Concerns about supply chains and inflation top the list of business concerns for 2022. According to the CFIB’s most recent survey, the most prominent problems affecting businesses in the new year are rising pricing (81%) and supply chain challenges (70%).
After a strike at the Port of Montreal and congestion at the Port of Vancouver, flooding that blocked roads and railways to and from British Columbia in November, and additional delays throughout 2021, this latest setback would put an even greater burden on an already strained system. Is.
Furthermore, in a report released in December, the CFIB said that the transport industry has been the most affected by labor shortages, with 68 percent of businesses in the sector unable to recruit enough workers. According to the CFIB’s mid-January business barometer, small firms expect a 4.4 per cent hike in historically high prices over the next 12 months.
That level of price increases is likely to hurt small businesses’ ability to compete at a time when many are still struggling to return to regular sales.
According to the latest data from the CFIB’s Small Business Recovery Dashboard, only 30% of businesses are doing normal sales (down 36% in November), 42% are fully staffed (down 45% in November), and 65% are fully staffed (down 45% in November). are way open (down from 78 percent in November).