We know that COVID-19 has hit most businesses hard across Saskatchewan and, for many, the road to recovery is still a long one. Our research shows that economic recovery must be a priority for Party Leaders on October 26th.
We have surveyed our members nearly every week during the pandemic to find out how the virus is affecting businesses like yours. Each week we share this feedback with key officials from all levels of government. Our information helps them build supports to better help the businesses that need it and to help our provincial economy recover.
Saskatchewan's small business landscape during COVID-19
Small Business Recovery Dashboard
In Saskatchewan, 76% of businesses are fully open and 46% are at normal staffing levels for this time of year, but only 36% of businesses are at normal revenues for this time of year.
Furthermore:
- 7 out of 10 small businesses worry that customers won’t come back, meanwhile Amazon’s sales are up;
- 75% of Saskatchewan’s small businesses have taken on debt related to COVID-19 at a (national) average of $135,000 each;
- 6,283 or 16% of Saskatchewan small businesses are worried they will have to close their business permanently; and
- It will take 1 year and 5 months for small businesses to return to normal sales, on average. For some sectors, like hospitality, the recovery could take years at its current recovery pace.
To learn more about CFIB's COVID-19 economic research, visit:
- Investigating the impact of COVID-19 on independent business
- Research Snapshot: How many Canadian businesses are at risk of permanently closing due to COVID-19?
- Research Snapshot: Small Business and Personal Protective Equipment (PPE)
- Research Snapshot: Are Canadian small businesses headed for an L-shaped recovery?
