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MNI INTERVIEW: Canadian Firms At 'Scary Point' on Debt-CFIB

(MNI) Ottawa
OTTAWA (MNI)

Small owners are also struggling with pricing power as wages and supply costs surge.

Many Canadian small firms may struggle when the government calls in pandemic loans at a time of high inflation and fierce competition for workers, a top official with the nation's leading small business association told MNI.

"For some it's not over yet," said Corinne Pohlmann, who represents 95,000 firms as senior vice president of national affairs at the Canadian Federation of Independent Business. The CFIB hosted Finance Minister Chrystia Freeland a few weeks ago to go over their concerns and have asked for her to extend forgiveness on loans which were taken out by a total of 900,000 businesses across the country.

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Many Canadian small firms may struggle when the government calls in pandemic loans at a time of high inflation and fierce competition for workers, a top official with the nation's leading small business association told MNI.

"For some it's not over yet," said Corinne Pohlmann, who represents 95,000 firms as senior vice president of national affairs at the Canadian Federation of Independent Business. The CFIB hosted Finance Minister Chrystia Freeland a few weeks ago to go over their concerns and have asked for her to extend forgiveness on loans which were taken out by a total of 900,000 businesses across the country.

Keep reading...Show less