Half of the companies have reported declines in revenue of 20%

La moitié des entreprises accusent des baisses de revenus de 20%

Photo: Cecilia Fabiano Associated Press
A little over one in ten companies has decreased the salary of the staff and some of the treatments.

Nearly half of the québec companies have seen their revenue plunge by more than 20% due to the pandemic, and a little more than one in ten has reduced the salary of the staff and some of the treatments, reports a large survey released Wednesday by Statistics Canada and the Canadian Chamber of commerce.

Described by the Chamber as “a first comprehensive overview” of what the companies have done to adapt to the crisis or have not been able to implement, the survey identifies a series of behaviors and decisions due to the sanitary measures which, in many cases, have forced radical changes in the functioning of enterprises, not to say temporary closures.

The dashboard on the evolution of the coronavirus in Quebec, in Canada and in the world

Thus, while nearly half of quebec companies have made layoffs in the wake of the pandemic COVID-19. The survey also shows that 12 % of the companies have laid off 100 % of their workforce. A slight majority (52 %) have laid off less than 1 % of their employees, or none at all.

The survey, conducted from 3 to 24 April, has collected the responses of 12 600 companies, including 1991 in quebec, said the Chamber of commerce in Duty. “The information obtained allow to highlight the time remaining to the businesses before they are forced to stop their activities permanently. These information are essential to the government so that it can adapt its programmes “, said its chief operations officer, Jackie King. The chief statistician of Statistics Canada, Anil Anora, described the survey’s spouse, as an exercise in ” one of its kind “, the results presenting an accurate picture of the true impact ” of the crisis, which would guide the decisions of the authorities.

12%

It is the percentage of firms that have laid off 100 % of their workforce.

New products

It is not the only poll indicating the effect of the crisis on the financial health of companies. According to the canadian Federation of independent business, for example, about half of SMES in québec experienced a decline of more than 70 % of their income, according to a recent survey. But the survey released Wednesday provides a lighting environment that not only includes all sizes of companies, but which also reflects on the changes of production.

Thus, for Canada as a whole, 4 % of companies in the manufacturing sector have been able to transform their channels to make masks and protective equipment for eyes, highly coveted in the health sector and the enterprises considered essential, including grocery stores and certain manufacturing companies.

Statistics Canada and the Chamber of commerce have also attempted to assess the difficulty associated with the measures of distance. Thus, one-third of the canadian companies (29 % in Quebec) are able to continue partially or completely their activities for six months or more, but 18 % (20 % in Quebec) are unable to do so for a part of their activities or the whole.

In addition, a quebec-based company in four expects to be able to work from 16 to 60 days without any source of income from the 1st of February. However, a 5.6 % say that they can survive only 1 to 15 days, and 4.9 % say they simply can’t go a day without income. In addition, nearly 30 % of quebec companies have made a credit application to a financial institution, accepted in whole or in part, while 4 % have received a refusal. The majority of companies (57,8 %) has not made any request.

In terms of the turnover, 53.5% of canadian companies have suffered a drop of more than 20 %, compared to 47.8 % in Quebec. A little more than 6 % of québec companies, however, have seen their income jump by more than 10 %, a proportion that is observed in several provinces. At the canadian level, the income declines of more than 50 % are particularly devastating to the areas entertainment and restaurants.

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