Economics
Reopening Is No Quick Fix for Canadian Companies Hammered by Virus
- Government aid has helped, but owners worry about debt, taxes
- With rising unemployment, consumer demand is a question mark
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The initial shock of the coronavirus shutdown has eased. Now comes an equally hard part for thousands of business owners: figuring out their next move as Canada crawls toward reopening its economy.
More than 76,000 companies applied for the Trudeau government’s 75% wage subsidy in three days, accessing a program that has promised more than C$70 billion ($50 billion) in aid. Businesses have received billions in interest-free loans backed by the government, and some will get help paying their rent.