Business owners in BC are slashing their own salaries, delaying retirement and selling off assets just to keep the doors open.
An Angus Reid poll done for digital financing tool Merchant Growth shows that of the representative 1,505 business owners surveyed, 86% have made personal sacrifices in order to stay in business.
Beyond the sacrifices listed above, 55% of business owners are also delaying major life plans like buying a home or starting or expanding their family and 12% have picked up a full-time job, in addition to running their business, in order to make ends meet.
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“Small businesses are the backbone of the Canadian economy," said David Gens, founder and CEO of Merchant Growth.
"They’re fighting through inflation, tariffs, and slower spending, all while making personal sacrifices most people never see. We need to stop treating them as if they’re on their own, because their resilience is what keeps our communities and economy moving forward.”
The findings have been summarized in the 2025 Canadian Small Business Resilience Report put together by Merchant Growth.
In the wake of a triple whammy of tariffs, economic slowdown and inflation, 73% of BC businesses feel abandoned by governments.
64% feel governments are not providing enough support and have left businesses to fend for themselves.
For instance, the slew of ‘tariff relief’ programs that the federal and provincial governments introduced have fallen short by being too slow, complicated, and restrictive, according to business owners.
For example, PacificCan’s Regional Tariff Response Initiative requires applicants to employ at least 10 full-time employees and have at least 2 complete years of financial statements.
Many small local businesses, including those that recently opened, will not make the cut and will be left behind.
No meaningful support has led to that 86% of BC business owners making personal sacrifices in order to keep the lights on.
While tariffs have spawned Buy BC and Buy Canadian sentiments, 57% of businesses say they have seen no noticeable positive impact on their business.
That is likely because, as outlined in previous Angus Reid polls, 56% of Canadians admit to not buying local because the price is too high, 35% can't find the exact product they want at a local business and 26% complain about lack of store locations.
Meantime, 82% of businesses say inflation is their top challenge, followed by 39% citing weak consumer spending.
Tariffs have negatively impacted Canadian businesses with 57% saying they have increased the cost of goods and supplies they have to buy to keep running, 21% citing supply chain disruptions and 12% suffering cancelled or paused contracts and orders.
Thumbnail photo by Vitaly Gariev on Unsplash
