• Asian Connection
    Asian Connection
* India behind China & Pakistan in nuclear-warheads but not worried    * Yogi Adityanath Cites Lord Ram, Slams Rahul Gandhi Over Ghaziabad Attack    * Russian mercenaries implicated in the torture and killing of civilians in Central African Republic    * Black Grande Prairie doctor testifies he felt threatened by noose tied by white colleague    * Woman who insisted sister-in-law was murdered in burning trailer shot dead at same site

Lockdowns come at a price, and doesn’t stop at lost business and employment

Posted in Featured, View Point

Published on May 25, 2021 with No Comments

Looking after the health and well-being of all Canadians has been a prime concern for the various governments and specially as the Covid 19 spread its tentacles around Canada.  Health Canada was called to minimize the spread and various health care workers have been working tirelessly. Hats off to the health-care heroes who have done so much this past year.

With one year into the pandemic, that a lot of what has been done to help protect Canadian from the virus also has harmed them in some ways. The report has been released by Statistics Canada and that means a lot. Statistics Canada has reported on the various harms Canadians have endured, both from the virus itself and from the lockdowns and restrictions imposed to keep COVID from spreading. The report highlights that some groups of people have been more vulnerable to the virus and more likely to have serious outcomes. The report mentions that regions that counted a larger percentage of Afro American Canadians among their population had higher mortality rates for COVID. The report also explores how Canada’s first peoples have been more vulnerable to the virus and also have suffered other poor health outcomes, such as increased mental health challenges.

The report by Statistics Canada also looks at the woes that the Canadians had to undergo due to lockdown.   The agency found postponing cancer screenings likely has caused many cancers to go undetected, leading to the premature death of hundreds of Canadians. Also, calls to police concerning mental health have jumped significantly during lockdowns. But also that people reported improved mental health when restrictions eased, like how young people felt better when schools reopened. Hence, lockdowns — while used to fight the virus with the greater good in mind — come at a price, and the cost doesn’t stop at lost business and employment.

 As businesses adapted to the pandemic by moving sales online, this was more likely occur in the service industries, where the proportion of businesses owned by women is higher. Over one-quarter (26.4%) of businesses majority-owned by women reported at least some of their sales in 2020 were made online, a 6.6% increase from 2019, compared with under one-quarter (22.0%) of all private sector businesses, at a 4.6% increase from 2019.

Businesses majority-owned by women (33.3%) were as likely as all private sector businesses (31.5%) to report being able to operate for 12 months or more at their current level of revenue and expenditures before considering laying off staff.  Additionally, businesses majority-owned by women (39.5%) were as likely as all private sector businesses (37.7%) to report being able to operate for 12 months or more at their current level of revenue and expenditures before considering closure or bankruptcy.

The report also highlights that bringing newcomers to Canada remains a priority to drive economic growth and recovery in alignment with the 2021-2023 Immigration Levels Plan.  However, businesses majority-owned by immigrants in Canada are expected to face a more difficult business environment the short term compared to all private sector businesses. These businesses expect to see a drop in sales (43.3%), profitability (56.2%), and demand (37.6%), compared with all private sector businesses expecting to see a drop in sales (31.4%), profitability (43.0%), and demand (25.3%).

At the same time, Nearly one-quarter (22.7%) of businesses majority-owned by immigrants to Canada reported they could operate for 12 months or more at their current level of revenue before considering laying off staff. Conversely, nearly one-third (31.5%) of private sector businesses reported that they would be able to operate for 12 months or more at their current level of revenue and expenditures before having to consider laying off staff. Businesses majority-owned by immigrants to Canada (41.8%) were as likely as all private sector businesses (39.0%) to be unable to take on more debt. Nearly two-thirds (62.8%) of businesses majority-owned by immigrants to Canada were approved for the CEBA, while over half (56.9%) of all private sector businesses reported the same. Businesses majority-owned by immigrants to Canada (33.6%) were just as likely to be approved for the CEWS as all private sector businesses (34.5%).

With governments now planning for another lockdown, Canadians may have tough time ahead.

 

No Comments

Comments for Lockdowns come at a price, and doesn’t stop at lost business and employment are now closed.