Small businesses prefer minor adjustments over layoffs to deal with tariffs: poll – National [Video]

Small and medium business leaders say they could have to make minor adjustments to their operations in the short term to cope with widespread U.S. tariffs on Canadian goods, but more drastic measures may be needed later on.

Companies say they prefer measures such as reduced hours or hiring freezes over significant layoffs if they are forced to make changes due to the 25 per cent levy, according to a poll of 50 small and medium enterprise leaders across Canada.

“However, many also acknowledged that these measures could only be sustained for six to 12 months before more significant workforce reductions would become necessary,” said a report by World Trade Centre Toronto, the trade services arm of the Toronto Region Board of Trade.

“This creates a potential ‘delayed impact’ scenario where initial employment statistics might suggest minimal effects, only to see more substantial job losses emerge over time if tariff conditions persist.”

U.S. …