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Struggling Landscapes: The State of Small Businesses in B.C.
With a significant majority of small business owners in British Columbia grappling with financial difficulties, a recent survey by Merchant Growth reveals the extent of their sacrifices. A staggering 86% of business owners are making personal sacrifices to keep their ventures afloat. This trend includes reducing or eliminating their salaries and even delaying retirement.
The Economic Challenges Facing B.C. Small Businesses
From inflation to job insecurity, the challenges are stacking up, pushing many entrepreneurs to take jobs elsewhere while managing their businesses on the side. Dave Gens, the founder of Merchant Growth, notes the anxiety enveloping the small business sector: “The overall stats from our survey show about 22% say their performance has worsened in 2025,” he emphasizes. As compared to the national average, which stands at 29%, this figure is alarming and warrants immediate attention.
Inflation: A Major Roadblock
Among the myriad issues small businesses face, inflation tops the list. In fact, 82% of businesses surveyed cite it as their primary challenge. As input costs rise, businesses are compelled to increase prices, further complicating the ability to attract consumers. For many, the reality is harsh: high prices are now viewed as the greatest hurdle to local shopping.
Future Outlook: Hope Amidst Adversity
Despite the grim circumstances, there remains a reservoir of hope among some business owners. Gens believes there is a collective recognition of the importance of small businesses in crafting a diverse economy. “Having a lot of small businesses is the type of world we want to live in,” he states, advocating local shopping as a potential lifeline heading into the holiday season.
Looking Ahead: The Role of Government Support
The future remains uncertain. With a projected record deficit for B.C., can the provincial government provide sufficient support to struggling businesses? And can they find a balance between austerity and growth? It’s clear that small businesses need a strategic plan—one that involves community support and possibly intervention from the government to survive and thrive in this turbulent economy.
As we near the holiday shopping season, consumers are encouraged to consider the impacts of their spending choices. By supporting local businesses, individuals can directly contribute to the recovery of the small business landscape in British Columbia, fostering a community-driven economy that prioritizes resilience and sustainability.
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