/p>\n
Many strains on small business from inflation to interest rates to rising CPP contributions<\/p>\n
Published Oct 22, 2024<\/span> \u00a0\u2022\u00a0 3 minute read<\/span><\/p>\n\n\n<\/button><\/p>\n\n\n\n\nYou can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Inflation, among other issues, has put a strain on small businesses, a report says.<\/span> Photo by Postmedia<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nBy Audrey Pridham<\/strong><\/p>\nHigher input costs and inflation are putting a strain on entrepreneurs, with nearly 75 per cent indicating that rising costs are affecting their business, according to a recent Business Development Bank of Canada (BDC) study.<\/p>\nThe study said these high costs are due to a 35 per cent increase in the industrial produce price index (IPPI) that occurred between spring 2020 and 2022.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nArnaud Franco, BDC\u2019s director of economic research, said geopolitical tensions have also had an effect, noting that energy costs remain high compared to pre-pandemic levels due to European countries building up their own capacity for natural gas reliquefaction.<\/p>\nSmaller businesses are struggling to absorb higher energy costs, which affect various inputs such as electricity and raw materials, Franco said. The compounding effect of rising energy costs has significantly impacted small business margins and revenues, as has increased labour costs. This has led businesses to resort to short-term loans, but they have also suffered increased default rates since mid-to-late 2023, he said.<\/p>\n\u201cBigger corporations pay less interest\u00a0on their loans in general, and it just puts them in an easier navigation,\u201d Franco said. \u201cThey can absorb these hits, whereas small businesses generally need to turn to emergency credit in order to cover some of those in the short term.\u201d<\/p>\nSimon Gaudreault, chief economist and vice-president of research at the Canadian Federation of Independent Business (CFIB), said its own survey of conditions shows similar trends. Higher insurance, tax and regulatory, occupancy and borrowing costs have also been challenges, he said.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
You can save this article by registering for free here. Or sign-in if you have an account.<\/p>\n<\/div>\n<\/div>\n
<\/svg><\/button><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/source><\/source><\/source><\/source><\/source><\/picture>Inflation, among other issues, has put a strain on small businesses, a report says.<\/span> Photo by Postmedia<\/span><\/figcaption><\/figure>\n<\/div>\n<\/header>\n\nArticle content<\/h2>\nBy Audrey Pridham<\/strong><\/p>\nHigher input costs and inflation are putting a strain on entrepreneurs, with nearly 75 per cent indicating that rising costs are affecting their business, according to a recent Business Development Bank of Canada (BDC) study.<\/p>\nThe study said these high costs are due to a 35 per cent increase in the industrial produce price index (IPPI) that occurred between spring 2020 and 2022.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nArnaud Franco, BDC\u2019s director of economic research, said geopolitical tensions have also had an effect, noting that energy costs remain high compared to pre-pandemic levels due to European countries building up their own capacity for natural gas reliquefaction.<\/p>\nSmaller businesses are struggling to absorb higher energy costs, which affect various inputs such as electricity and raw materials, Franco said. The compounding effect of rising energy costs has significantly impacted small business margins and revenues, as has increased labour costs. This has led businesses to resort to short-term loans, but they have also suffered increased default rates since mid-to-late 2023, he said.<\/p>\n\u201cBigger corporations pay less interest\u00a0on their loans in general, and it just puts them in an easier navigation,\u201d Franco said. \u201cThey can absorb these hits, whereas small businesses generally need to turn to emergency credit in order to cover some of those in the short term.\u201d<\/p>\nSimon Gaudreault, chief economist and vice-president of research at the Canadian Federation of Independent Business (CFIB), said its own survey of conditions shows similar trends. Higher insurance, tax and regulatory, occupancy and borrowing costs have also been challenges, he said.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
By Audrey Pridham<\/strong><\/p>\nHigher input costs and inflation are putting a strain on entrepreneurs, with nearly 75 per cent indicating that rising costs are affecting their business, according to a recent Business Development Bank of Canada (BDC) study.<\/p>\nThe study said these high costs are due to a 35 per cent increase in the industrial produce price index (IPPI) that occurred between spring 2020 and 2022.<\/p>\n<\/section>\n\n\nAdvertisement 2<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\n\n\n<\/p>\n\nTHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nSUBSCRIBE TO UNLOCK MORE ARTICLES<\/p>\nSubscribe now to read the latest news in your city and across Canada.<\/p>\n\nExclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman and others.<\/li>\nDaily content from Financial Times, the world’s leading global business publication.<\/li>\nUnlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.<\/li>\nNational Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.<\/li>\nDaily puzzles, including the New York Times Crossword.<\/li>\n<\/ul>\n<\/div>\n\nREGISTER \/ SIGN IN TO UNLOCK MORE ARTICLES<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account.