82% of Canadians concerned about small business future

CFIB's research shows that Canada may lose 158,000 small businesses before the end of the pandemic

A new survey by the Canadian Federation of Independent Business indicates 82 per cent of Canadians are worried that their favourite local businesses will close down.

The new public opinion research, conducted by Maru/Matchbox, also found that 69 per cent are concerned the economy is not recovering fast enough; 76 per cent believe we need to start focusing more on economic recovery; and 95 per cent believe supporting small business is key to keeping our economy healthy.

The poll found 84 per cent of Albertans are worried that their favourite local businesses will close down; 78 per cent are concerned the economy is not recovering fast enough; 78 per cent believe we need to start focusing more on economic recovery; 95 per cent believe supporting small business is key to keeping our economy healthy; 67 per cent of Alberta small businesses are fully open; 36 per cent are fully staffed; and 22 per cent are making normal sales. 

“We are in a pivotal moment for small business recovery. Canadians’ concern that some of their favourite businesses may close is not misplaced—CFIB’s research shows that Canada may lose 158,000 small businesses before the end of the pandemic, particularly as many continue to face dramatically lower sales,” said CFIB president Dan Kelly in a news release.

“There’s a reason we all have a favourite independent coffee shop, gym, or flower shop—they give us terrific service, grow local economies and make our communities more vibrant and unique. Buying local is one of the most important things Canadians can do to help our economy recover quickly.”

The survey also found that 63 per cent of small businesses are fully open; 39 per cent are fully staffed; and 26 per cent are making normal sales.

“Back in June, we saw that Canadians were starting to be more comfortable with eating at dine-in restaurants and going to their barbers or stylists for a haircut. Now, Canadians are realizing that a slow economic recovery will hurt their favourite local businesses and community as a whole,” said Kyle Davies, Senior Vice President at Maru/Matchbox.

 

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