Easing the transition to a post-penny system
(Jun. 25/12) Following government’s decision to eliminate the penny, CRFA has been working toward making the transition easier for members.
Survey results: Impact on restaurateurs
We surveyed our members to determine how the penny’s elimination would affect them over the next 12 months. According to the survey:
- 58% of respondents said it would have a negative impact on their business (for quick-service restaurants, this number rose to 67%);
- 10 % of respondents in all segments indicated it would have a positive impact; and
- 32% said there would be no impact or did not know what the impact would be.
On June 15, CRFA submitted five key recommendations to government officials that would help restaurateurs transition away from the penny:
- Set a date when restaurant operators and retailers should convert to rounding, which will help businesses plan and co-ordinate actions across sectors and industries.
- Commit to a robust consumer campaign so employees don’t have to explain rounding to customers. This campaign should include downloadable visual aids identified as coming from the Government of Canada so the public is aware this is government policy and not an industry initiative.
- Confirm that restaurants/retailers can choose to round cashless transactions such as cheques and credit and debit cards to simplify changes to point-of-sale equipment and staff training.
- Compensate operators required to incur costs for point-of-sale reprogramming.
- Allow restaurant companies/retailers to provide input into any activities developed to reduce impact on charities.
Click here (PDF) to read our full submission to the Department of Finance. (French)