According to the Government of Canada’s Key Small Business Statistics 2024 report:
It all looks great on paper, but really, many owners are burning out. It’s hard to focus when you’re struggling to keep the lights on and facing issues few outsiders ever see.
You probably didn’t start your business dreaming of debits and credits and filing taxes. But money is where reality hits like a hammer. In a 2024 global mental health survey of entrepreneurs, 39.2% cited financial worries as their biggest mental health challenge.
Meanwhile, the June 2025 Business Barometer from the Canadian Federation of Independent Business (CFIB), shows small business confidence in Canada is sitting at 47.3% – an increase of seven points above May level, yet still short of the breakeven threshold of 50 on both long- and short-term horizons.
Running a small business is personal and incredibly emotional.
Many small businesses are cautious about hiring or investing, worried today’s thin margins could evaporate with the next interest rate hike or supply chain glitch.
The weight of small business decisions often falls on just one or two people. Unlike big corporations, there’s no financial safety net if sales dip. You've got the weight of the world on your shoulders, and the decisions don't just impact the business, they impact you, your family, your employees, your customers, your vendors and more.
Here's something that rarely makes it into glossy reports on small business statistics: 26.9% of entrepreneurs say loneliness or isolation is their biggest struggle.
You might be surrounded by customers or staff all day, yet you still feel like no one truly gets what it’s like to take on the risk, make the hard calls, and keep smiling through all the uncertainty.
Here’s the thing: Loneliness among small business owners is so common experts now call it a hidden mental health crisis. The Canadian Mental Health Association (CMA) has urged more support for entrepreneurs who often face this journey alone.
Running a small business means you’re the marketer, bookkeeper, sales team, HR department, and often the problem-solving janitor too.
According to Statistics Canada’s Q1 2025 Business Conditions Survey:
Meanwhile, more than half of small business owners work more than 50 hours a week. It’s not unusual for owners to sacrifice evenings, weekends, even vacations, to keep their businesses running.
These numbers tell a powerful story about Canadian small businesses.
On top of all this, the average small business with fewer than 5 employees spend up to 144 hours on payroll tax compliance and up to $1,500 on costly software fees. That's why we created Huumans Payroll. It's also why we're offering to let you use our software to pay up to five employees for a full year absolutely free.
Plus, Huumans Payroll isn't just a standalone tool. It's part of our Financial Dashboard where you can chat with Roy, an AI advisor who can answer your questions about your payroll data and how it affects your business growth and goals. You can also connect your QuickBooks Online or Xero accounts, so that you can integrate more data, ask Roy more questions and get an even better picture of how everything comes together.
