Global News: Nearly 40% of businesses temporarily closed in Vancouver unsure if they’ll reopen: survey

April 21, 2020
Colin Wong


A huge number (70 per cent) of businesses are pointing to attracting customers/revenue as the biggest challenge to recovery. Half of the businesses are unsure what percentage of typical sales or revenues will be required to restart their business, with estimates ranging from less than 30 per cent to more than 70 per cent.

“Larger businesses remain concerned about their liquidity generally, and the speed and scope of support measures for employee wages,” Business Council of British Columbia CEO Greg D’Avignon said.

“While governments and the Bank of Canada have done much in the face of the COVID-19 crisis on these two measures to date, the announced programs have not reached the scale necessary to adequately mitigate the impacts of reduced sales and revenue volumes, operating cost increases or cancelled and deferred capital projects.”

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