13.7 C
Kawartha Lakes
Tuesday, November 29, 2022
No menu items!
HomeNewsCFIB Says New Restrictions Could Be The End Of Many Small Businesses

CFIB Says New Restrictions Could Be The End Of Many Small Businesses

KAWARTHA LAKES-The Canadian Federation of Independent Business says new COVID restrictions brought in by the Ontario Government could spell the end of many small businesses.

“We can’t keep doing this. Two weeks to flatten the curve for the health care system is quickly turning into two years for small businesses affected by lockdowns and other restrictions.” says a statement from CFIB.

On Monday the government announced schools would be closed for at least two weeks while indoor dining and gyms would be shut down for at least three weeks.

“As we continue with our provincial vaccine booster efforts, we must look at every option to slow the spread of the highly contagious Omicron variant,” said Premier Doug Ford. “Putting these targeted and time-limited measures in place will give us more opportunity to deliver vaccines to all Ontarians and ensure everyone has maximum protection against this virus.”

The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small- and medium-sized businesses with 95,000 members across every industry and region, including 38,000 in Ontario.

Here is the rest of the statement from CFIB:

“Closing gyms, indoor dining, and arts and recreation venues is a particularly devastating way to ring in the new year for some of the hardest-hit industries already on their knees. In Toronto, indoor dining has already lost 408 days to closure. Gyms have lost 395.

Recovery has never truly begun for most Ontario businesses: Only 35 per cent of Ontario’s small firms are at normal revenues. The average COVID-19 debt for an Ontario small business is an alarming $190,000, and 18.5 per cent are actively considering bankruptcy.

There are currently no provincial supports for small businesses and desperately needed grant funding has not been available since April 7, a day before the third lockdown began. The government’s promised property tax/energy rebate program and tax payment deferrals will provide some relief; however, they are not nearly enough, not accessible today, and will kick the debt can further down the road.

Restrictions of any kind when businesses need to start making up for months and months of lost revenues will be the tipping point for many small firms. It is not lost on business owners that each time the Ontario government has closed businesses, they have gone well beyond the promised lockdown period.

CFIB calls on the government to immediately reintroduce provincial grant support for all businesses affected in any way by today’s announcement and provide an immediate pathway to reopening.”

Dan Kelly, President, Canadian Federation of Independent Business (CFIB)
Ryan Mallough, Senior Director of Provincial Affairs, Ontario
Julie Kwiecinski, Director of Provincial Affairs, OntarioC

 

Don't forget to sign up for our morning newsletter.

Catch up on all the local news while enjoying your coffee.

Pamela Vanmeer
Pamela Vanmeerhttps://www.kawartha411.ca/
Pamela VanMeer is a two time winner of the prestigious Radio Television Digital News Association (RTDNA) Award. Her investigative reports on abuse in Long Term Care Homes garnered international attention for the issue and won the Ron Laidlaw Award. She is a former reporter and anchor at CHEX News, now Global Peterborough and helped launch the New CHEX Daily, a daily half hour talk show. While at CHCH News in Hamilton she covered some of the biggest news stories of the day.

Most Popular

Kawartha 411