Many business owners starting to see light at the end of a 12-month-long tunnel
While it has been a long year for many entrepreneurs, some are starting to see the light at the end of the tunnel.
According to a recent report from Staples Canada, while 69 per cent of entrepreneurs are experiencing stress associated with the status of their business, 61 per cent are optimistic for the future.
Based on the findings, 92 per cent of business owners are concerned about the state of the economy, while 69 per cent are concerned about their business’s financial state, and 64 per cent are concerned about the health and safety of their employees.
Additionally, while 29 per cent of business owners reported a steep decline in revenue, that number is down from the more than 50 per cent who reported this in 2020.
Further, more than one-third of small businesses have implemented health and safety measures--such as moving to remote work.
Moreover, 39 per cent of businesses have streamlined operations by going digital, and 35 per cent intend to do this within the next six months.
As a result of this, 43 per cent of business owners said being forced to adjust to economic challenges has allowed them to innovate their business, and 38 per cent believe the changes they have made will facilitate long-term success.
- More than 80 per cent of businesses impacted by pandemic: study
- Canada at risk of losing 20 per cent of all businesses by end of pandemic
- One-third of small business owners feel they aren’t being supported by their community
- One-third of Canadian business owners ready to move on
- Nearly 20 per cent of Canadian businesses target of cyberattack
- Mississauga and Brampton face curfews, travel ban as Ford plans next COVID move
- 401 closed as Mississauga woman killed in early morning collision
- City of Mississauga planning controlled burn of portion of popular park this weekend
- Police investigating dead body found in park in Mississauga
- Mayor of Brampton Patrick Brown and wife celebrate birth of baby girl