Small businesses across Canada are feeling the financial strain as the Canada Post strike continues, with an estimated cost of $76 million per day, according to the Canadian Federation of Independent Business (CFIB).
The ongoing strike, which began on October 22, 2018, has resulted in significant losses for small businesses that rely on Canada Post for their daily operations. The CFIB reports that the strike has already cost small businesses a total of $3.8 billion, with each day of the strike adding an additional $76 million to that total.
The impact of the strike is being felt by a wide range of small businesses, from online retailers to local shops and restaurants. Many small businesses rely on Canada Post for shipping and receiving goods, as well as for sending out invoices and receiving payments. With the strike causing delays and disruptions in mail delivery, these businesses are facing significant challenges in meeting their customers’ needs and maintaining their cash flow.
The CFIB is calling on the federal government to take immediate action to end the strike and minimize the impact on small businesses. In a statement, CFIB President Dan Kelly said, “Small businesses are the backbone of our economy and they simply cannot afford to lose billions of dollars due to a prolonged strike at Canada Post.”
The strike has also had a ripple effect on the Canadian economy as a whole. The CFIB estimates that the strike has resulted in a loss of $5.5 billion in economic activity, with every day of the strike costing the economy $110 million.
In response to the strike, the federal government has introduced back-to-work legislation, which would force an end to the strike and send the dispute to binding arbitration. However, the legislation has faced criticism from both the Canadian Union of Postal Workers and the opposition parties, who argue that it undermines workers’ right to strike.
As the strike continues, small businesses are left to bear the brunt of the financial burden. The CFIB is urging the government to take swift action to end the strike and minimize the impact on small businesses, which are the lifeblood of the Canadian economy.
