CFIB: Nova Scotia small businesses “overwhelmed, overworked”
Posted Mar 8, 2011 10:43:30 AM.
This article is more than 5 years old.
The vice president of the Canadian Federation of Independent Businesses told the Nova Scotia government today the province’s small business community is “overwhelmed, overworked, underappreciated and undervalued.”
Leanne Hachey says the taxation system is one of the reasons why Nova Scotia’s small business optimism is third lowest in the country.
“If you were to ask me what tax measures would have the most impact on small businesses it’s actually relief on the personal income side,” said Hachey, explaining such a change could benefit business owners as well as employees.
She says low income earners would benefit more from this measure than from increasing the minimum wage rate as each increase means a higher percentage of each pay cheque is going to income tax.
Such action also trumps increasing the business tax rate.
“We have about 34 per cent of businesses in Nova Scotia which are unincorporated which means they can’t even take advantage of the small business tax rate because they are unincorporated,” explained Hachey.
The CFIB released its Business Barometer March 1, which showed business owners in Nova Scotia are among the least optimistic in the country with a score of 65.4. New Brunswick was rated even less optimistic, at 59.0.
