The Impact of the Labour Shortage on Independent Business | Oct 21, 2022
According to Canadian Federation of Independent Business (CFIB), over 75% of small- and -medium size businesses have been adversely affected by labour shortages. It is affecting business owners’ revenues and morale. 40% can’t find enough employees to meet their current operating needs, 19% can’t find the employees they need to expand or take on more contracts, while 17% have been able to attract or retain staff but at a significantly higher cost.
As a result, owners have had to work more hours (73%) and ask other employees to work more hours (54%). Labour shortages have also led to cancelled or turned down sales and contracts, delays in delivery, or completion of work, and decreases in service offerings.
Thank you to CFIB representatives, Jasmin Guenette, VP for National Affairs and Christina Santini, Senior Policy Analyst for your excellent comments and data in our meeting today and your concern for small businesses and the current staffing needs across our nation. Staffing shortages are greatly impacting our economy. I will be taking these concerns to Parliament.