Small businesses won't survive second lockdown, warns CFIB

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The Canadian Federation of Independent Business (CFIB) is warning the fragility of many small businesses will lead to their closure if there’s another lock down without the right financial help from government.

The CFIB said in a statement that as cities, provinces and the feds move towards new closures due to spiking cases of COVID-19, they need “to provide immediate and full financial support to affected businesses.”

The CFIB had earlier estimated 160,000 businesses in the country may permanently shut their doors due to COVID-19, but are now warning that total could soar to as many as 225,000.

“‘We are all in this together’ means that business owners should not be asked to cover the costs of protecting society through fresh lockdowns of the economy alone,” said CFIB president Dan Kelly in a statement.

“They need full, immediate and ongoing support in any jurisdiction where new restrictions are introduced.”