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

“The Great Regional Air Hug” being organized by the Vanderhoof International Airshow Society

A multi-aircraft flyover over the region is being planned for August 15.

B.C. government eyes antlerless moose harvest increase in bid to save caribou

Antlerless moose hunts reduce predation for threatened mountain caribou, says ministry

Health and safety regulations to be followed by schools as they reopen Monday

Ministry of Education wrote a letter to parents dated May 28.

B.C. Court of Appeal upholds lower court decision on western boundary of Treaty 8

Several first nations believe the western boundary was and always has been at the Rocky Mountains

Illicit overdose deaths on the rise during COVID-19: Northern Health

March 2020 saw a 61 per cent increase in illicit overdose deaths province-wide compared to February

MAP: Dr. Henry reveals which B.C. regions have seen most COVID-19 cases

B.C. health officials release a first look at how the novel coronavirus has reached all corners of the province

No charges to be laid against 22 northern B.C. pipeline protesters

Twenty-two people were arrested in February, but Crown has decided not to pursue charges

‘I’m pissed, I’m outraged’: Federal minister calls out police violence against Indigenous people

Indigenous Minister Marc Miller spoke on recent incidents, including fatal shooting of a B.C. woman

Larva of voracious green crab discovered on North Coast

Public asked to retain the carcasses of these invasive species for DNA testing

Plan in place for BC Ferries to start increasing service levels

Ferry corporation reaches temporary service level agreement with province

Introducing the West Coast Traveller: A voyage of the mind

Top armchair travel content for Alaska, Yukon, BC, Alberta, Washington, Oregon and California!

B.C. starts to see employment return under COVID-19 rules

Jobless rate for young people still over 20% in May

Williams Lake RCMP capture fugitive walking along Highway 97 in city limits

Witness said they could hear police yelling for suspect to ‘get down’

Kelowna Mountie on desk duty following ‘aggressive’ arrest

The officer involved in an arrest that took place on May 30 in Kelowna has been placed on administrative duties

Most Read