Visa Canada Encourages Canadians to Share Their #MySmallBizReco to Spotlight Small Businesses and
"The Canadian economy will not bounce back until small businesses bounce back," said
In good times and challenging ones alike, small businesses power the Canadian economy. They account for more than half of global employment and are among the most affected by the pandemic2. While (77%) of Canadian SMBs are optimistic about the future, their top two concerns following the COVID-19 pandemic are not having the same revenue as before COVID-19 (52%) and attracting new customers (38%)3. Yet, in the face of this optimism, Canadian SMBs estimate it will be an average of 10 months before their business is back to being fully operational, the longest of all countries surveyed4.
As part of Visa Canada's ongoing commitment to championing SMBs across
As part of ongoing efforts to support SMBs, Visa Canada is focused on four key areas to promote digital commerce and support economic growth, with plans to continue to evolve product and service offering as the needs of Canadian entrepreneurs continue to change. These areas include:
- Promoting local merchants: The Visa Back to
Business Project is an online tool that helps consumers identify businesses that are open in the wake of the pandemic or any other occurrence that could result in store closures. - Empowering digital-first businesses: The newly launched Visa Small Business Hub offers localized and centralized online access to information on how to start, run and grow a digital-first small business. The Hub offers solutions and guidance around building a website, selling online, accepting payments, and promoting businesses online.
Visa has also teamed up with Shopify, Wix, and WordPress.com as well asVisa's own small business payments platformAuthorize.Net , to provide deals, and educational resources on financing, expenses, building an ecommerce website and more. - Supporting business growth with marketing: As a Google Partner, Kliken is offering
Visa cardholders a credit towards Google Ads valued at up to$150 for advertising on Google6. Business owners who are looking to quickly and easily reach customers online and drive sales revenue can benefit from this offer, allowing businesses to get in front of customers during the search process. - Encouraging digital payments: Major shifts in consumer behaviour have occurred, including the overarching need for a touchless experience at the point-of-sale.
Since COVID-19 began, more than two-thirds of Canadians (76%)7 have slowed down or completely stopped their cash usage when making payments. The majority of Canadians also think using a contactless payment method is among the most important safety measure for stores to follow (54%)8 and two in five (40%)9 Canadian consumers would not shop at a store that only offers payment methods that require contact with a cashier or shared devices. Deploying contactless payment technology is critical to enabling faster, more secure commerce.
About
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1 | Visa Back to Business Study |
2 | Impact of COVID-19 on Small and Medium Businesses, |
3 | Visa Back to Business Study |
4 | Visa Back to Business Study |
5 | Visa Back to Business Study |
6 | Kliken is solely responsible for this offer and will deliver it through their digital advertising platform |
7 | Visa Back to Business Study |
8 | Visa Back to Business Study |
9 | Visa Back to Business Study |
SOURCE Visa Canada
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