--- CFIB survey shows nearly a third of small business owners have experienced mental health problems during the pandemic
A survey released by the Canadian Federation of Independent Business (CFIB) indicates that two out of five entrepreneurs work longer hours than before the pandemic. The survey also shows an increase in mental health problems among managers of small- and medium-sized businesses, with one-third of them in the province reporting more difficulties with their mental health.
The survey is based on approximately 4,247 respondents, who answered the survey in late October and early November. The biggest concern for small business owners was the uncertainty around a second wave, economic repercussions and reduced consumer spending, even after the end of COVID-19.
From a provincial perspective, Quebec is slightly ahead of Ontario in the percentage of businesses that remain fully open. Around 68 per cent of Quebec businesses are fully operational, compared to 63 per cent in Ontario. The sectors with the lowest percentage of fully open businesses were hospitality and the arts and recreation.
In response to the difficulties of business management in Aylmer under a red zone designation, the Association des professionnels, industriels et commerçants d’Aylmer (APICA) has sent out 25 ideas to help business owners during the Christmas shopping season. These include streamlined pick-up services, direct communication with clients through texting and phone calls and increased social media interaction with clients.
The survey found that only 23 per cent of the respondents reported their revenue had stayed the same during the pandemic, while just 10 per cent reported their revenue was better than last year. A little over half of the business owners surveyed agreed that they had seen a further drop in revenue sales due to fear surrounding the pandemic’s second wave.
However, the most concerning statistic from the survey shows that 35 per cent of businesses are losing money every day that they are open.
Access to the full survey is available at www.cfib-fcei.ca.