While pandemic restrictions have lifted, small business owners are still feeling the pinch.
That’s according to the Senior Director, Legislative Affairs, Atlantic with the Canadian Federation of Independent Business, Louis-Philippe Gauthier.
Gauthier says while optimism is up among members, small businesses are still feeling the crunch, with over 60 per cent having accumulated debt over the past two years. On top of that, there’s the strain of rising fuel prices.
He says he’s heard from many people who have had to park company vehicles and some contracts have become problematic for business owners due to the cost of diesel.
A recent survey conducted by the CFIB shows that 66 per cent of their members reported being close to burnout. However, Gauthier says it’s not only the employers they’re concerned about.
He says in 2020, 35 per cent of employers believed they had employees facing mental health issues. Now, that number is at 54 per cent. He says all the pressures of the pandemic are coming down on both owners and their employees.