HST

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HST

  1. 1. 2010 HST Survey Results
  2. 2. We surveyed over 270 entrepreneurs in Ontario and British Columbia about the new HST. The results of the survey are listed in this presentation
  3. 3. <ul><li>74% think the HST will increase the price of goods and services. </li></ul><ul><li>Only 7% think it will decrease the price. </li></ul>
  4. 4. <ul><li>Only 1% of respondents think the HST will increase sales. </li></ul><ul><li>37% think sales will drop! </li></ul>
  5. 5. <ul><li>65% of respondents say they would turn to their bookkeeper or accountant for HST advice. </li></ul><ul><li>59% would turn to the government. </li></ul><ul><li>32% would ask BizLaunch for advice. </li></ul>
  6. 6. <ul><li>26% of respondents are aware of their HST obligations. </li></ul><ul><li>42% are not aware. </li></ul>
  7. 7. <ul><li>33% of respondents do not plan to use more promotions. </li></ul><ul><li>44% are still unsure. </li></ul>
  8. 8. <ul><li>52% of respondents do not feel prepared for the new HST. </li></ul><ul><li>20% say they are prepared. </li></ul>
  9. 9. <ul><li>14% import goods or services. </li></ul><ul><li>77% do not import or export. </li></ul><ul><li>9% export. </li></ul>
  10. 10. <ul><li>23% of respondents will be required to collect HST selling goods online. </li></ul><ul><li>29% are unsure. </li></ul>
  11. 11. <ul><li>38% of small businesses surveyed charge PST. </li></ul><ul><li>51% do not. </li></ul>
  12. 12. <ul><li>48% of small businesses surveyed think the HST will be harmful to business. </li></ul><ul><li>Only 5% think it will help. </li></ul><ul><li>41% are unsure at this time. </li></ul>
  13. 13. <ul><li>44% think the HST will increase prices. </li></ul><ul><li>41% are concerned about having to explain the new tax to customers. </li></ul>
  14. 14. The results show that small business owners in Ontario and BC are overwhelmingly concerned about the new HST. Much of this concern is because they are unaware of their obligations and the effects it will have on sales. For more information on the HST, please see our blog post

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