SMEs should be front and centre in economic recovery
St. John’s, May 1, 2020 – The Canadian Federation of Independent Business (CFIB) is pleased with the release of the provincial government’s plan on re-opening the economy during the COVID-19 pandemic. The plan is a measured, responsible approach that gives business owners the time to prepare their businesses. One of the key aspects of running a business in Newfoundland and Labrador for the next number of months is ensuring employees and customers feel safe.
“Earlier this week, CFIB asked for a plan from the provincial government outlining how businesses would operate in a new environment where COVID-19 is always present,” said Vaughn Hammond, CFIB’s director of provincial affairs in Newfoundland and Labrador. “With the release of the government’s re-opening plan, business owners can now prepare to comply with the public health measures, while ensuring they have the necessary product and staff.”
In a recent survey, nearly 40 per cent of business owners in the province stated they are unsure their businesses will survive if the current restrictions continue until the end of May, while 58 per cent said they will definitely survive. With the release of the phased approach to re-opening the economy, small business owners can now assess what their futures will look like. Some will try to figure out what they need to do to be ready to best serve their customers in the safest possible manner and others will determine to close the business’s doors for good.
The approach announced by the Chief Medical Officer of Health outlines the criteria by which she will be making her decisions. An important part of the implementation of the re-opening plan will be clear communication on the state of COVID-19 in the province. The last thing business owners want is to get their businesses at an acceptable level and then suddenly be shut down or pared back again.
“Businesses will have to adapt to the phased-in approach, but we cannot lose sight of the need for ongoing provincial government support, financial or otherwise,” added Hammond. “As the economic recovery during the pandemic gets underway, the needs of small- and medium-sized businesses, who have collectively been hit the hardest by this pandemic, should be front and centre.”
For media enquiries or interviews, please contact:
Vaughn Hammond, Director of Provincial Affairs, CFIB
The Canadian Federation of Independent Business (CFIB) is Canada’s largest association of small and medium-sized businesses with 110,000 members across every sector and region, including 2,000 in Newfoundland and Labrador. CFIB is dedicated to increasing business owners’ chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.