Many businesses have temporarily shuttered due to COVID-19, but as owners get the green light to reopen some aren’t sure they’ll be able to afford it. (Black Press Media files)

Low profits, few customers in post-pandemic recovery says B.C. business survey

About 43 per cent of businesses say they think they will need government incentives to continue operating

A survey of British Columbia businesses finds barely one quarter believe they can open and operate profitably as the province gradually eases COVID-19 restrictions.

More than 1,300 member businesses of the Greater Vancouver Board of Trade, the BC Chamber of Commerce and the Business Council of British Columbia were asked about the second phase of B.C.’s restart plan.

A statement from the board of trade says 26 per cent expect to open and operate at a profit while 75 per cent worry about attracting customers.

Other concerns include a lack of cash to meet expenses or new safety standards and the board says 55 per cent also believe restarting their business will take at least two months.

But owners now report an average of just 12 layoffs, down from 43 in mid-March, and the board says that likely shows the effect of wage subsidy programs.

About 43 per cent of businesses say they think they will need government incentives to continue operating.

Val Litwin, president and CEO of the BC Chamber of Commerce says despite the easing of COVID-19 restrictions, the crisis is not over for businesses across the province.

“Policy-makers must appreciate that business models will be very fragile during this early stage of the recovery cycle and that ongoing supports will be essential,” he says in the statement.

Nearly 400,000 B.C. workers have lost their jobs since the pandemic hit, says Greg D’Avignon, president and CEO of the Business Council of British Columbia.

He is calling on the federal and provincial governments to address tax, regulatory and process costs.

The survey is the third in a series conducted by the Mustel Group on behalf of B.C.’s major business organizations since COVID-19 forced closure of many sectors of the provincial economy two months ago.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Want to support local journalism during the pandemic? Make a donation here.

Coronaviruslocal business

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

New Sooke library project awarded to Nanaimo-based company

No construction timeline announced by contractor

West Shore RCMP searching for missing Langford man

The 59-year-old man was last seen Aug. 23 and was reported missing to police Sept. 20

Saanich police searching for high-risk missing man

The 35-year-old was last seen at his Saanich residence on Sept. 15

After 53 years, Saanich Jr. B team rebrands as Predators

Saanich Predators Junior B hockey team navigates COVID, culture

Liberals vow wage-subsidy extension to 2021, revamp of EI system in throne speech

Canadian labour market was hammered by pandemic, when lockdowns in the spring led to a loss of 3 million jobs

Horgan blasts B.C. Greens for refusing youth overdose detention

Lack of support key to B.C. election call, NDP leader says

Canada’s active COVID-19 cases top 10,000 as daily new cases triple over the past month

Dr. Tam repeated her warning to young people, who have made up the majority of recent cases

Greater Victoria Crime Stoppers wanted list for the week of Sept. 22

Anyone with information on any of these individuals is asked to call 1-800-222-TIPS

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Grand jury indicts police officer in Breonna Taylor death

Officer Brett Hankison was charged with three counts of wanton endangerment

First 8 months of fatal overdoses in B.C. have now exceeded 2019 death toll

Nine people died every two days in August, BC Coroners Service data shows

Most Read