Report highlights how business can thrive in 2024

A new report offers insight into how shifting consumer behaviours are changing the way small businesses operate post pandemic.

On Monday, the Canadian Chamber of Commerce’s Business Data Lab released A Portrait of Small Business in Canada: Adaption, Agility, All At Once.

The findings shed light on how businesses can thrive despite the rising cost of doing business, the highest borrowing costs in over two decades and the increased pandemic debt loads.

Examples for businesses include investing in technology, staying agile to embrace shifting trends and working with their chamber to call for less red tape from government.

The report also explores the unique realities, challenges and opportunities for small businesses owned by women, persons with disabilities, members of the LGBTQ2s+ community, immigrants to Canada, Indigenous peoples and visible minorities.