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Small Business Debt: The COVID-19 Impact

Second Assessment - August 2021

Key Points

  • So far, the pandemic has taken its toll on 71% of Canadian small businesses that have taken on debt to cope with the impacts of COVID-19.
  • CFIB’s latest estimate for total Canadian small business debt related to COVID-19 sits at $139 billion, with 76% of businesses that took on debt saying it will take them longer than a year to repay.
  • Governments must enhance and continue business relief measures. Event with many restrictions lifted, thousands of businesses carry a big financial burden and are facing a difficult road to recovery.

 

Related Documents

Release Date Report Download
August 2021 Small Business Debt: The COVID-19 Impact,  Second Assessment

PDF (7.6 MB)

February 2021 Small business debt and profitability: The COVID-19 Impact

PDF (1.9 MB)

 

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