Financial Wire

Fuel Costs Now Top Cost Constraint for Nearly Three in Four Small Businesses in Canada, Says CFIB

-- Fuel costs are now the top cost constraint on business growth, affecting nearly three in four firms, according to the latest Monthly Business Barometer by the Canadian Federation of Independent Business (CFIB), published on Thursday.

Fuel costs posted the largest monthly increase, rising another 20 points in April alone, noted CFIB.

In fact, CFIB said, concern over fuel costs has doubled in just two months, climbing from 36% in February to 74% in April.

Other key takeaways from CFIB's monthly Business Barometer are: the average price increase plans jumped to 3.2% in April, the highest monthly change since the tariff war with the United States last March; and small business long-term optimism improved modestly to 58.5 points in April, following the sharp decline recorded in March.

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