CFIB's #SmallBusinessEveryDay Big Thank You Contest celebrates those who forge ahead against the odds
TORONTO, Oct. 1, 2024 /CNW/ - The Canadian Federation of Independent Business (CFIB)'s Big Thank You Contest kicks off today, marking the start of Small Business Month. The contest is a chance for Canadians to thank and celebrate the entrepreneurs who power our economy despite mounting challenges.
"It's getting harder and harder to run, let alone start, a business. From coast to coast, we're seeing longtime, iconic places that have been in business for decades fold under the pressures of high costs and reduced demand," said Ryan Mallough, CFIB's vice-president of legislative affairs for Ontario. "Our communities are built on the success of these local businesses. It's important to celebrate the entrepreneurial spirit and the people who take the risks to keep our communities thriving."
While business conditions over the past six months appear to be improving, one in four businesses are still reporting they are in poor health.
In fact, more than half of business owners (53%) would not advise someone to start a business right now. Most cite difficulty keeping up with the cost of doing business (89%), the high tax burden (72%), stress about the economy (76%), and excessive government paperwork (62%) as the main reasons behind their belief that now is not a good time to start a business.
"If we want to boost our lagging productivity, create more jobs, and keep our local economies vibrant, we need to do more to support small businesses," added Mallough. "Governments have a big role in this, but as citizens we can all do our part to uplift small business owners."
Canadians can win big while thanking their favourite small businesses*
The Big Thank You Contest is presented by CFIB with support from Scotiabank, Interac Corp. (Interac), and Chase. Small business supporters can enter weekly draws by visiting SmallBusinessEveryDay.ca and leaving a thank-you note to their favourite small Canadian business. The winners— one supporter and the business they thanked— are announced every week.
Entrants can win a cash prize of $750 to shop locally and a Big Thank You gift box full of small business products. The winning business they thank will also receive a cash prize of $2,000, a Big Thank You box, and a one-year CFIB membership.
"Every time you spend a dollar at a small business or locally-owned franchise, 66 cents is recirculated into the local economy. In this way, we're all tied to our local small businesses' success," said Emily Boston, CFIB's senior policy analyst. "Starting a small business is a leap of faith— saying thank you is the least we can do for those who have taken that leap."
Business owners can download CFIB's digital toolkits, which include printable posters and customizable social images, to promote the contest and local shopping. For more information on how to support small businesses, check out SmallBusinessEveryDay.ca.
Methodology
Final results for the Your Voice – September 2024 survey, an online survey conducted from September 5-23, number of respondents = 2,187. For comparison purposes, a probability samples with the same number of respondents would have a margin of error of +/-2.10%, 19 times out of 20.
*About #SmallBusinessEveryDay Big Thank You Contest
The #SmallBusinessEveryDay Big Thank You Contest, created by CFIB, encourages support for independent businesses by inviting Canadians to send thank-you messages to their favourite small businesses. Every week from October 1 to October 28 an entrant wins $750 cash and a Big Thank You Box that includes small business products from across Canada. The winning businesses will receive a $2,000 cash prize, a one-year CFIB membership and a Big Thank You box. The contest is sponsored by Scotiabank, Interac, and Chase. For more information about the contest and to enter, visit SmallBusinessEveryDay.ca. Contest rules can be found at cfib.ca/sbedrules.
About Scotiabank
Scotiabank's vision is to be our clients' most trusted financial partner, to deliver sustainable, profitable growth and maximize total shareholder return. Guided by our purpose: "for every future," we help our clients, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With assets of approximately $1.4 trillion (as at July 31, 2024), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on X @Scotiabank.
About Interac Corp.
Interac empowers Canadians to transact digitally with confidence by providing payment and value exchange services. In helping to develop the future of money and data in Canada, security is the core of everything we do. We help keep Canadian customers safe and secure when transacting. With nearly 300 financial institutions connected to our network, Canadians choose Interac products over 20 million times a day on average to exchange money. Interac champions workplace culture, community, and corporate citizenship. We are proud to be one of Canada's leading and most trusted financial brands. Learn more at interac.ca.
About Chase Payment Solutions
Chase Payment Solutions, a subsidiary of JPMorgan Chase & Co. with headquarters in Toronto, Ontario is a leader in payment processing for businesses of all sizes. More than 110,000 Canadian business locations trust Chase with their payments. Choosing Chase Payment Solutions means partnering with a global payments leader that processes more than $2 trillion worldwide in annual debit and credit card volume. Chase Payments Solutions has operated in Canada for more than 20 years, with 200 employees across the country. More information can be found at chase.ca.
About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 97,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.
SOURCE Canadian Federation of Independent Business
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