We wanted to take a quick moment to reach out to all businesses, entrepreneurs & self-employed individuals.
We ourselves are a local, family-run business, and we know the toll this has taken on businesses around the North Shore. We are here to support all of our clients, and are having many conversations about how they can succeed during these very uncertain times.
A survey was done last week of over 1,200 business leaders in BC, asking a variety of questions regarding the state of their business & their outlook for the coming months.
- 43% surveyed said they would probably be able to only last up to 3 months under the current restrictions.
- For businesses temporarily closed, only about 53% predict they will be able to reopen and another 38% said they were unsure. 8% have already decided they will NOT reopen.
- The top operating expense from businesses, according to those surveyed, was wages at 64%. Followed by rent at 54%, then taxes at 34%, and goods & supplies 32%.
These survey results are disheartening. As business owners ourselves, we know the sacrifices businesses are taking right now to stay afloat and adapt to all the changes.
If YOUR business needs advice or help in these trying times, please contact us. Our professional accountants are experienced and knowledgeable on how best to support your business. Our goal is to see you and your business make it through this, and find success even during times of uncertainty.
Cahill CPA partners & team
For the complete survey, check out:
Covid Impact Survey on Local Businesses
