One in three businesses in Canada say they cannot survive the current coronavirus pandemic conditions for more than a month, according to a new survey.
According to the Canadian Federation of Independent Business, 60 per cent of small businesses have seen a significant drop in sales, with more than a third reporting a reduction greater than 75 per cent. “More than half of small firms have begun laying off staff, with a quarter reporting they have already been forced to lay off their entire workforce,” president Dan Kelly said. “At this rate, the only way to prevent massive additional unemployment is for government to introduce a much larger wage subsidy program.” The small-business advocacy group surveyed nearly 11,000 small business