It’s no secret that the past two years have been challenging for small business owners in Canada. In May 2020, GoDaddy Canada surveyed small business owners to see how they felt moving into the first phase of re-opening. Prior to being shut down, approximately half of the small businesses had a social media presence, and roughly the same number had a website. The top challenge businesses owners faced at that time were navigating changes in consumer spending behaviour, ensuring health and safety standards and dealing with issues in the supply chain.
As a follow-up to the 2020 survey, GoDaddy wanted to find out how small business owners were feeling more than two years into the COVID-19 pandemic. The 2022 survey, conducted by Logit Group, revealed that more than two-thirds of small businesses made changes to their online presence during the pandemic, and more than 40 percent credit the growth of their business during the pandemic to digital solutions.
The survey revealed:
Digital adaptations, including improvements to online tools and social media accounts, are here to stay:
41 percent of respondents said they would continue to maintain their online presence post-pandemic, an increase from 37 per cent in 2020.
There is ongoing support and love for local Canadian businesses:
Two-thirds of respondents said they will continue to shop local and purchase from small businesses beyond the pandemic.
Optimism is strong among small business owners who see value in digital tools and maintaining an online presence:
In particular, business growth is the leading reason for optimism among all survey respondents, followed by expanding products and services and maintaining an online presence. Optimism is most prominent among the micro-small business segment, with 42 percent of those who employ five to nine people reporting confidence in the future of their business.
Although the survey showed signs of resilience among small business owners, there are still challenges ahead. More than half of respondents said the rise in inflation is a top business concern, followed by cash flow and changes in consumer spending behaviour. More than half of small business owners reported that they had incurred COVID-19-related debt since March 2020, and one-third of small business owners said they intend to raise their prices to offset the increase in inflation.
In recognizing these challenges, GoDaddy has implemented enhanced customer support with GoDaddy Guides and expanded its integrated product suite to help small business owners. As the pandemic nears the third year, GoDaddy is helping small businesses move forward for the next three years with a domain name for only 1 cent for the first year when they sign up for a 3-year registration.
To learn more about how GoDaddy can help you get online and grow your business, visit godaddy.ca.
