According to Dan Kelly, President of CFIB, small businesses are facing a number of obstacles this coming year. Business owners are already starting to feel a little defeated with minimum wage hikes in many of the provinces and property-tax increases on commercial buildings. Another concern are the confusing new regulations around shared income in family businesses. These changes require a tax professional to help a business owner sort it out. Payroll taxes are also on the way up and the premiums on Canada Pension plans are also set to increase. Competition from America is another concern, especially with the U.S.’s most recent tax reform, which may encourage Canadian companies to relocate.

Read more: CFIB’s 12 things small businesses will be watching out for in 2018