Business
Small business wrapped in red tape: CFIB

Credits: YouTube

KRIS SIMS | SUN NEWS NETWEORK

Canada's mom and pop shopkeepers say they are choking on red tape.

The Canadian Federation of Independent Businesses says excessive regulations cost small businesses $31 Billion per year.

In a study comparing Canadian retailers with their American cousins the CFIB found that Canadians pay way more for their rule checking, paperwork and licensing.

"Not all regulation is red tape, but businesses in both countries tell us regulatory costs could be reduced by about 30 per cent without harming the important health and safety objectives of regulation," said CFIB executive vice-president Laura Jones in a press release. "That's the equivalent of a $9 billion stimulus package each year in Canada with no downside."

The smallest businesses, employing five or fewer people, carry the heaviest load of busywork, paying 45 % more to comply with government imposed regulations than they would south of the border.

Treasury Board President and Conservative MP Tony Clement says the feds are making changes to remove barriers to business owners including requiring Revenue Canada Employees to give their ID numbers when dealing with small business owners over the phone.

"It's in fact a big thing, the minute you have an ID number you can track who said what to whom, force accountability into the system and it's an accountability mechanism," Clement told QMI.

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