October in Canada means falling leaves, flannel shirts, and pumpkin spice everything, but it’s also Small Business Month, a time to celebrate the entrepreneurs keeping our communities alive.
From cozy cafés in Vancouver to family farms in Prince Edward Island, Canada’s 1.2 million small and medium-sized enterprises (SMEs) make up nearly 70% of private-sector jobs. That’s a lot of grit, determination, and long hours behind every Open sign.
But behind the celebration, the truth is clear: running a small business in 2025 is tough. Inflation, supply-chain strain, hiring challenges, and outdated banking systems make daily operations feel like a juggling act.
This month, we’re shining a light on what it’s really like out there and how fintech innovation, including tools like Apaylo, can make things a little easier.
The Economic Tightrope
Small businesses are used to weathering storms, but lately the forecast hasn’t been friendly. Inflation remains a top concern for nearly half of owners, according to CFIB’s latest survey, while operating costs continue to climb.
Picture a Halifax bookstore that’s already battling online giants like Amazon. Add a 15% jump in paper and shipping costs, and suddenly supporting local businesses becomes a serious challenge. Across B.C., 86% of small business owners say they’ve had to dip into personal savings just to stay afloat.
Still, Canadian entrepreneurs are resilient. Even as margins shrink, nearly half say they’re focused on growth. That optimism is the heartbeat of Small Business Month, but it also highlights a growing challenge: managing cash flow in an economy that keeps shifting under their feet.
Banking Limits That Hold Businesses Back
If you’ve ever tried to send a $10,000 payment and been stopped by an online banking alert, you know the frustration. Traditional banks, with their daily e-transfer caps and rigid transaction limits, aren’t built for the realities of modern business.
Most small businesses hit daily e-transfer limits of $3,000 to $10,000, and larger EFTs trigger extra paperwork under FINTRAC rules. For many, that means splitting payments across multiple days or waiting for manual approvals, time that could be spent on anything else.
As one brewery owner in B.C. put it, banks can make owners feel like kids with an allowance right when they’re ready to scale.
These limits aren’t malicious; they’re just outdated. But for small businesses trying to grow, they feel like handcuffs.
The People Problem
Beyond cash flow, there’s the challenge of finding and keeping good people. Labour shortages are biting hard. Nearly 9 in 10 business owners expect hiring to stay difficult over the next five years, and wages continue to rise faster than revenue.
That pressure has real-world consequences: more stress, longer hours, and slower growth. For many owners, it’s not just about money, it’s about time.
Innovation, Red Tape, and the Digital Catch-Up
Canadian small businesses have always been innovative, but regulatory complexity and outdated systems make digitization harder than it should be. Over half of business owners say they struggle to access affordable tech tools, and many are still waiting for payments modernization to catch up with how they actually operate.
The good news is that fintechs are stepping in to close the gap.
How Apaylo Helps Businesses Move Faster
At Apaylo, we’ve heard the same story from hundreds of entrepreneurs, and we’ve built a better way to move money.
Apaylo lets businesses set their own transaction limits, removing the bottlenecks that slow down traditional payments. Need to send a large EFT or multiple payouts in a single day? Go ahead. Payments can scale with your business, not against it.
And it’s not just flexibility; it’s control. Through Apaylo’s Merchant Admin Portal and API integrations, businesses can automate recurring bills, batch supplier payments, and track every transaction in one dashboard.
For owners like Mike, the Calgary brewer from earlier, that means fewer hours spent chasing bank approvals. For Sarah, our Toronto designer, it means faster payments from clients around the world.
One merchant described Apaylo as a platform that feels like it was built by people who have actually run a business. It works well, and when help is needed, the support is there.
A Quick Look at the Numbers
| Challenge | % of Owners Affected | How Apaylo Helps |
|---|---|---|
| Inflation / Rising Costs | 49% | Batch automation reduces fees and saves time |
| Cash Flow Limits | 20%+ | Custom limits up to $2M per day |
| Labour Shortages | 88% | Automated payments free time for hiring |
| Regulatory / Tech Barriers | 52% | Secure API integrations streamline compliance |
Sources: CFIB, StatsCan, Mastercard
The Bottom Line
Small Business Month is more than a hashtag; it’s a reminder that Canada’s economy depends on people who refuse to give up.
Running a business today takes courage, creativity, and the right tools. And while we can’t control inflation or global supply chains, we can control how money moves.
Apaylo helps small businesses work smarter, not harder, with payment solutions designed to save time, reduce stress, and scale alongside their ambitions.
Ready to simplify your payments?
Book a free call with our team and discover how easy scaling can be.
