Nearly 70% of small businesses have been disrupted due to construction: CFIB
Global News
Nearly 70% of small businesses say they've experienced disruptions in some form, including taking a financial hit, from construction projects within the last five years, CFIB says
Nearly 70 per cent of Canadian small businesses say they’ve experienced disruptions in some form, including taking a financial hit, from construction projects within the last five years, a new report from the Canadian Federation of Independent Business shows.
The most frequent issues reported were heavy traffic in the area, noise, dust and debris. Almost half of businesses reported staff and customers had trouble finding their storefront because it was blocked or hidden because of construction, leading to lost sales.
The CFIB report published Tuesday said small business owners reported losing an average of 22 per cent of revenue during the biggest construction period they faced within the past five years.
“This is an especially pressing challenge, when over half (53 per cent) of small business owners across Canada cite lack of demand as an issue for their business,” the report said.
Shoppers have been reining in their spending in general as they grapple with the higher cost of living, compounding problems for businesses struggling with construction outside their door.
Alexandra Dinsmore, communications co-ordinator at the City of Toronto, said the city recognizes the challenges and disruption that local communities face amid ongoing public construction.
“City-led construction is considered an essential service by the Province of Ontario and is necessary municipal work to ensure Toronto’s infrastructure remains safe, in a state of good repair and able to meet Toronto’s needs now and in the future,” said Dinsmore in an emailed response.
While small businesses understand the importance of infrastructure upgrades, many fold before they can reap the benefits of the completed projects, the report said.
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