Canadian small business owners struggle with fatigue & admin woes

Research from Dext has found that a significant proportion of Canadian small business owners are questioning whether pursuing their business dreams remains worthwhile amid current economic challenges.

The survey of 342 senior decision-makers at small businesses with between one and 49 employees highlighted a notable sense of fatigue and disillusionment within the sector. According to the findings, 36 per cent of respondents admitted they have lost sight of why they started their business, while over a third are considering if their original dream is still worth following.

Small businesses cited a range of ongoing challenges, including increased operating costs, economic uncertainty, and shifts in consumer behaviour. Over half of respondents (54 per cent) characterised the present climate as the most unpredictable business environment they have experienced in the past decade. Additionally, half reported that they think the current situation is even less predictable than the environment during the COVID-19 pandemic.

"Many hardworking business leaders have lost their spark and are running on empty," said Joanne Modugno, General Manager, Dext North America. "Small businesses are under immense pressure. We're hearing it loud and clear from our customers that today's economy is one of the toughest they've experienced. It's no wonder so many are questioning whether their dream is worth it."

Dext supports approximately 50,000 small and medium-sized businesses in Canada. The research reveals that in the next 12 months, primary objectives for business owners include growing revenue (50 per cent) and managing cash flow (38 per cent). However, the task of managing finances and administrative matters continues to pose a considerable challenge for many.

The survey found that 36 per cent of small business owners feel overwhelmed by financial administration, while 59 per cent view it as "a necessary evil." For 30 per cent, financial administration is the most dreaded part of their role.

Despite these findings, only 32 per cent of respondents currently work with an external accountant or bookkeeper. By contrast, 41 per cent are managing finances independently, and 13 per cent rely on friends or family members for support. Interestingly, 44 per cent of business owners believe they would be better leaders if they could dedicate less time to administration tasks.

"The small business owners we work with are incredibly passionate about what they do, but very few start their business because they love managing the numbers," said Steven Adams, Chief Operating Officer at Sharp Bookkeeping Solutions. "We see every day how overwhelming financial admin can be. It's rewarding to take that burden off their shoulders so they can focus on what they do best - growing the business they've dreamed of building."

The research also asked participants what they would do if they could reclaim the time currently spent on financial administration. The majority stated they would prioritise growing revenue (72 per cent) and focus on their own well-being, with 67 per cent indicating they would use this time to recharge.

Accounting automation platforms, such as those provided by Dext, are positioned as a means for small business owners to reduce time spent on financial administration. According to the study, tools of this type can help owners cut costs and shift their attention to key activities that drive business growth, as well as enable them to spend more time on what they value most.

The survey was undertaken by Censuswide and focused on responses from 342 senior decision-makers at small Canadian businesses employing between one and 49 staff, across a variety of industries. Fieldwork was conducted over a two-week period in June 2025.