What will a ban on single-use plastic mean for small businesses in Canada?June 20, 20191 min read
Being environmentally friendly has become a popular trend. Climate change is occurring, and news stories of wasteful plastics clogging our waterways are becoming more frequent, making the battle against plastic waste an election issue.
Earlier this month, Prime Minister Trudeau announced a ban on single-use plastics by 2021 that will likely include straws, plastic cups, food wrapping and grocery bags. It's evident, being environmentally friendly is in everyone's best interest, but business owners are concerned about what costs will arise as a result.
Companies use plastics cups, lids and straws for take-out, plastic wrap as a significant part in food safety and freshness, and plastic bags for clients to transport purchases home. Even though these plastics are environmentally harming, some still see them as essential.
There are more than 1.1 million small businesses in Canada, and most of them will have to adapt or adjust to:
- How will this impact their bottom-line?
- How slim are the margins already for most small retailers?
- Are incentives for businesses required before implementing this new policy?
These are some of the critical questions to ask. If your small business will be affected, contact one of our experts to help.
James Brutto, Manager at Freelandt Caldwell Reilly LLP, is an expert in the areas of accounting, auditing, finance and entrepreneurship. Contact James to arrange an appointment regarding this topic by clicking the contact button below.