Small business confidence in Canada has hit one of its lowest levels ever amid fear of a Christmas recession, according to the Canadian Federation of Independent Business (CFIB).
The federation reported on Nov. 24 that the confidence of Canadian small business owners is on a downward trend for the third consecutive month, and their outlook on the future is not promising.
“The situation remains sobering for many small businesses. High costs of doing business, a lack of staffing, and ongoing interest rate hikes make it harder for them to know for sure where their business is headed,” Simon Gaudreault, chief economist and vice president of research at CFIB, said in a news release, as first reported by Blacklock’s Reporter….