Almost 90 per cent of small business owner-operators in Canada say they are making personal sacrifices to keep their businesses afloat through U.S. President Donald Trump ’s trade war and the ongoing economic uncertainty over the past year, a new survey shows.
A small business survey conducted by fintech platform Merchant Growth, released on Wednesday, found that 69 per cent of Canadian small business owners reported reducing or eliminating their own salaries over the past year to stay afloat.
More than half (55 per cent) said they delayed a major life event, like retiring or buying a home, and one in four (24.5 per cent) said they sold assets to keep their cash flow going.
“The sacrifices that small business owners need to make just to be able to continue on in this environment is