It’s hard to comprehend why small businesses in Canada are lagging in growth, since the recent currency fluctuations have less impacts on small businesses. Thus, this should be a positive scenario for small businesses as a fall in the loonie must help them increase exports.

However, as the article states, small businesses in Canada don’t have financial knowledge and they don’t know what is the correct price for their goods and services. Which means that they are uncertain whether they are undercharging or overcharging their customers.

In my opinion being oblivious to the value or worth of the business, means that the owner isn’t ready to sell! That is he won’t be able to survive for more than five years in the Canadian economy, since he isn’t preparing his business for the uncertainties of the future. For example if he ever has to sell his business in the future, he’d be unable to do so, since his business isn’t organised. The accounting part isn’t clear, as the article states that 51% of small businesses do their own bookkeeping.

Hence, in order to survive and grow, these small businesses in Canada will need to get help from CPA, and hire accountants. In conclusion, the government of Canada must help them with easing regulations and helping them with the funding of their businesses.

Article link: https://ca.finance.yahoo.com/blogs/balance-sheet/small-business-owners-in-canada-dont-know-their-worth-152506597.html