Canada's small business community is anticipating an increase in employment insurance premiums
As Canada makes its way out of economic turmoil, many are hoping that the small business sector will continue to increase national employment rates. Yet, the potential for new employment opportunities remains to be seen until the federal budget plans are revealed.
According to a report from the Globe and Mail, many speculate that employment insurance premium increases may be included in the 2011 budget announcement. The source reports that small businesses seem to interpret increasing these premiums as a disincentive to hire.
The Canadian Federation of Independent Business wants to slow these increases, but fears EI increases are somewhat inevitable.
"Employees and employers contributed very significantly to the general revenue coffers and in an ideal world would see that money returned to them," Catherine Swift, president of the Canadian Federation of Independent Business, told the source. She says the CFIB is not "unrealistic" enough to think there won't be increases.
Hopefully, increased consumer spending will help outweigh any hardships entrepreneurs will face in light of upcoming federal budget plans. Nielsen's Global Consumer Confidence Index shows that Canadian consumers are increasingly confident about the markets.
