Feb 26 2025 20 mins 1
In this episode of the CanadianSME Small Business Podcast, hosted by Maheen, we explore the latest small business trends shaping the Canadian economy in 2025. From declining employment numbers to the rise of credit-based financing and the growing importance of digital adoption, small businesses face a rapidly evolving landscape.
Joining us is Simon Worsfold, Head of Data Communications at Intuit QuickBooks, who breaks down the key findings from the 2025 Intuit QuickBooks Small Business Index Annual Report and what they mean for entrepreneurs.
Key Highlights from the Episode:
🔹 Employment Decline in Small Businesses: Since July 2024, small businesses in Canada have lost 84,100 jobs—what’s causing the decline, and how can SMEs adapt
🔹 Credit-Based Financing on the Rise: 57% of small businesses now charge over 25% of their expenses to credit cards—what are the risks and benefits of this financing shift
🔹 Sector-Specific Job Losses & Recovery: Which industries have been most affected by employment declines, and what strategies can help them recover
🔹 The Role of Digital Transformation in SME Growth: Businesses that adopt digital tools experience higher resilience and profitability—how can SMEs leverage AI, cloud solutions, and automation
Special Thanks to Our Partners:
- RBC: https://www.rbcroyalbank.com/dms/business/accounts/beyond-banking/index.html
- UPS: https://solutions.ups.com/ca-beunstoppable.html?WT.mc_id=BUSMEWA
- IHG Hotels and Resorts: https://businessedge.ihg.com/s/registration?language=en_US&CanSME
- Google: https://www.google.ca/
For more expert insights, visit www.canadiansme.ca and subscribe to the CanadianSME Small Business Magazine. Stay innovative, stay informed, and thrive in the digital age!
Disclaimer: The information shared in this podcast is for general informational purposes only and should not be considered as direct financial or business advice. Always consult with a qualified professional for advice specific to your situation
