Damage done to local economies as a result of COVID19

News 100 blackBy Staff

February 3rd, 2021



Anita Cassidy put it bluntly when she said, “It is not a pretty sight”.

In an update report to the Corporate Services, Strategy, Risk and Accountability Standing Committee, Cassidy reported that:

Anita inactive 20 + 21181,000 Canadian small businesses consider shutting down permanently

• CFIB (Canadian Federation of Independent Business) estimates 1 in 6 Canadian small business owners consider permanently closing

– Ontario could lose close to  75,000 businesses

• Economy risks losing 2.4 million jobs, equal to 20% of all private sector jobs
– Ontario can see over 873,000 jobs lost

• Businesses in the hospitality and arts and recreation sector most at risk
– 1 in 3 businesses considering closing.

Small Business Recovery will be an average of 1 year 5 months (across all sectors)

Anita sector recovery rates

Anita the damage 1

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2 comments to Damage done to local economies as a result of COVID19

  • Luke

    To think that the vast majority of this could have been avoided by, actually following the Science, instead of virtue signalling gobbledygook a year ago.
    It speaks volumes about the people who are elected and supposedly leading us.

    New Zealand closed their borders and have a death toll in the order of 10’s as opposed to Canada with a death toll in the order of 10’s of thousands.
    With no clear or defined End in sight.