The pandemic pain may be over for many, but small business owners saddled with debt are still hurting.
Revenue is lower than pre-pandemic. And now, government relief loans issued during lockdown are coming due.“The pandemic has destroyed my business, and my life,” he said.
“We’re at a point now where the debts are coming due, and the money is just not coming in the way it did pre-pandemic. Yet, they expect those things to be paid off quickly, and it’s just not a possibility - we’re going to see a lot of businesses close this year,” he said. He’s not the only one in this situation. OCOBIA, the Ottawa Coalition Of Business Improvement Areas conducted a survey of small businesses that sheds light on how small businesses are faring.
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