Canadians love small businesses: RBC

Small biz owners must be doing something right. The majority of Canadians (94%) believe they play a critical role in the growth of the economy, and 88% view them as vital job creators, finds an RBC survey.

Read: 4 ways to help small biz clients

Additional findings from the survey include:

• 61% would pay more for a product or service to support a small business in their community;
• 83% show their support by doing business with or promoting them;
• 73% say word of mouth referrals helps them decide which businesses to support; 68% say it’s location; 51% say it’s visibility within the community.

“This type of consumer insight can help small businesses find the success they’re seeking,” says Mike Michell, national director, small business, RBC.

Read: Tax tips: Catering to small business

He suggests small businesses should “capitalize on local support by becoming more active in their community, highlighting their local roots and asking their best customers to promote them.”

Read: Small business mood signals growth

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.