#GLOBALNEWS Trade war could kill 1 in 5 BC small businesses within 6 months: CFIB
Trade war could kill 1 in 5 BC small businesses within 6 months: CFIB
One in five small businesses in British Columbia could go under within six months, without help or a speedy resolution to Canada’s ongoing trade war, according to an industry group.
The Canadian Federation of Independent Businesses (CFIB) says a recent survey of its members has concluded small businesses are being disproportionately hammered by U.S. tariffs on steel and aluminum and Canada’s own retaliatory tariffs.
“A bad deal is the worst case scenario, but the next worst thing is the uncertainty,” said Ryan Mitton, CFIB director of legislative affairs for B.C.
That’s a concern for Megan Nakazawa, owner of Local Space in Chilliwack.
Even though her business sells only Canadian products, she says her company is already feeling the consumer chill.
Global’s Richard Zussman reports.
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