Businesses don’t feel confident about the economy or their own futures and blame rising costs, taxes and the boost in the minimum wage, says a new survey by the Ontario Chamber of Commerce. One-quarter of small businesses across the province not only expect lower profits this year, but say they will also continue to shed jobs for the next six months or halt hiring, the survey also found. Article Continued Below“However, we know that we need to do even more. In particular, we appreciate the (chamber’s) recognition of the need for businesses to remain competitive.” PC Finance Critic Lisa MacLeod, who continues to meet with small business owners, said low confidence levels are a worry. “… A lack of confidence in reinvesting … the rapid, recent increase in the minimum wage” and “hydro costs still remain of concern to Ontario businesses, and that really hampers whether they want to expand or even stay open, in many cases.”

Source: thestar February 07, 2018 19:07 UTC