Lori Sterling comments in Reuters on Canadian businesses affected by the pandemic and the government aid made available to them.
Lori spoke about how the number of insolvencies fell by approximately 37 percent during the pandemic. There had been an increase in March 2021 but the rate fell subsequently. Some small businesses had expressed concerns that bankruptcies would begin to rise dramatically, but Lori said it appeared to be too early to announce an extension of small business government supports. If there was a need to enhance government relief at this point in time, it would be preferable to look at the steps in the tapering of the relief programs rather than an extension.
The full story can be found on the Reuters website.