Yes, I think so.
Big businesses, in many instances, have branches in other countries and whole departments whose only role is to deal with the regulations of various countries in other circumstances. They have consulting firms. They'll be prepared to react and adjust regardless of the regulatory framework the federal government imposes on them.
That's not the case of small businesses, which find it much harder to keep up with the regulatory pace. They aren't there to do this kind of work because, in many instances, they have a specific objective and clearly defined missions. They don't have large departments or connections with regulatory bodies through which they can ascertain what's coming. They aren't privy to draft regulations when authorities want to change or create new rules.
If authorities wish to modernize regulations, or if the Canadian regulatory context becomes more complex, it's definitely the small businesses that will suffer most.