COVID-19 knocks down number of Canadian businesses, impact of raging second wave could be worse

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      A government report counts 741,139 active businesses across Canada in September 2020.

      The number represents a 7.2 percent decline compared to the 798,440 businesses operating in February.

      The COVID-19 lockdowns and restrictions started in March, and at the time, there were 770,128 active businesses.

      Statistics Canada released the report, noting that “public health measures had been substantially eased throughout the country” in September.

      However, Statistics Canada also pointed out that “additional public health measures were implemented in October and November to address the resurgence of the COVID-19 virus”.

      This could mean more bad news for businesses.

      The second wave of the coronavirus was detected in October.

      Moreover, a new strain that was first reported out of the U.K. has started to emerge in Canada.

      Statistics Canada said that the series for October and November on the situation of businesses will be released in January and February 2021.

      The September 2020 number of 741,139 businesses in operation is the highest in the last six months starting from April.

      In its report, the agency stated that 32,830 businesses closed in September 2020.

      But the month wasn’t all bad news.

      In September, a total of 46,517 businesses opened.

      Statistics Canada noted that the number of active businesses in arts, entertainment and recreation was “furthest from recovery in September”.

      These businesses were down 12.8 percent or 1,855 businesses since February.

      The tourism sector was “second furthest”. It declined by 11.9 percent or 9,313 businesses.

      Moreover, the majority or 65 percent of the decline in the tourism sector happened in food and beverage services.