Budget 2022 response
The federal budget this year was a missed opportunity to help small businesses recover from COVID - three-quarters (72%) of small business owners did not find the measures in the federal budget helpful for their situation. Read our response to Budget 2022 and watch CFIB President Dan Kelly’s analysis here.
Two Budget Webinars, one including the Deputy Prime Minister as a guest: you can listen in on the webinar we hosted for members to learn more about what Budget 2022 means for small business (watch in EN/FR). You can also watch Deputy Prime Minister Chrystia Freeland’s discussion about the Budget with a small business lens (watch in EN).
In total, our Budget 2022 webinars had 1,190 live attendees and the recordings have been viewed a further 565 times.
COVID support winding down... but not at CFIB
As the government prepares to end all major COVID support programs for small businesses on May 7, it’s important to remember that only a quarter (27%) of business owners say they are fully recovered from the pandemic, and only 40% are back to normal revenues for this time of the year. We continue taking thousands of COVID related calls to help small businesses navigate the pandemic. https://www.smallbusinesseveryday.ca/dashboard/
Labour shortage & hiring are top concerns
The top 3 concerns business owners were calling us about in April included shortage of labour/hiring, debt management and repayment, and employment standards.
CFIB research in November 2021 found more than half of Canadian small businesses were affected by labour shortages. This proportion has been on an upward trend since the start of the pandemic.
Next month we will be hosting a member webinar on Hiring & Retention - please reach out if you would like to know more.
Feature research topic: Remote Working
Our April member survey found that 1 in 5 small businesses are offering remote work arrangements. Although there are recognizable wellness benefits, with 29% saying it increased staff satisfaction (work-life balance/well-being) and 19% noticing decreased staff stress levels, these arrangements are not without challenges: 30% say it decreases staff productivity and 53% feel it decreases staff cohesion (or team morale).
Coming up in May
May 19 | EN Best Practices in Hiring and Retention
May 25 | FR Best Practices in Hiring and Retention
Mental Health Report
Our mental health report, Near the Breaking Point: Mental Health in Small Business, sponsored by CFIB’s long-term savings partner PrimaSure, will be released on Tuesday, May 3. This study reveals that 1 in 2 small business owners report difficulty coping with mental health challenges. We are working with PrimaSure to bring to life a Workplace Wellness hub, providing resources and information to help support wellness in small business workplaces. The hub will launch in June.