A new survey suggests more than half of Canadian businesses have seen their revenue decline by at least 20 per cent during the pandemic.
More than 12,600 businesses responded to the survey conducted by Statistics Canada and the Canadian Chamber of Commerce.
Nearly one-third of businesses reported their revenue dropped by 40 per cent or more, while 21 per cent reported a revenue drop of 20 to 40 per cent.
Two-in-five businesses which responded to the survey said they have laid off staff as a result of the COVID-19 pandemic.
Of those businesses, nearly half said they laid off 80 per cent or more of their workforce, with the hardest-hit sectors including accommodation, food services and retail.
But nearly one-quarter of businesses reported having made no staffing changes due to the pandemic.
The survey also found nearly three-quarters of businesses have been negatively affected by physical distancing measures.
But nearly two-thirds said they could re-open or return to normal operations within a month of those measures being removed.
