BEFORE CHRIST. companies “in need of life-saving care” because of the fallout from coronavirus


The economic impact of the COVID-19 pandemic continues to devastate businesses in British Columbia.

A recent survey found that in the past two weeks alone, about half of the 1,900 employers surveyed saw their incomes fall by 75% or more, while two-thirds experienced declines of 50% or more.

“There is no doubt that governments want to find the right solution for business, but our members say” time is running out, “said Val Litwin, CEO of the BC Chamber of Commerce, who, along with the BC Business Council and The Greater Vancouver Board of Trade has commissioned what has to be a biweekly series of business pulse checks.

COVID-19 epidemic shakes global economy

COVID-19 epidemic shakes global economy

According to a survey, almost a third of companies plan to cancel contracts or have had their contracts or tenders canceled.

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Among the companies which lay off, the employers release on average 43 employees each one.

Economic impact of federal aid COVID-19

Economic impact of federal aid COVID-19

“Each passing day is a critical time for many employers as they make difficult decisions and wait for government to arrive,” said Bridgitte Anderson, CEO of the Greater Vancouver Board of Trade.

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“We need a bridge to the other side of this crisis which will help accelerate economic recovery when the public health emergency subsides.”

More than 50% of those surveyed said they feared that they would not be able to pay off their debts or that they would not be able to restart financially once the pandemic ended.

121K B.C. hotel workers unemployed, 28% of restaurants risk bankruptcy: survey

About a quarter of those surveyed said they are considering moving to online, digital or e-commerce options, or have already moved.

In publishing the results of the survey, business advocacy groups have listed their main recommendations to the government, including making direct payments to the companies involved; an immediate reduction in the rates of employment insurance, corporate taxes, personal tax, GST and other levies or charges imposed by the government; and a further reduction in tax rates and deferred payments for the two provinces of British Columbia. businesses and homes.

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