Dan Kelly, head of the Canadian Federation of Independent Business, said the findings are sad, but that he’s not surprised, particularly considering the economic highs and lows that came about from the pandemic, and the mental burdens entrepreneurs felt as a result.
Fifty-four per cent of respondents said inflation was a source of stress, making it the top concern from a list of 19 choices. The Bank of Canada raised interest rates in response, and inflation now is hovering around four per cent. But that improvement came after the central bank increased the benchmark rate by 4.25 percentage points in the span of a year, and policymakers say they have no intention of lowering rates anytime soon.
And being an entrepreneur dealing with stress, especially when it relates to one’s business, can be lonely.
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