Fewer customers and lower spending per customer affecting small business recovery
by CM Staff
The majority of businesses are still reporting lower than normal sales, according to CFIB
Businesses are slowly beginning to reopen amid
COVID-19. PHOTO: Wikimedia Commons
TORONTO — Fewer customers and reduced spending per customer are holding back small business recovery, according to new survey results released Sept. 3 by the Canadian Federation of Independent Business (CFIB).
The results showed that:
- 64% of businesses are fully open (compared to 66% two weeks ago)
- 41% are fully staffed (40% two weeks ago)
- 27% are making normal sales (28% two weeks ago)
“We’re hoping that as people get back to fall routines businesses will get a much-needed revenue boost. Consumers are critical to small businesses and their financial and emotional support means more now than ever,” said Laura Jones, executive vice-president at CFIB, in a prepared statement.
The majority of businesses are still reporting lower than normal sales. Challenges to getting back to normal sales include: fewer customers (58%), customers spending less on average (48%) and operational challenges, such as online sales, shipping, and interrupted supply chains (27%). Government restrictions (20%) and not being able to find staff (18%) are also causing lower than normal revenues.
