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COVID has hammered a number of enterprises, but we’re ignoring one way to potentially save them.
Marcelo Vieta is an associate professor at the Ontario Institute for Studies in Education of the University of Toronto. This article originally appeared in the Conversation Canada. SHARES Co-ops are often better than conventional businesses in terms of responding to and surviving crises because they source capital locally, meet local community needs and foster trust and mutual aid.
Most of Canada’s 1.2 million small- and medium-sized enterprises have been affected by COVID-19. A substantial number of them remain heavily indebted as pandemic restrictions ease, while workforce shortages and supply-chain disruptions are still a problem.