Locally owned and operated businesses are the social, cultural and economic heart of a community. Unfortunately, this past year has left many unsure if they can continue. In this weeklong series, we look at the vital role local businesses play in our communities, the financial pressure they are under due to COVID-19 and what we can do to help them survive.
Despite the impact of COVID-19 on York Region’s businesses, hope persists.
But first, let’s examine the damage done.
In terms of COVID’s impact on small businesses, “no industry has been spared”, says Jonathan Wheatle, director of economic strategy at York Region.
In May 2020, York Region initiated a survey to determine the impact COVID-19 had on the business community (Business Impact and Recovery Survey). It revealed that 70 per cent of surveyed businesses reported a loss of revenue and 65 per cent reported a reduction in customers.
Full Article: yorkregion.com