Statistics Canada said that from January 2023 to January 2024, Saskatchewan lost 91 local business -- eight in Regina, 30 in Saskatoon and 53 in other areas of the province.
“When we look at 2018 to where we are today, we have lost 875 businesses in Saskatchewan. That is sustained. That is continual. That is not something that a healthy economy sees,” said Aleana Young, NDP jobs and economy critic.Statistics Canada released data Monday showing that from January 2023 to January 2024, Saskatchewan lost 91 local business — eight in Regina, 30 in Saskatoon and 53 in other areas of the province.
Brianna Solberg with the Canadian Federation of Independent Business said taxes and regulatory costs are still the number one concern businesses are facing. She also said insurance costs are climbing the ranks and it’s more difficult to be in business than even at the height of the pandemic due to inflationary costs.“We’ve heard from insurance brokers that it’s the cost of claims and the number of claims that’s hiking premiums.”The CFIB has asked the provincial government to consider removing the provincial sales tax on insurance because right now, businesses pay the insurance premium pack as well as the PST on insurance.
“People are struggling because they’re having to pay more for food at the grocery store, to put gas in the tank, to pay their power bill, to pay their mortgage. We are not going to see spending,” she said.Public service unions will fight 3-day in-office mandate. What to knowThe provincial government said on Wednesday that with 122 small businesses for every 1,000 people in Saskatchewan, the province has the second highest per capita rate in the country.
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