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TORONTO, May 26, 2021 /CNW/ - The phasing out of federal small business subsidies for rent and wages is set to begin on July 3, while small businesses face fresh or renewed lock downs in much of the country, warns the Canadian Federation of Independent Business (CFIB). CFIB is urging the federal government to extend its support programs at their current rates until the economy is fully reopened and Canadians are able to head back to indoor dining, services and activities as well as travel and events.
Only 54 per cent of businesses are fully open (down from 56 per cent in April)
Small businesses in BC face longer road to economic recovery
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The Canadian Federation of Independent Business says small businesses across BC including the north will continue to struggle even as the recovery from the pandemic continues.
CFIB Senior Policy Analyst Muriel Protzer. (Photo supplied by Canadian Federation of Independent Business.)
This is contrary to a Scotiabank survey where 55% of large and medium-sized businesses polled believe they’ll return to pre-pandemic levels in the next six months.
Senior Policy Analyst for BC, Muriel Protzer spoke to
MyPGNow.com, who noted their February survey painted some much different results.
It showed Saskatchewan’s unemployment rate was 7.3 per cent in February 2021, up 0.1 per cent from the previous month. Employment in Saskatchewan was 550,000 jobs, a 0.4 per cent improvement from the previous month. But compared to the same month last year, population grew 1,000, the labour force declined 18,300, and employment declining 23,000. Young, who is a small business owner herself, said, “We all know there are so many people struggling to get by right now and while vaccines are certainly a light at the end of the tunnel, people don t know if their job will be there to come back to. And what we re calling for today is we need a plan that helps small businesses rehire those that they ve had to lay off. And we need to support women getting back into the workplace. We know this pandemic has disproportionately impacted women.
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