Small businesses are Canada’s job creation engine, accounting for more than 80% of new jobs in this country. Collectively, they are responsible for roughly half of our GDP growth. When they are healthy and strong, the country is growing, and when they catch cold, Canada is laid up.
These are the symptoms of financial long COVID that businesses are facing, and just like its medical counterpart, there is no short-term answer or looming relief. According to a recent Canadian Survey on Business Conditions, many small businesses believe these issues will continue for the foreseeable future.
Layered on top of these underlying conditions are direct impacts from COVID: record amounts of national debt, record inflation, sick Canadians unable to go into work, and in some cases, ongoing public health restrictions. Taken all together, it’s a bizarre economic environment that does not support real growth, competitiveness, or investment.
The second part of helping businesses recover is building a strong labour force that works for the Canadian economy. This has to include elements such as reskilling and upskilling, but can also include more immediate solutions like a streamlined temporary foreign workers program, a decrease in our refugee and immigration processing times and making it easier for internationally trained professionals to have their credentials recognized in Canada.
I had covid and am actually struggling to catch my breath, its frightening, i understand their struggle but this is insensitive