We’ve said this before and we will say it again (and again…)
Small Businesses are the backbone of the Canadian economy.
Canadian Small Businesses are the largest private-sector employers across the widest range of industries. They keep Canadians employed, contribute substantially to our GDP, and are the pillar of our local communities.
However, small companies with limited assets and cash reserves are being put to the test. In a short period of time, significant changes have occurred with the onset of COVID 19. Physical constraints, economic downturns, and lockdowns are all factors contributing to the most difficult situations that small businesses are currently facing. Many small business owners believed that 2021 would begin with some level of chaos and a struggle to survive. The issue now is how small companies can build resilience and maneuver through the global health and economic crises.
In spite of this, Canadian Small Businesses remain cautiously optimistic about their future according to a recent report delivered by Scotiabank. They state 69% of small businesses are prepared for the next wave of the pandemic.
We believe that it is important to be reminded how great of a role small businesses play in our economy. The health and safety of this sector and its members are critical to the future of an economically robust Canada.
The Current State of Canadian Small Business
Otonomy.ca is the online matchmaking platform for buyers and sellers of small businesses. An affordable and accessible option, where current and future small business owners can connect, interact, research, and ultimately match. Otonomy.ca is not a broker and takes no commission on the sale of your businesses. The platform is here to help solve that age-old question… where is a great place to advertise the sale of my business?