<\/li>\nShare your thoughts and join the conversation in the comments.<\/li>\nEnjoy additional articles per month.<\/li>\nGet email updates from your favourite authors.<\/li>\n<\/ul>\n<\/div>\n\nTHIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.<\/p>\nCreate an account or sign in to continue with your reading experience.<\/p>\n\nAccess articles from across Canada with one account<\/li>\nShare your thoughts and join the conversation in the comments<\/li>\nEnjoy additional articles per month<\/li>\nGet email updates from your favourite authors<\/li>\n<\/ul>\n<\/div>\n<\/div>\n<\/header>\n\n\n\n\n\nSign In or Create an Account<\/h2>\nor<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nArnaud Franco, BDC\u2019s director of economic research, said geopolitical tensions have also had an effect, noting that energy costs remain high compared to pre-pandemic levels due to European countries building up their own capacity for natural gas reliquefaction.<\/p>\nSmaller businesses are struggling to absorb higher energy costs, which affect various inputs such as electricity and raw materials, Franco said. The compounding effect of rising energy costs has significantly impacted small business margins and revenues, as has increased labour costs. This has led businesses to resort to short-term loans, but they have also suffered increased default rates since mid-to-late 2023, he said.<\/p>\n\u201cBigger corporations pay less interest\u00a0on their loans in general, and it just puts them in an easier navigation,\u201d Franco said. \u201cThey can absorb these hits, whereas small businesses generally need to turn to emergency credit in order to cover some of those in the short term.\u201d<\/p>\nSimon Gaudreault, chief economist and vice-president of research at the Canadian Federation of Independent Business (CFIB), said its own survey of conditions shows similar trends. Higher insurance, tax and regulatory, occupancy and borrowing costs have also been challenges, he said.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Higher input costs and inflation are putting a strain on entrepreneurs, with nearly 75 per cent indicating that rising costs are affecting their business, according to a recent Business Development Bank of Canada (BDC) study.<\/p>\n
The study said these high costs are due to a 35 per cent increase in the industrial produce price index (IPPI) that occurred between spring 2020 and 2022.<\/p>\n<\/section>\n
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or<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\nArnaud Franco, BDC\u2019s director of economic research, said geopolitical tensions have also had an effect, noting that energy costs remain high compared to pre-pandemic levels due to European countries building up their own capacity for natural gas reliquefaction.<\/p>\nSmaller businesses are struggling to absorb higher energy costs, which affect various inputs such as electricity and raw materials, Franco said. The compounding effect of rising energy costs has significantly impacted small business margins and revenues, as has increased labour costs. This has led businesses to resort to short-term loans, but they have also suffered increased default rates since mid-to-late 2023, he said.<\/p>\n\u201cBigger corporations pay less interest\u00a0on their loans in general, and it just puts them in an easier navigation,\u201d Franco said. \u201cThey can absorb these hits, whereas small businesses generally need to turn to emergency credit in order to cover some of those in the short term.\u201d<\/p>\nSimon Gaudreault, chief economist and vice-president of research at the Canadian Federation of Independent Business (CFIB), said its own survey of conditions shows similar trends. Higher insurance, tax and regulatory, occupancy and borrowing costs have also been challenges, he said.<\/p>\n<\/section>\n\n\n\n\n<\/div>\n\nTop Stories<\/p>\nGet the latest headlines, breaking news and columns.<\/p>\n<\/div>\n<\/div>\n\n\nBy signing up you consent to receive the above newsletter from Postmedia Network Inc.<\/p>\n<\/div>\n\nThanks for signing up!<\/p>\nA welcome email is on its way. If you don’t see it, please check your junk folder.<\/p>\nThe next issue of Top Stories will soon be in your inbox.<\/p>\n<\/div>\nWe encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n
Arnaud Franco, BDC\u2019s director of economic research, said geopolitical tensions have also had an effect, noting that energy costs remain high compared to pre-pandemic levels due to European countries building up their own capacity for natural gas reliquefaction.<\/p>\n
Smaller businesses are struggling to absorb higher energy costs, which affect various inputs such as electricity and raw materials, Franco said. The compounding effect of rising energy costs has significantly impacted small business margins and revenues, as has increased labour costs. This has led businesses to resort to short-term loans, but they have also suffered increased default rates since mid-to-late 2023, he said.<\/p>\n
\u201cBigger corporations pay less interest\u00a0on their loans in general, and it just puts them in an easier navigation,\u201d Franco said. \u201cThey can absorb these hits, whereas small businesses generally need to turn to emergency credit in order to cover some of those in the short term.\u201d<\/p>\n
Simon Gaudreault, chief economist and vice-president of research at the Canadian Federation of Independent Business (CFIB), said its own survey of conditions shows similar trends. Higher insurance, tax and regulatory, occupancy and borrowing costs have also been challenges, he said.<\/p>\n<\/section>\n
Top Stories<\/p>\n
