TORONTO, Oct. 7, 2020 /CNW/ – Canadian small business owners impacted by the COVID-19 pandemic remain cautiously optimistic about their future, according to Scotiabank’s recent New Path to Impact Report. Two-thirds of businesses report being in a worse situation now, compared to before the COVID-19 pandemic. Despite the strong headwinds businesses are facing during the pandemic, the report revealed 40% of small business owners are ‘very’ or ‘extremely’ optimistic about the future of their business.
While the future effects of COVID-19 are uncertain, the report uncovered that most businesses are feeling more prepared, with 69% stating their business is better equipped to survive a second wave of the pandemic.
“The resiliency of Canadian business owners throughout the pandemic has been commendable. Whether they’ve pivoted to rely more on digital channels, taken advantage of relief programs or adjusted their business model to serve today’s market, they’ve had to get creative