School of Policy Studies

School of Policy Studies
School of Policy Studies

Wave of business closures to hit Canada despite feds' help: CFIB

April 22, 2020

Published by Bloomberg News Network (BNN)
, Shelly Hagan with comments by Don Drummond, School of Policy Studies, Queen's University

Tens of thousands of Canadian businesses will be forced to shut permanently because they won’t be able to weather the effects of social distancing measures, according to the head of a lobby group.

The government of Prime Minister Justin Trudeau took too long to roll out emergency support programs and as a result, many companies won’t survive, says Dan Kelly, president at the Canadian Federation of Independent Business. A survey of CFIB members shows 80 per cent of small and medium firms are closed or operating at reduced capacity because of the pandemic, meaning only 20 per cent are fully operational.

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