A total of 17% of small business owners surveyed are preparing to close permanently under pressure of six-figure COVID debts, the Canadian Federation of Independent Business said yesterday.

Few will formally file for bankruptcy protection from creditors, analysts said.

Bureau Chief (Parliament Hill)

Matthew Horwood is the Parliamentary Bureau Chief of the Western Standard based in the Parliamentary Bureau. He has a degree in journalism from Carleton University and has been a reporter for the Hill Times and the Ottawa Business Journal.

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(12) comments

Leonidas

Destroying small business is right in line with the Marxist playbook. Independent business and the middle class have no place in the Marxist collective. How bad is it going to get? As unthinkable as it may seem now, people, right here, are going to resort to cannibalism.

Tatanka

The T-u-r-d and Klaus Schwab will be happy to see that happen

Weyland Yutani

Nearly one in four businesses would be close to 25%. The figure you provided was 17%, which means your headline should've been "nearly one in five".

Forgettable

Agreed

Jim Mason

"“I am not sure it will be a crisis but it’s very difficult to predict.”"

It's fairly easy to predict that it WILL be a crisis for all those that lose their businesses. No crisis though for the public health officials that caused the problem ... bonuses and raises instead ... nor for any other government employee. We definitely were not all in this together!

Mars Hill

Icke addresses this, nine min. clip - https://beforeitsnews.com/opinion-conservative/2022/08/situation-update-david-icke-watch-within-the-next-24-hrs-we-tried-warning-you-must-video-3638941.html

Left Coast

This is just the beginning folks . . . going to be a tough next year or more.

The Crime Minister has thrown around Billions . . . Billions for Ukraine, Billions for Gorebull Warming, the UN and of course the WEF buddies.

Canada had Negative GDP in 2019 . . . before Covid. Govt borrowing papered over the mess with Free Money. Nonsensical Lockdowns crippled small businesses while the Costcos, Safeways & Big Box stores were open for business.

Now just like Obama's ole Marxist Preacher used to say . . . "the Chickens are coming home to roost".

LJeromeS

frank jack: I think you are wrong. EVery time MCard goes down, it reinforces how one needs to keep some cash on hand, and how dependent we can be on our plastic cards.

Only Freedom Matters Now

CFIB did nothing to help small business. Their answer was to lobby for government handouts - never to stop the idiotic mandates.

Chamber of Commerces across the nation were AWAL - useless. I will never support either / any of these organizations again.

Mars Hill

you speak for many many people

Mars Hill

But but but it's good for big business, people still have to spend money for things they need, why we could even mandate small business have to close during the flu season for our health and safety.....me thinks they'll be plenty of high profile swingers out there.

Frank Jack

All part of the “Own Nothing And Be Happy Plan”. Soon only the big corporations that fall in lock step with all fascist government diktats will be the only means of any consumer commerce.

They will decide what you can buy, how much you can buy, when you can buy it, and only with your QR code and sufficient social credit score. This Black Mirror nightmare is far closer to being a reality than anyone thinks.

My money says a false flag cyberattack that takes down the grid and merchant POS terminals for several days is next. They then make digital ID mandatory for any consumer transaction in order to “keep us all safe” from those dangerous cybercriminals.

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