James Alexander Michie: Small businesses are affected | Financial Post

Small Business Canada James Alexander Michie

Canada's 'stagnating productivity' has hit small business | James Alexander Michie

Author: James Alexander Michie

Small businesses in Canada have been significantly affected by the nation’s “stagnant productivity,” since the dysfunction of politics weighs heavily on the country’s small businesses and the private sector.

Likewise, it is emphasized that there is a complicated web of regulatory requirements which could be harming the private sector, there being some market distortions which should be addressed.

Various comments, criticisms and complaints have been noted by the representatives of the small companies that receive administrative burdens linked to the movement of goods within the borders of Canada which are becoming increasingly exorbitant, coupled with the failures of the policy They integrate a tax regime that complicates things for those affected, since small businesses tend to bear more administrative costs than large companies.

Due to large regulations and a funding shortfall, it is alleged in a report published last year by the Organization for Economic Cooperation and Development, that the stagnation of productivity and weak business dynamism are a significant concern, which supports the concerns present in the business groups that are being affected, likewise the CFIB criticized measures adopted by the Canadian Finance Department, suggesting that the nation should, in fact, focus on a broader market reform with the objective of reducing administrative costs in all areas.

However, Canada has the largest number of old companies and the dynamism of companies has been gradually decreasing since the eighties, in the same way, Canadian companies slowly adopt new information and communication technologies.

Take a read: https://business.financialpost.com/news/oecd-raises-red-flag-about-canadas-stagnating-productivity-blaming-tax-burden-and-regulations?utm_term=Autofeed&utm_campaign=Echobox&utm_medium=Social&utm_source=Twitter#Echobox=1531767568

Source: Jesse Snyder | Financial Post


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