Confidence for small businesses in Saskatchewan seems to have slumped in February.

According to the Canadian Federation of Independant Business ‘Business Barometer’, the long-term small business confidence in the province dropped 2.3 points this month, falling to 53.7 points.

For importing businesses, optimism fell only slightly by 5.6 points since September. However, confidence among exporting small businesses plummeted by 23.3 points.

CFIB attributes this to the threat of tariffs coming from U.S. President Donald Trump, as small businesses are already operating on tight margins.

To combat these levies, CFIB says small businesses plan to raise prices by an average of 3.1 per cent, the highest increase since April 2024. Wage increase plans will also drop to 2.2 per cent.