- Business planning and strategy
- Entrepreneurship
- Money and finance
Strategies and resources to help young entrepreneurs navigate economic uncertainty
Small businesses are the heart and soul of Canada’s economy. According to Statistics Canada, there are more than 1.07 million small businesses across the country—representing approximately 98% of all businesses. Behind every local business is a passionate entrepreneur with a vision to create, build and grow. But today’s economic climate presents new challenges. Rising costs, trade uncertainties, shifting consumer habits and supply chain disruptions can add pressure to even the most resilient entrepreneurs.
At Futurpreneur, we’ve been helping young founders start, buy and grow their businesses since 1996. We know that navigating uncertainty isn’t easy, but with the right strategies, support and resources, you can set your business up for success.
Here are some strategies to help you adapt, build resilience and keep your business moving forward. And don’t forget to check out the resource list at the end to help you stay informed and ahead of the curve.
1. Source locally whenever possible
Cut down on supply chain risks by working with Canadian manufacturers, suppliers and distributors. Buying local can, in many cases, reduce costs, strengthen the economy and build strong, reliable partnerships. Whether it’s raw materials, packaging or services, investing in your local networks can help your business stay resilient.
2. Explore new markets
If your current market is slowing down, consider expanding your reach. Canada’s trade agreements with Europe, the United Kingdom and the Indo-Pacific region open doors to new customers. Whether through exports, e-commerce or partnerships, tapping into new markets can bring fresh opportunities for growth.
3. Reassess pricing and costs
Inflation and rising costs can be tough, but small adjustments can make a big difference. Reevaluate your pricing strategy, bundle products or services or introduce subscription models to create steady revenue streams. Transparent pricing that reflects value will help retain loyal customers while maintaining profitability.
4. Strengthen your digital and e-commerce presence
A strong online presence helps build a trusted brand. Whether you’re optimizing your website, improving your search engine visibility or using social media to tell your story, digital tools can strengthen your brand and grow your reach. You might also explore online marketplaces or set up direct-to-consumer channels to get your business in front of more people.
Thinking about starting, buying or growing a business? Futurpreneur’s Startup Program offers up to $75,000 in loan financing with mentorship and resources to help you succeed. Learn more here.
5. Build strong business relationships
Your business network is one of your greatest assets. Developing strong relationships with suppliers, customers and industry peers can open doors to better deals, flexible payment terms and valuable collaborations. Networking events, business associations and mentorship programs—like those offered by Futurpreneur—can help expand your connections.
6. Prioritize your well-being
A thriving business starts with a thriving entrepreneur. Make time for what helps you recharge—whether it’s exercise, reading or unplugging from work to spend time with loved ones. Running a business can be demanding but taking care of yourself is key to sustaining long-term success.
7. Stay informed and plan ahead
Economic conditions evolve quickly. Keep up with industry trends, policy updates and market shifts to make informed decisions. Resources like the Canadian Chamber of Commerce, Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) offer insights to help businesses navigate uncertainty.
At Futurpreneur, we stand with young entrepreneurs because small businesses are the heart of our communities and the engines of Canada’s economy. If you’re ready to start, buy or grow your business, we’re here to help with a startup loan, mentorship and resources to set you up for success. Startup your future, today! Learn more here.
Additional resources to help you stay ahead:
🔗 EDC Guide: How Tariffs Work for Business
🔗 Canadian Federation of Independent Business Tariff Guide
🔗 Canadian Chamber of Commerce – Canada-U.S. Trade Tracker
🔗 Supporting Canadian exporters through United States tariff challenges (Trade Commissioner)
