March 8, 2023
The 2023-24 Yukon Budget delivers some stability for small businesses at a time when many are still feeling stressed and uncertain about the future of the economy.
The allocation of funding to address healthcare challenges will also be welcomed by Yukon small business owners. In response to a recent CFIB survey, 88% of small businesses indicated that “addressing healthcare challenges” should be a top priority for the territorial government in 2023. Other priorities include:
- Addressing the rising costs of doing business (91%);
- Ensuring labour policies are reasonable for employers (88%);
- Reducing the overall tax burden (87%); and
- Reducing red tape (76%).
“Given all the challenges small business owners are currently facing, namely heavy debt loads, skyrocketing inflation, increased input costs, and rising interest rates, we appreciate that this year’s budget includes no new costs for small businesses,” said Brianna Solberg, CFIB legislative affairs director.
“However, with the Yukon government predicting a $48.2-million surplus for 2023, we would have liked to see additional measures introduced to support small business recovery.”
