Statistics Canada will release its survey on the impact of COVID-19 on businesses in Canada on July 14, 2020. (Photo by THE CANADIAN PRESS)

Statistics Canada will release its survey on the impact of COVID-19 on businesses in Canada on July 14, 2020. (Photo by THE CANADIAN PRESS)

One in five businesses face tough choices if COVID-19 lasts more than six months

Surevey results come as many businesses are looking at government programs or credit to remain afloat

A survey by Statistics Canada suggests that almost one in five businesses will look to further staffing cuts, bankruptcy or closing their doors if present COVID-19 conditions last for six months or more.

According to the survey released on Tuesday, 19.3 per cent of businesses could operate at their current level of sales and spending for less than six months but would have to take additional action if it lasts for a longer duration. Nearly 35 per cent of hotels and restaurants only have the runway for six more months of lockdown measures, says the survey conducted May 29 to July 3.

The results come as many businesses are looking at government programs or credit to remain afloat.

Almost 64 per cent of survey respondents said they were approved for outside credit or government funding programs such as Canada Emergency Business Account loans or wage subsidies. Less than 24 per cent of businesses said in the survey that their rent or mortgage payments were deferred during the pandemic.

While working from home has increased during the pandemic, only about a quarter of survey respondents indicated they would likely offer teleworking as an option going forward after COVID-19 spread is contained.

The version released on Tuesday was a follow-up to a crowd-sourced questionnaire on the Statistics Canada website, a collaboration launched in April, with the Canadian Chamber of Commerce, that surveyed 12,600 businesses. The sample was not designed to reflect the overall Canadian economy.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism? Make a donation here.

Coronavirus

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

“Skeena,” by John Hudson and Paul Hanslow is one of five fonts in the running to become the default for Microsoft systems and Office programs. (Black Press Media File Photo)
Font named after Skeena River could become the next Microsoft default

One of the five new fonts will replace Calibri, which has been Microsoft’s default since 2007

Kindergarten class out learning some basic safety and biking skills on Spirit North Day. (Rachelle van Zanten photo/Lakes District News)
Spirit North’s after school program for spring and summer begin

The Spirit North’s after-school program at Morris Williams Elementary school has been… Continue reading

Indigenous count crucial to determining services

Pandemic protection measures in place for Indigenous communities

Kenny Olson in the bakery department where he worked for the past two years. (Priyanka Ketkar photo/Lakes District News)
Community bids adieu to Kenny Olson

Retirement beckons after 40 years with Overwaitea/Save-On Foods

Beth Berlin with Lisa Cant after administering vaccines at the one-day walk-in clinic in Burns Lake last week. (Priyanka Ketkar photo/Lakes District News)
Burns Lake health area sees 50 per cent immunized population

Unknown when further clinics may be held

Jose Marchand prepares Pfizer COVID-19 vaccination doses at a mobile clinic for members of First Nations and their partners, in Montreal, Friday, April 30, 2021. The National Advisory Committee on Immunization is coming under fire after contradicting the advice Canadians have been receiving for weeks to take the first vaccine against COVID-19 that they’re offered. THE CANADIAN PRESS/Ryan Remiorz
Trudeau says he is glad he got AstraZeneca, vaccines are only way out of pandemic

‘The most important thing is to get vaccinated with the first vaccine offered to you’

B.C.’s provincial health officer, Dr. Bonnie Henry. THE CANADIAN PRESS/Jonathan Hayward
Dip in COVID-19 cases with 572 newly announced in B.C.

No new deaths have been reported but hospitalized patients are up to 481, with 161 being treated in intensive care

Solar panels on a parking garage at the University of B.C. will be used to separate water into oxygen and hydrogen, the latter captured to supply a vehicle filling station. (UBC video)
UBC parkade project to use solar energy for hydrogen vehicles

Demonstration project gets $5.6M in low-carbon fuel credits

FILE – A student arrives at school as teachers dressed in red participate in a solidarity march to raise awareness about cases of COVID-19 at Ecole Woodward Hill Elementary School, in Surrey, B.C., on Tuesday, February 23, 2021. THE CANADIAN PRESS/Darryl Dyck
B.C. ‘should be able to’ offer 1st dose of COVID vaccine to kids 12+ by end of June: Henry

Health Canada authorized the vaccine for younger teens this morning

A woman in the Harrison Mills area was attacked by a cougar on Tuesday, May 4. B.C. Conservation Officers killed two male cougars in the area; the attack was determined to be predatory in nature. (File photo)
2 cougars killed following attack on woman in Agassiz area

Attack victim remains in hospital in stable condition

A woman wears a face mask and shield to curb the spread of COVID-19 while walking in North Vancouver, B.C., on Wednesday, January 6, 2021. THE CANADIAN PRESS/Darryl Dyck
B.C. CDC updates info, acknowledging small respiratory droplets can spread COVID-19

Large droplets, not aerosols had been fixture of public health messaging for many months

A picture of Shirley Ann Soosay was rendered from a postmortem photographer and circulated on social media. (DDP graphic)
B.C. genealogist key to naming murder victim in decades-old California cold case

In July 1980, Shirley Ann Soosay was raped and stabbed to death

Mary Kitagawa was born on Salt Spring Island and was seven years old when she was interned along with 22,000 B.C. residents in 1942. (B.C. government video)
B.C. funds health services for survivors of Japanese internment

Seniors describe legacy of World War II displacement

Most Read