In Canada, the report uncovered key opportunities for Canadian businesses:
- More than 80% of Canadian small and medium size businesses (SMBs) are at least somewhat familiar with their environmental (82%), social (84%) and community (84%) impact.
- The top three issues identified by Canadian SMBs as most essential for businesses, government and society to address are: skills development and lack of education (37%), racial inequality (30%) and poverty (23%).
- At least 70% of Canadian SMBs believe the pandemic presents an opportunity to promote sustainability (77%), diversity (70%) and community efforts (73%).
Employee well-being top concern for Canadian SMBs
When asked which positive initiatives they currently prioritize, 51% of Canadian SMBs cited employee health and well-being – the highest percentage among all the markets surveyed. Other top responses included prioritizing diversity (31%), sustainability and environmental issues (29%) and community investment (26%).
When asked why having a positive social and environmental impact matters to their business, two of the top three reasons given by Canadian SMBs were attracting new customers (38%) and lowering costs (32%). The third most popular reason, cited by more than a quarter of respondents (26%) is because it is simply the right thing to do.
“Canada is internationally renowned for its efforts in promoting diversity, supporting justice and protecting the environment, and our Knocking Down Barriers survey indicates that reputation is well earned,” said
Report coincides with Sage’s new sustainability and society strategy
Sage conducted the Knocking Down Barriers survey to coincide with the launch of its ambitious new global sustainability and society strategy, which builds on the success of its five-year-old corporate philanthropy program,
Sage CEO
To achieve its goals, Sage is focusing on three strategic pillars:
Tackling digital inequality for innovation, enterprise and progress
According to the
Tackling the climate crisis by powering sustainable business models
Canadian SMBs are eager to reduce their environmental footprint and Sage is ready to help. The company is building on the success of its small business advice platform, Sage Advice, which serves over six million small businesses globally, with a Sustainability Hub to guide small businesses on their journey to addressing their own impact.
In addition to helping SMBs understand and reduce their environmental impact, Sage aims to reach net zero across scope 1, 2 and 3 emissions by 2040, by reducing the impact of its own business operations, cutting emissions by 50% by 2030 and efficiently managing its supply chain.
Sage has also committed to the SBTi (science-based target initiative), the UN climate change Race to Zero and signed up for the UN Global Compact Business Ambition for 1.5°C Pathway. Sage continues to participate in the annual CDP (formerly
Tackling economic inequality by supporting underrepresented groups
Starting and growing a business is a proven route to long-term employment, high job satisfaction, and wealth creation, but many people lack the confidence, skills, and financial support to do so. In the Knocking Down Barriers report, on the topic of why all Canadians do not have an equal opportunity to start their own business, the top three reasons given by Canadian SMBs were lack of access to private finance (60%), lack of government funding/support (50%), and inequality of knowledge/resources (50%).
To help address this problem, Sage is providing strong digital and financial foundations for businesses and start-ups run by underrepresented groups, including a three-year global partnership with non-profit lending platform
In Canada, the
“Our partnership with Sage began in 2017 through their Grants for
About Sage
Sage is the global market leader for technology that provides small and medium businesses with the visibility, flexibility and efficiency to manage finances, operations and people. With our partners, Sage is trusted by millions of customers worldwide to deliver the best cloud technology and support. Our years of experience mean that our colleagues and partners understand how to serve our customers and communities through the good, and more challenging times. We are here to help, with practical advice, solutions, expertise and insight.
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Media Contact
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monique.daniel@sage.com
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Methodology
Sage undertook an online survey of 11,504 SMB decision makers (18+ adults) working in businesses employing 250 or fewer people in
Source: Sage
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