Only one in five Canadian business owners would currently recommend someone to start a business.
That is according to a recent survey conducted by the Canadian Federation of Independent Business.
Business owners cite rising operational costs (89 per cent) and economic uncertainty (76 per cent) as the main concerns.
High tax burden (72 per cent) and excessive government red tape (62 per cent) were also cited by a majority of business owners.
“Together, these factors highlight the challenging environment for [small and medium-sized enterprises], leaving many owners doubtful about the sustainability of new ventures,” said the report.
As of September, one-quarter of businesses described the overall health of their business as in weak or critical condition, while one in three reported being in strong health.
Business health includes factors such as cash flow, financial stability, employee and customer satisfaction, and the effectiveness of systems and processes.
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