Although many shops may open their doors again, more than half of Canadian small businesses say they can’t afford to.
A new survey by the Canadian Federation of Independent Businesses (CFIB) shows that 55% of small businesses need government help to pay June’s rent.
The study looked at more than 6,000 businesses across Canada, with nearly half of those seeing a 70% decline in revenue.
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To help, the federal government is offering the Canada Emergency Commercial Rent Assistance (CECRA). The rent relief program helps businesses paying less than $50,000/month in rent and that have seen a 70% drop in revenue. But CFIB said that isn’t enough.
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“We’ve been asking for rent relief since March. Even when CECRA applications become available we know that program will leave businesses without the help they desperately need,” said Laura Jones, CFIB’s executive vice president, in a statement. “We’re begging governments to move quickly to create additional help outside of CECRA.”
Prime Minister Trudeau has since expanded the eligibility to include owner-operated small businesses.
Many shops and facilities in B.C. are now able to reopen their doors, but several have already shut down for good, due to the pandemic.
That includes places like The Storm Crow Tavern and Army & Navy.
For more B.C. stories, head to our News section.
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