Canada's small businesses are open but struggling during reopening phases

The Canadian Federation of Independent Business conducted a survey that revealed that half of small businesses are now earning far less than before.
Quinn Patrick Montreal, QC

The Canadian Federation of Independent Business (CFIB) has recently conducted a survey that revealed that while half of small businesses are now completely open, less than 20 percent are earning their usual income for this time of the year.

“This week marks a major milestone in Canada’s economic recovery with half of small businesses now fully open,” said Dan Kelly CFIB president. “However, the share of those making normal sales remains very low. Only 30 per cent of firms that are fully open report normal sales levels. This tells us that we have a long, long way to go before small firms are out of the woods.”

The province with the least amount of economic restrictions regarding the pandemic is New Brunswick, according to CFIB. Of the province's small businesses, about two thirds are now completely open but only about 25 percent are earning their usual sales.

Chart taken from CFIB's website

Ontario is the country's most restricted province with only 43 percent of small businesses open and they appear to be struggling the most with only 14 percent making their usual income. Nova Scotia businesses are also having trouble, operating at only 14 percent of their usual sales.

Of the small businesses that have reopened across the country, it's the hospitality/restaurant and arts and recreation sectors who continue to take the biggest economic hit from the pandemic. They have the lowest amount of establishments reopened and of the ones that are, they continue bring in the smallest amount of revenue.

Chart taken from CFIB's website

Social services and transportation are also among the lowest ranking earners to return to a post-pandemic economy. Construction sectors are also low on the list of sectors making regular earnings.

Chart taken from CFIB's website

The CFIB compiled a list of tools and resources to help small businesses get back on their feet

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