Description: It’s been a tough month for Canada’s small businesses. A significant part of Canada’s economic engine, many small businesses across the country have laid off staff as COVID-19 threatens to close their doors permanently. To avoid this, Ottawa has announced a ?wage subsidy program for companies, charities and non-profits to help cover three-quarters of employees’ salaries for businesses that have seen their revenue drop by at least 30 per cent due to COVID-19 as well as a $40,000 interest-free loan where $10,000 can be forgiven if certain conditions are met.

Source: BNNBloomberg.com – video report

Date: Apr 03, 2020

Link: https://www.bnnbloomberg.ca/cash-crunch-and-layoffs-inside-small-businesses-fight-for-survival-1.1417234

Questions for discussion:

• Summarize the financial situations facing businesses and the relief offered by the government.
• How are these relief programs being received?
• What do business owners want to see from government?
• How bad do you think the outcome for business will be, in six months from now?