Mar 28 2024 67 mins 3
CFIB's Dan Kelly Talks about Small Business Challenges
On this episode of the Insights Podcast our guest is Dan Kelly, the President & CEO of the Canadian Federation of Independent Business (CFIB), an advocacy organization with a hundred thousand small and medium sized business members. SMEs represent about half the GDP in Canada and more than sixty percent of total employment in the country. There are 1.2 million SMEs in Canada, not including sole ownership businesses. In a wide ranging conversation, we discuss the regulatory burden in Canada with a focus on the region and CFIB's efforts to reduce red tape. Kelly credits the work of the Nova Scotia government with leading the way in Atlantic Canada in this regard. He also discusses the challenges associated with repayment of CEBA loans for small businesses that have led to an increase in bankruptcies across the country in the last year or so. In addition, we talk about the generational transition of business ownership underway, with more than 75% of business owners expecting to exit their businesses within the next ten years and their research which indicates few business owners are properly prepared for that transition.
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