According to a new report, Canada’s SMEs focused on regulatory tasks for a regulatory task last year, and more than 250 hours of navigating the government’s deficit.
The 2024 statistics indicate the increase of 58 hours from the CFIB estimation of 2020 to an estimate of 677 hours. The time spent on the red tape also increased significantly, rising 35 % in 2020 to 256 hours in 2024.
“It’s an important time to spend more on training, planning business expansion, services to customers, and even having time with family.”
The annual cost of bureaucratic regulations is over $ 51.5 billion, and $ 17.9 billion is particularly due to the deficit. This has shown a surge in CFIB’s estimated $ 45.4 billion to $ 5 billion.
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SMEs have said that there is a heavier burden on a large -scale counterpart, and as a result, more than 5 times the cost per employee is incurred. Companies with less than five employees spent $ 10,208 per person per person, but companies with more than 100 employees spent $ 1,374.
According to the report, the time commitment for compliance between small and medium -sized enterprises was 198 hours per employee, but more than 100 employees took 8 hours per employee. 。
CFIB acknowledged that at work needed health, safety, and environmental regulations, but many others said they were excessive and worthwhile.
According to the report, if a company hindered by documents, permission, and compliance obligations, the morale of productivity, wage, and entire employees will decrease significantly.
Cruz said that if all levels of governments wanted to solve the productivity of Canadian productivity, they need to eliminate such regulations. Canadian productivity is the second lowest in the G7 when represented from the GDP viewpoint per hour.
According to reports, 87 % of the owners of small and medium -sized enterprises have stated that excessive regulations of the government significantly reduce productivity and enhancement.
The business owner told CFIB that it could be used to increase the operation, hire employees, increase wages, and improve work -life balance using money saved.
CFIB has developed a 10 -point plan designed to minimize deficit and bureaucratic disability. The plan emphasizes the importance of evaluating regulatory burden and giving priority to clear and frank language as an important political focus on regulations and public explanations.
“The owners of small and medium -sized businesses do not start a business to become a government compliance expert. Red tape tries to the entrepreneur spirit, stagnates economic growth, and overall for companies and consumers. I lost the situation. “
“If an entrepreneur is more than a month ago, imagine what you can do. If Canada wants to improve productivity and economic competitiveness, focus on cutting red tape. I need it.
