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Nearly 60% of small business owners do not recommend starting a business

Nearly 60% of small business owners do not recommend starting a business

Nearly 60% of Quebec SME owners do not recommend starting a business at the present time due to the labor shortage which causes a lot of trouble to entrepreneurs.

That’s according to an online survey conducted by the Canadian Federation of Independent Business (CFIB), the results of which were published on Wednesday. Nearly 550 responses were submitted by CFIB members from September 9 to 27.

The organization described the data collected as “alarming” and wants the situation to be taken seriously in the upcoming economic update from Finance Minister Eric Gerrard next month.

In addition to the labor shortage cited by 90% of entrepreneurs as a reason not to recommend starting a business, half of them also talk about personnel management.

Other reasons relate to logistical problems, such as supply chain delays or inventory shortages (59%), the pandemic creating great stress (45%), and a heavy administrative burden (41%) as well. Very high (34%).

“We knew that the staff shortage slowed production, lost jobs in all regions, and that it forced owners of small and medium businesses to work more. Now, we see that the labor shortage is discouraging employment,” said François Vincent, Vice President of Quebec at CFIB, in a press release. Direct Entrepreneurship.

“The Quebec government must be fully aware of the scale of this crisis and take measures that meet the expectations of affected SMEs in all sectors of activity. Otherwise, in Quebec, we risk finding ourselves facing a shortage of labor, as well as a shortage of entrepreneurs” , he added, announcing the action plan called “The Roadmap for Small and Medium Enterprises to Recovery”.

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Last week, the Quebec prime minister revealed his priorities. We must add others to meet the expectations and needs of SMEs. Confronting labor shortages and breaking down the barriers that hold back small business must become major trends of our economy. We can and must breathe new life into small businesses, those that generate two-thirds of private sector jobs.