US EditionOntario should rejig supports for small auto businesses in wake of tariffs, CFIB says
ONTARIO, CANADA, JUL 16 – Small and medium automotive businesses in Ontario face a 13% revenue drop amid tariffs and program eligibility limits, says Canadian Federation of Independent Business report.
- On Wednesday, the Canadian Federation of Independent Business released a report calling on Ontario to rejig support programs, based on a survey of 187 small-to-medium-sized automotive businesses.
- Facing higher costs from the Canada-U.S. trade war, small-to-medium-sized automotive businesses' revenues declined by 13 per cent, and half paused investments, reflecting uncertainty caused by tariffs.
- The spring budget allocated $85 million across two auto programs, but the Ontario Together Trade Fund’s 30% revenue loss threshold limits small business access.
- In response to the report, Jennifer Cunliffe defended current measures, while the CFIB recommended lowering the small business tax rate from 3.2% to two per cent.
- Amid ongoing tariffs, uncertainty could cost billions in lost revenue or missed investments, and the strain spans parts suppliers and repair shops across Ontario.
20 Articles
20 Articles
Ontario supports for auto industry leave small businesses in the lurch, says new report
Ontario should rejig its programs meant to support auto businesses through the impact of tariffs and associated economic uncertainty, as the way they're currently structured isn't effectively supporting small businesses, an advocacy group says in a new report.
Ontario should re-engineer its programs to support automotive companies with respect to the impact of tariffs and the resulting economic uncertainty, and their current structure leaves small businesses in a state of embarrassment, says a defence group in a new report.
Winnipeg Free Press
Ontario should rejig supports for small auto businesses in wake of tariffs, CFIB says
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Ontario should rejig supports for small auto businesses in wake of tariffs, CFIB says – EMEA Tribune – Latest News – Breaking News – World News
Ontario should rejig its programs meant to support auto businesses through the impact of tariffs and associated economic uncertainty, as the way they’re currently structured is […] Source
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