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One in Seven Canadian Small Businesses Is Now at Risk of Closing

  • Mid-point of CFIB estimates is 14% of firms going under
  • Alberta is at highest risk, could lose one in five SMBs
A barber cuts a customer's hair in Ottawa on June 12.

A barber cuts a customer's hair in Ottawa on June 12.

Photographer: David Kawai/Bloomberg

Even as provinces move forward with phased reopening plans, 14% of Canadian small businesses are at risk of permanently closing, according to a new report.

About one in seven small- and medium-sized companies surveyed at the end of June by the Canadian Federation of Independent Business said they are at least somewhat considering bankruptcy or winding down operations as a result of Covid-19. That would represent about 158,000 businesses in addition to the ones that have already closed, CFIB said.