I’ve always said, people are at the heart of the CRE industry. And people who run businesses help to drive our economy.
**According to a Stats Canada report, there were 770,128 active businesses in Canada before the COVID-19 lockdowns and restrictions started in March 2020.
**Since September 2020, that number dropped to 741,139 active businesses across Canada. Since then:
** Ontario has seen an 8.3% drop in active businesses since the pandemic began.
** An estimated 32,830 Ontario businesses have closed since September 2020 (mostly restaurant & retail suffered in late Fall and since Boxing Day).
** A total of 46,517 businesses opened in the same month
** Business closures hit new lows in manufacturing, retail trade & arts, entertainment & recreation.
The Ontario Government released a Roadmap to Reopen 3-step plan to “safely and gradually lift public health measures based on ongoing progress of provincewide vaccination rates and improvements of key public health and health care indicators.” People and industries are waiting…patiently.