Cost pressures and trade uncertainty impacting Calgary businesses in Q3
Calgary, AB, November 6, 2025 – New data reveals that businesses in Calgary are facing mounting economic challenges. According to data from a partnership between Statistics Canada and the Canadian Chamber of Commerce’s Business Data Lab, 24 per cent of Calgary businesses are pessimistic about the future – the highest level since Q4 2023.
The report further notes that 58 per cent of Calgary businesses identify cost-related obstacles as their most pressing concern in Q3 2025. The next four largest concerns – including inflation and debt costs – are also directly tied to rising expenses, and one in four say they cannot take on additional debt, highlighting severe financial strain.
“With cost-related pressures emerging as the most significant obstacles for Calgary businesses, it’s clear that many are struggling to stay competitive in today’s challenging economic environment,” says Ruhee Ismail-Teja, Vice President, Policy & External Affairs at the Calgary Chamber of Commerce. “When nearly one in four businesses are pessimistic about the future, it signals more than a temporary slowdown – it points to deep structural issues. We commend all levels of government for recognizing these pressures and taking steps to strengthen business resilience, such as those introduced in the federal government’s 2025 Budget.”
Trade uncertainty also continues to weigh on Calgary businesses. One-third (33 per cent) report being negatively affected by U.S. tariffs, while 48 per cent are holding off on action over the next 12 months due to uncertainty. Further, 49 per cent expect supply chain challenges to worsen, which impedes their willingness to expand to new markets.
“Rising costs and an unpredictable trade environment are forcing many to pause critical growth decisions,” adds Ismail-Teja. “We recognize the ongoing commitment from all levels of government to tackle these trade challenges, and we encourage continued focus on strengthening trade-enabling infrastructure, streamlining regulatory processes, resolving labour disruptions and expanding Canada’s international trade opportunities. By working together, we can create the conditions businesses need to invest and grow.”
Quick Facts
- Business pessimism rises to 24 per cent, the highest level since Q4 2023, and up 10 percentage points year-over-year.
- 49 per cent of Calgary businesses expect supply chain challenges to worsen, an increase of 19 percentage points year-over-year.
- Cost-related obstacles are the largest challenge for 58 per cent of businesses, followed by inflation (44 per cent), interest rates and debt costs (25 per cent), attracting new or returning customers (24 per cent) and insurance costs (21 per cent).
- One in four businesses (25 per cent) report they cannot take on additional debt.
- 48 per cent of businesses are not planning any action over the next 12 months due to U.S. tariff uncertainty.
- Many businesses are uncertain about the impact of Canadian or U.S. tariffs on their operations (20 per cent and 23 per cent, respectively).
– 30 –
About the Calgary Chamber of Commerce
The Calgary Chamber exists to empower our business community to advance a prosperous Calgary and Canada. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization founded in 1891, we build on our history to serve and advocate for businesses of all sizes, in all sectors across the city.
Media opportunities
For media inquiries, please contact: [email protected]
