One-third of Canadian small biz struggling more than during COVID: Poll
A new Angus Reid survey by Amazon Business Canada says one-third of the country’s small business owners are struggling more now compared to the beginning of COVID-19.
The poll also found 83% of small business owners say inflation has affected their bottom line this past year with 44% increasing the prices of their own goods and services, 20% buying in bulk and another 20% looking to new supplier relationships to secure better deals.
The survey also discovered seven in 10 small businesses operating during 2020 and 2021 are doing the same (36%) or worse (33%) compared to the initial COVID-19 years.
CFA’S ADVOCACY PRIORITIES FOR 2022-2023
- Access to Labour for Franchisors and Franchisees
- Access to Capital
- Common Employer: Adopt the 4 Factor Test
- Burdens of Small Business:
- Ensuring a Fair Playing Field for Franchised Business under Environmental Legislation
- Educating Public Officials About Franchising
Burdens of Small Business: Minimum Wage
Minimum wages are on the rise across Canada as governments seek to reach a par with living wages. While this is an ongoing challenge, minimum wage increases affect small businesses directly and immediately.
RELEVANT NEWS
Incoming Manitoba premier Wab Kinew says focus turns to fixing health care
Incoming Manitoba premier Wab Kinew said Wednesday he’s ready to start the hard work as his New Democrats work to fulfil their campaign promise to fix health care.
How interest rate hikes have sparked debate on the causes of inflation and how to fight it
Central banks have been trying their best to convince the public that their interest rate hikes are ultimately for the greater good. But not everyone is buying it.
Canada likely in ’rounding error recession,’ more trouble looming: economist
Statistics Canada has released new data about how the economy started off the third quarter, saying the country’s GDP remains essentially unchanged. One economist says it highlights an ongoing trend of weak performance.
Canada’s economic growth misses forecasts, backing interest rate pause
The Canadian economy rebounded slightly last month but still saw little growth, backing a case for the central bank to keep rates on hold despite inflation remaining elevated.
Minimum wage rises in six provinces, but is it enough?
Amid a cost-of-living crisis driving up food bank visits and economic anxiety, the minimum wage increased in six provinces today – but both advocates and critics fear it may not be enough to tackle the overarching problem.
Bank of Canada Deputy Governor: Corporate Price Increases In Part Driving Inflation
Bank of Canada deputy governor Nicolas Vincent said that price increases by corporations is partly to blame for stronger-than-expected inflation, driving the Bank of Canada to rethink its assumptions about the drivers of inflation.
CFA ADVOCACY ACCOMPLISHMENTS
The CFA is dedicated to guaranteeing that policymakers nationwide recognize the significant role played by the franchise business model in Canada’s economy and its impact on the livelihoods of nearly two million Canadians employed in franchising.
Learn more about our recent advocacy accomplishments here:
2023 | 2022 | 2021 | 2020 | 2019
Thank You to Our Advocacy Champions
THE CFA NEEDS YOUR SUPPORT!
Be active, be engaged, and get involved with the CFA’s advocacy work to help protect the franchise business model.
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