Essential business earns only 10-15% of income compared to pre-Covid – Government restrictions to blame
Pet retreats, they’re where you take your furry loved one when you have a hockey tournament, a vacation, a date with the slopes or for many other travel-related reasons – but what happens when the travel trickles to a halt? What happens when your business is deemed “essential” and you don’t qualify for any government handouts?
The bills remain the same – but the profits for many small businesses have dropped to mere fractions of what they were during “pre-pandemic” levels as a result of our Government’s Covid measures.
Dollarama is essential for low-income families and now they may not be able to afford to buy the products they need. Sites like Amazon charge an arm and a leg for the same products you buy from the dollar store.
According to the MNP Consumer Debt index – 54% of Canadians are within just $200 of financial insolvency. The blog from MNP says that “As pandemic-related government aid and loan deferral programs begin to wind down, the latest MNP Consumer Debt Index finds the number of Ontarians hovering close to financial insolvency has reached a five-year high.”
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