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

(Photo: Twitter@SurreyRCMP)
Surrey Mounties, pet owners, bracing for Halloween

Last year the Surrey RCMP received 147 fireworks complaints on Diwali and 121 on Halloween

White Rock RCMP are searching for Richard John Lewis, who is wanted on warrants for assault and uttering threats. (RCMP handout)
White Rock RCMP searching for wanted man

Richard John Lewis is wanted on warrants for assault, uttering threats

partial graphic used in "Get Serious" campaign by Surrey business groups.
‘Get Serious’ message about COVID pushed by Surrey business groups fearing ‘economic shutdown’

‘Different social media messages will be sent out daily with significant messaging…’

Provincial health officer Dr. Bonnie Henry updates the COVID-19 situation, B.C. legislature, Oct. 26, 2020. (B.C. government)
B.C.’s COVID-19 case count jumps by 287, another senior home outbreak

Two more deaths recorded, community outbreak in Okanagan

An untitled Emily Carr painting of Finlayson Point was donated to the Art Gallery of Greater Victoria by brothers Ian and Andrew Burchett. The painting had been in their family for several decades. (Courtesy of the Art Gallery of Greater Victoria)
Never before seen painting by famed B.C. artist Emily Carr gifted to Victoria gallery

Painting among several donated to Art Gallery of Greater Victoria

The B.C. Centre for Disease control is telling people to keep an eye out for the poisonous death cap mushroom, which thrives in fall weather conditions. (Paul Kroeger/BCCDC)
Highly poisonous death cap mushroom discovered in Comox

This marks first discovery on Vancouver Island outside Greater Victoria area

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

100 Mile Conservation officer Joel Kline gingerly holds an injured but very much alive bald eagle after extracting him from a motorist’s minivan. (Photo submitted)
Rescued bald eagle that came to life in B.C. man’s car had lead poisoning

Bird is on medication and recovering in rehab centre

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Janet Austin, lieutenant governor of B.C., was presented with the first poppy of the Royal Canadian Legion’s 2020 Poppy Campaign on Wednesday. (Kendra Crighton/News Staff)
PHOTOS: B.C. Lieutenant Governor receives first poppy to kick off 2020 campaign

Janet Austin ‘honour and a privileged’ to receive the poppy

Premier-elect John Horgan and cabinet ministers are sworn in for the first time at Government House in Victoria, July 18, 2017. (Arnold Lim/Black Press)
Pandemic payments have to wait for B.C. vote count, swearing-in

Small businesses advised to apply even if they don’t qualify

The B.C. Teacher Regulation Branch has issued a decision about the actions of an elementary school teacher in Langley. (Langley Advance Times files)
Langley elementary teacher suspended for grabbing, shoving, yelling at kids

Roxann Rojas will lose her legal authority to teach for two weeks from Oct. 25 to Nov. 7, 2020

Most Read