Small business optimism in Manitoba dropped in December, as tax issues become a growing concern for business owners.
The Canadian Federation of Independent Business (CFIB) says recent findings amongst its members indicate concerns over taxes and regulatory costs being a primary constraint to growing their business. The monthly business barometer reading fell to 62.3 from November’s 67.6.
“It is concerning to see confidence in Manitoba dropped sharply as small business owners look towards 2014,” said Elliot Sims, CFIB’s director of provincial affairs for Manitoba.
“It is also troubling that businesses reeling from the PST increase are now bracing for more tax increases in the New Year due to income tax ‘bracket creep’ and impending property tax increases. The last thing small business owners need now are any further tax increases in the upcoming 2014 provincial budget.”
Small business optimism remained relatively steady through the summer and fall before taking a substantial dip to end the year.