The Canadian Federation of Independent Business (CFIB)’s latest Small Business Recovery Dashboard shows small businesses continue to struggle during the pandemic:
- 51 per cent of small businesses are fully open (compared to 47 per cent last month)
- 39 per cent are fully staffed (compared to 36 per cent last month)
- 25 per cent are making normal sales (compared to 22 per cent last month)
“February tends to be a low-sales month, but this February is a real heartbreaker,” said Laura Jones, CFIB’s executive vice-president. “Small businesses are now 11 months into seeing their revenues plummet. Many have been forced to shut down even as Amazon and big box sales soar.”
Regionally, businesses are recovering at different paces, with Ontario seeing the lowest results in all three categories:
Make small business your valentine this year
“Valentine’s Day is a great opportunity to show double the love. Buy flowers, chocolate, wine, and other gifts for your special people at a local business. Going to a neighbourhood restaurant or ordering takeout is also a great way to celebrate. And if you can, be extra generous. Who doesn’t need a little Valentine’s Day boost this year?” added Corinne Pohlmann, CFIB’s senior vice-president of national affairs.