Oct 8, 2020
56% of small businesses won't easily survive a second COVID lockdown: Survey
Small businesses 'are a real engine for employment': Scotiabank's Dan Rees
Many small businesses are becoming increasingly worried that they won’t survive a second COVID-19 lockdown, according to a survey by the Canadian Federation of Independent Business (CFIB).
The report, published Thursday, found that eight in 10 small businesses are concerned about the impact that a second wave might have on their operations and more than half (56 per cent), expressed that they will not be able to easily survive if the government were to implement another economic shutdown.
In light of the results, the CFIB is urging the federal and provincial governments to do everything possible to ensure all sectors are supported if there’s another lockdown.
"At the start of the pandemic, it was understandable that governments did not have all of the needed support measures for small businesses immediately in place," Dan Kelly, president and CEO of the CFIB, said in a release.
"But now, six months in, too many businesses are still struggling to access critical supports like CEBA and help with rent for the first wave of COVID-19. It will be a massive failure on the part of provincial governments if they announce further shutdowns without comprehensive, ready-to-go supports in place."