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Low profits, few customers in post-pandemic recovery says B.C. business survey
BY , May 22, 2020 7:27 PM - REPORT AN ERROR
Chairs are turned upside down on the bar at a closed restaurant, amid concerns about the spread of the coronavirus, in Vancouver, on Tuesday, March 17, 2020. As some British Columbia businesses prepare to reopen their doors on Tuesday when the province enters the second phase of its COVID-19 restart plan, others say they're holding off while they grapple with new health protocols. THE CANADIAN PRESS/Darryl Dyck
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.
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