Half Of N.S. Business Owners Worried About Paying Their Bills, Says CFIB
HALIFAX – Even though Nova Scotia’s economy is gradually reopening in phases, it is happening too slow for many struggling businesses, according to the latest data from the Canadian Federation of Independent Business.
According to the June CFIB survey, 32 per cent of Nova Scotia businesses believe the reopening is happening too slow. Most concerningly, nearly half (49 per cent) are worried about having to pay their bills.
Nova Scotia is currently in phase two of the five-step reopening plan. During this phase, restaurants and bars can have sit-in patrons with six feet of social distance space between people at different tables.
Retail outlets can operate at 50 per cent capacity. Phase three, which begins June 30, will allow retail businesses to operate at 75 per cent capacity, and services such as salons and tattoo parlors can reopen fully.
“With so many businesses not fully open because of the continuing health restrictions, it’s no wonder almost half of our members (49 per cent) are concerned about their ability to pay their bills,” said Louis-Philippe Gauthier, CFIB Senior Director of Legislative Affairs in Atlantic Louis-Philippe Gauthier, in a press release. “The slow pace of reopening is extremely frustrating for many business owners.”
After three lockdowns and more than a year of dealing with the Covid-19 pandemic, it’s no surprise that businesses in the province are struggling. The CFIB survey suggests that 80 per cent of Nova Scotia businesses are bringing in less money compared to pre-pandemic levels. On top of that, only half of all businesses are open fulltime.
The CFIB is calling on the provincial government to shorten the time gap between each phase of reopening and to have a clearly communicated plan to reopen the borders to travelers across Canada.
“As it stands Nova Scotia’s reopening plan is incomplete,” said CFIB president Dan Kelly. “With 49 per cent of our members saying they are concerned about getting clear government information on the rules, knowing how and when the self-isolation provisions for travelers from the rest of Canada will be lifted is key for many operators.”
The CFIB have been outspoken critics of governments’ support for businesses across Canada. Earlier in the lockdown, Philippe Gauthier said that New Brunswick and Nova Scotia have not given enough grant money to support struggling businesses, and the scope of the programs have, at times, been too narrow.
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