Sunday, December 11, 2022
HomeWealth ManagementMany Canadian companies face pandemic debt reimbursement problem

Many Canadian companies face pandemic debt reimbursement problem


Companies in agriculture, forestry, fishing, and looking (42.0%), administrative and help providers (38.0%), and the hospitality and meals providers sector (54.4%) had been considerably extra prone to report that it could be troublesome to repay funding acquired from authorities help packages over the subsequent 12 months.

Moreover, smaller corporations had been extra prone to report an issue with repaying authorities help.

Greater than a 3rd (36.1%) of corporations with 5 to 19 employees, 3 in 10 (29.7%) with 1 to 4 staff, and greater than a fifth (22.2%) of corporations with 20 to 99 staff stated it could be troublesome to return any authorities help they obtained.

In distinction, 5.7% of corporations with 100 or extra staff, predicted the identical difficulties.

Seventy-three % (77.3%) of corporations stated they’ve the money or liquid property essential to function for the upcoming three months, whereas 10.7% didn’t and 11.9% had been not sure.

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