One in six firms thinking about permanent closure

Moreover, 11 per cent in this group are concerned they may never be able to pay off the debt they took on during the pandemic.

CFIB released a report in January that said one in six small businesses was contemplating permanent closure as Canada approached a full year of pandemic restrictions.

Federal and provincial governments have introduced wage and rent subsidies and other supports such as low and no-interest loans to help businesses weather the pandemic.

but ongoing lockdowns and in-store restrictions had led to 181,000 business owners considering pulling the plug, putting 2.4 million jobs at risk across the country, according to the CFIB. Most at risk were businesses in the hospitality and arts and recreation sectors — which include restaurants, hotels, caterers, gyms and arts venues — with roughly one in three actively considering closing.

At that time, only 47 per cent of businesses reported being fully open across the country, down from 62 per cent at the end of November.

There has been a relaxation of restrictions since then in some parts of the country, including regions in Ontario and Quebec, the provinces that have had the highest number of COVId-19 cases in Canada.

For example, movie theatres and indoor swimming pools are opening in Quebec this week ahead of the spring school break there, though strict public health restrictions will remain in place, such as mask-wearing at all times in cinemas and the use of pools by only one family group at a time or for private lessons or training.

Ontario recently lifted stay-at-home orders in many regions, returning to a colour-coded system based on case numbers within those regions. Indoor dining and shopping are allowed in many cities and towns, with capacity restrictions, while Toronto and Peel remain subject to stayat-home orders with only essential shops such as supermarkets and pharmacies open. restaurants are restricted to takeout only in the regions under stay-at-home orders.