Economy Concerns Small Business Owners

Despite businesses reopening and operations resuming, six out of 10 small business owners in Canada fear consumer spending will stay low even after the COVID-19 pandemic ends, says a Canadian Federation of Independent Business (CFIB) survey. The only bigger concern for small business owners is the impact of the current crisis 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," says Laura Jones, executive vice-president at CFIB. Its ‘Small Business Recovery Dashboard’ shows that in Canada 66 per cent of small businesses are fully open and 40 per cent are fully staffed. However, only 28 per cent have resumed their normal sales levels.