How Canadian Small Businesses Are Fighting for Survival

The current climate is incredibly difficult for small businesses in Canada. Rising inflation, unreliable supply chains, and the unpredictable trade policies of Donald Trump are creating major challenges. These issues are particularly hard on sectors like agriculture, manufacturing, and vehicle production, forcing entrepreneurs to constantly adjust their business models.

Since 2024, more small businesses in Canada have closed than opened, a trend the Canadian Federation of Independent Business has labeled an "entrepreneurial drought." Despite this, small businesses remain vital to the economy, employing over 11 million people and serving communities nationwide. These businesses include local restaurants, laundromats, and moving companies.

For many entrepreneurs, survival depends on creativity and adaptability. In this Small Business Survival Guide, five business owners share their struggles and the strategies they're using to stay afloat. The guide, presented by Canadian Business and Maclean’s, highlights the resilience needed to navigate today’s economic landscape.