One-third of small business owners feel they aren’t being supported by their community
One-third of Canadian small-business owners say they are not feeling supported by their community
A recent survey from Visa found that 33 per cent of small-business owners do not consider their local community supportive of their business during this difficult time.
“The Canadian economy will not bounce back until small businesses bounce back,” Stacey Madge, country manager and president for Visa Canada, said in a news release.
“Small businesses are the heart of local communities, and they have shown tremendous resilience since the onset of COVID-19. While the road ahead remains uncertain, today we are focused on building simple and effective tools that support digital enablement to help small-business owners not only survive, but also thrive," she continued.
According to the findings, 77 per cent of small- and medium-business owners are optimistic about their company's future.
However, of those surveyed, 52 per cent of respondents said they were concerned their businesses revenue would never return to pre-pandemic levels, while 38 per cent said they were concerned about an inability to attract future customers.
Further, small- and medium-business owners believe the average length of time it will take for their business to return to full capacity is 10 months.
Additionally, since the pandemic began, 76 per cent of Canadians have either reduced or completely halted their cash usage when making purchases.
Moreover, 54 per cent of Canadian shoppers believe using a contactless payment method is among the most important safety measure for stores to follow, and 40 per cent said they would not shop at a store that only offers payment methods that require contact with a cashier or shared devices.
- Many small business owners concerned about potential second lockdown
- Less than one-third of small businesses' sales have returned to pre-pandemic levels: survey
- One-third of Canadian business owners ready to move on
- Small business confidence falls to record low amid COVID-19 pandemic, CFIB says
- Rent to be lowered by 75 per cent for small businesses affected by COVID-19
- Mississauga woman speechless after massive lottery win
- Canada Post reports more cases of COVID found at Mississauga's Gateway facility
- Police warning public of new scam sent via text
- Photo radar map shows where Brampton made $1 million
- Charges laid after rescuing a raccoon being held captive in Burlington