24% of Canadians Expect to Rely on Charitable Services for Essential Needs in the Next Six Months
According to a new Ipsos poll published by CanadaHelps, 24% of Canadians anticipate needing support from charitable services within the next six months to meet essential needs such as food, shelter, or health services. Of this percentage, 42% are under the age of 35. The rising cost of living is cited as the main reason for the growing demand for charitable services, with 69% of current users accessing these services for the first time. The poll also reveals that compared to last year, Canadians are more likely to give less financially to charities, with 19% planning to decrease their donations. Younger age groups show higher rates of increased giving, with 31% of those aged 18-34 stating they will give more to charities this year.
Implications of Increased Reliance on Charitable Services for New Businesses
The recent Ipsos poll revealing that 24% of Canadians anticipate needing support from charitable services in the next six months presents a critical socio-economic issue that could impact new businesses. The rising cost of living, which is driving the increased demand for charitable services, suggests a tightening consumer market, with potential customers having less discretionary income. This could pose a challenge for new businesses, particularly those in non-essential sectors, as they may struggle to attract customers and generate sales.
Moreover, the fact that 42% of these individuals are under the age of 35 indicates that younger demographics, often a key target market for new businesses, are feeling the economic strain. This could necessitate a shift in marketing strategies and product offerings to cater to this changing consumer landscape.
On the flip side, the poll also reveals an opportunity for businesses to engage in corporate social responsibility initiatives. With 31% of those aged 18-34 planning to give more to charities, businesses could leverage this trend by aligning themselves with charitable causes, thereby enhancing their brand image and appeal to socially conscious consumers. In conclusion, while the increased reliance on charitable services presents challenges, it also offers opportunities for new businesses to adapt and demonstrate their commitment to supporting their communities.