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Rising costs threaten small business recovery, CFIB says

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Rising costs threaten small business recovery, CFIB says — via financialpost SmallBusiness Economy Entrepreneur

Inflation and labour shortages are just some of the factors sapping businesses’ ability to get back to normal, according to the Canadian Federation of Independent Business, which release a report on the recovery.

In its report Thursday, CFIB said more than half of business owners they surveyed are yet to return to “normal” pre-pandemic revenue levels, while nearly two out of three are still carrying pandemic debt. It said only 10 per cent have been able to pay debt back in full.Article contentHe said a number of businesses stayed around during the pandemic thinking they would be able to live and fight another day but they’re quickly realizing that may not be possible.

 

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