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TORONTO — A new survey suggests many Canadian small business owners are facing mounting pressure and uncertainty about their long-term future.
According to a survey by Ignite Digital of 600 small and medium-sized business owners, more than 70 per cent expressed doubt about whether their business would survive long enough to be sold for retirement.
The survey found 21.5 per cent of respondents said they do not believe their business will last, while others reported uncertainty or only cautious optimism about their prospects.
Business owners also indicated limited financial resilience. Nearly one-third said they could survive between three and five months if revenues dropped by 25 per cent, while about one in five said they could last six to 11 months. A smaller share said they would last less than a month or could not assess their situation.
The findings also point to regret among some entrepreneurs, with about 46 per cent saying they have at times questioned their decision to start or purchase a business.
Respondents identified rising costs, including rent, inputs and shipping, as the most significant challenge, followed by cash flow pressures and the impact of U.S. trade actions.
Other concerns included taxes and regulatory burdens, declining customer demand, late payments and difficulty finding and retaining staff.
The survey also found shifting supply chains are adding to costs, with a majority of respondents saying sourcing products outside the United States has increased expenses.
Business owners pointed to late payments, unrealistic timelines and customer disputes as among the most damaging behaviours affecting their operations.
The findings highlight the challenges facing small businesses as they navigate economic uncertainty and rising costs across Canada.
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