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We encountered an issue signing you up. Please try again<\/p>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n<\/section>\n\n\nAdvertisement 3<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n
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This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\nGaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\nBut he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\nFranco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n\n\nAdvertisement 4<\/p>\n\n\n\n\nThis advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cAlthough inflation seems to be a bit more under control, it only means it has stopped accelerating at a great pace,\u201d he said. \u201cBut the level of prices has remained elevated, and for small businesses, that means that different types of input costs have increased.\u201d<\/p>\n
Gaudreault said rising carbon taxes and Canada Pension Plan (CPP) contributions also make it challenging for businesses to get ahead. He said there was a 48 per cent increase in the maximum CPP contribution payable by employers and employees between 2019 and 2024, and a 300 per cent increase in the carbon tax.<\/p>\n
But he said the government\u2019s recent announcement about carbon tax rebates for small businesses could provide significant financial relief.<\/p>\n
\u201cWe\u2019re talking about hundreds, if not thousands, of dollars that business owners can access in jurisdictions subject to the federal carbon tax,\u201d he said.<\/p>\n
Franco said rising inflation has made it difficult for smaller businesses to pass on price increases to their consumers, though this is not a good solution in any case. A better strategy, he said, is to pay attention to BDC\u2019s finding that generation Z consumers prefer to shop for locally produced or environmentally friendly items.<\/p>\n<\/section>\n
Advertisement 4<\/p>\n
This advertisement has not loaded yet, but your article continues below.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n\nArticle content<\/p>\n\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\nWage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\nBDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\nGaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\u201cBy 2030, (gen Z) will represent a significant amount of the Canadian consumption basket,\u201d he said. \u201cOffering differentiated products to these sort of generations offers a really interesting opportunity for those businesses looking to differentiate themselves.\u201d<\/p>\n
Wage inflation is another issue, though it is at the Bank of Canada\u2019s desired level, Franco said. But the slowing number of job vacancies and rising unemployment should help ease wage growth and benefit entrepreneurs struggling to find staff.<\/p>\n
BDC presented a potential solution to mitigate these problems, which includes optimizing energy consumption and adopting cost-saving technologies, such as artificial intelligence programs. Franco said these programs can help free up staff for more value-added tasks and increase productivity.<\/p>\n
\u201cIt\u2019s necessary,\u201d he said. \u201cYou need to stay ahead of the curve in order to continue innovating so that you can face these problems.\u201d<\/p>\n
Gaudreault agreed, but said small businesses aren\u2019t always able to afford new technologies, and the current demand is below average due to the Bank of Canada being restrictive with its monetary policy and high interest rates.<\/p>\n
\u201cIf it doesn\u2019t improve on either side or, ideally, both sides, businesses won\u2019t be able to save their money so they can invest in those technologies,\u201d he said.<\/p>\n\nRecommended from Editorial<\/p>\n<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Recommended from Editorial<\/p>\n
<\/p>\n\n <\/picture>\nRecent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Recent grads face \u2018screaming crisis\u2019 as they struggle to find job<\/span><\/p>\n<\/li>\n <\/picture>\n‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
‘More urgency now to return interest rates to neutral’: Desjardins<\/span><\/p>\n<\/li>\n<\/ol>\n<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/section>\nGaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Gaudreault said business owners should re-evaluate their costs and shop around for the best deals on insurance and banking services to ensure that they are \u201ctightly negotiated and reviewed.\u201d<\/p>\n<\/section>\n\nArticle content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Article content<\/p>\n<\/section>\n\nShare this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Share this article in your social network<\/p>\n<\/section>\n<\/div>\n\nInterest rates, inflation stack odds against entrepreneurs, BDC says<\/a>\n2024-10-22 18:56:49<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
Breadcrumb Trail Links News Economy Many strains on small business from inflation to interest rates to rising CPP contributions Published Oct 22, 2024 \u00a0\u2022\u00a0 3 minute read You can save…<\/p>\n","protected":false},"author":2,"featured_media":51911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[31],"tags":[],"class_list":{"0":"post-51910","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy"},"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=51910"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/51910\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/51911"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=51910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=51910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=51910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}