Skip to main content

#SmallBusinessEveryDay dashboard points to long, slow recovery, half say it will take at least six months to get back to profitability

  • Home
  • Media
  • #SmallBusinessEveryDay dashboard points to long, slow recovery, half say it will take at least six months to get back to profitability

Customer support remains critical to Alberta small businesses’ survival

Calgary, July 7, 2020 – Three key indicators of small business recovery have not moved much since last week after showing slight improvement the week before, according to the Canadian Federation of Independent Business (CFIB)’s small business recovery dashboard, which launched as part of #SmallBusinessEveryDay. Just over half (60 per cent) of Alberta small businesses are fully open, a small increase from last week (59 per cent), 33 per cent are back to above or normal staffing levels (31 per cent last week) and 23 per cent are making normal sales for this time of year (20 per cent last week).

Additional survey data shows around half of Alberta business owners (52 per cent) think it will take more than six months to get back to normal profitability, with over a quarter (28 per cent) saying it will take more than a year. Nine per cent are concerned they will never get back to normal profits.

“Small business recovery is going to be a long, tough road. Governments can and should do more, but ultimately businesses need sales to transition off subsidies and survive. Collectively, individual actions like trying a local business for the first time, giving your hairdresser a bigger tip or buying a new swimsuit from a local store can make a big difference,” said Laura Jones, Executive Vice-President at CFIB.

CFIB launched its #SmallBusinessEveryDay campaign last week and is currently profiling 23 different initiatives to support small businesses. Nearly 10,000 Canadians have accepted the challenge to put meaningful effort towards supporting small business.

“Survey results reveal the needle is not moving on the number of Alberta small businesses fully opening their doors or returning to normal revenues. As we enter the summer months now more than ever Alberta small businesses need our support, which is why we encourage all Albertans to take a simple small business challenge to help ensure our local businesses survive,” said Annie Dormuth, CFIB Alberta provincial affairs director.

“The number of campaigns to support small businesses is growing by the day, including #WelcomeBack, #StandWithOwners, #TakeOutDay, and #TheBigSpend. We’re profiling them all at www.smallbusinesseveryday.ca to make it easy for consumers and businesses to find how they can be part of the community helping Canada’s small businesses survive. Everyone can play their part in Canada’s economic recovery,” concluded Jones. 

For media enquiries or interviews, please contact:
Annie Dormuth, CFIB
403 700-1945
[email protected]  

About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.

About #SmallBusinessEveryDay
The #SmallBusinessEveryDay campaign is an extension of CFIB’s annual Small Business Saturday. The campaign encourages local shopping, promotes initiatives to support small business and provides posters and other tools for businesses to use. It is supported by Scotiabank, Chase Merchant Services, eBay Canada, Intuit Canada and Interac Corp. To find out more about being a media sponsor please contact [email protected].