A survey by the Canadian Federation of Independent Business finds that 62 per cent of small business owners in the country fear reduced consumer spending is here to stay even after the COVID-19 crisis ends.
The survey, which was released Wednesday, also found that a bigger concern for small business owners is the impact of the current crisis on the economy (70 per cent).
In Alberta, 66 per cent of small business owners are concerned that reduced spending will last past COVID and 79 per cent are concerned about its impact on the economy.
“Small business owners are really worried about regaining pre-COVID-19 revenues. Customers are back but often in smaller numbers than usual,” explained Laura Jones, Executive Vice-President at CFIB.
“Small business owners are really worried about regaining pre-COVID-19 revenues. Customers are back but often in smaller numbers than usual,” said Laura Jones, Executive Vice-President at the CFIB, in a statement.
“As consumers, we can be creative and find different ways to support the small businesses that need it. Supporting our favourite businesses today gives them a tomorrow. The government can also help by ensuring support measures for big bills like rent are available.”
The CFIB said 66 per cent of small businesses in Canada are fully open; 40 per cent are fully staffed; and only 28 per cent have resumed their normal sales levels.
In Alberta, 67 per cent of small businesses are fully open; 36 per cent are fully staffed; and only 21 per cent have resumed their normal sales levels.
