EDITORIAL: Tax hikes burden small businesses already struggling to survive

It is unfortunate that tax hikes are occurring at a time when small businesses are already struggling to stay afloat.

The recent increase in Canada Pension Plan benefits and employment insurance contributions, as well as other government requirements, all contribute to the burden that small businesses must bear. While these increases may seem small, they can add up quickly and have a significant impact on the bottom line.

Small businesses have been hit hard by the pandemic and are struggling to survive. Many have been forced to lay off staff, cut hours, or close their doors permanently.

In addition to these tax hikes, small businesses are also facing rising costs for supplies. These costs are not only hurting small businesses but also distributors and manufacturers who are losing sales and staff as a result. It’s time for governments to recognize the struggles that small businesses are facing and take action to support them.

The B.C. Chamber of Commerce is right to lobby the provincial government to ease costs on small businesses. The government should be taking meaningful steps to address the concerns raised by small businesses and the chamber of commerce.

Small businesses are the lifeblood of our economy and our communities. They provide jobs and services to residents and contribute to the vibrancy and character of our towns and cities. We must do all we can to support them during these challenging times, and that means easing the burden of taxes and rising costs.

– Black Press Media

Do you have something to add to this story, or something else we should report on? Email:
editor@theprogress.com