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Christopher Katsarov/The Globe and Mail
Most independent businesses have racked up large debts during the pandemic, according to a new report from the small-business lobby, with entrepreneurs in the hospitality and recreation sectors hit the hardest.
The Canadian Federation of Independent Business (CFIB) estimates that, based on a recent survey of its members, about seven in 10 small businesses have taken on new debt because of the pandemic, with an average debt of almost $170,000 each.