The second wave of the Canadian Survey on Business Conditions (CSBC), a joint effort with the Canadian Chamber of Commerce and Statistics Canada, was released July 14th, providing new insights into the longer-term impact of COVID-19 on Canadian businesses.
The second survey data shows businesses are adapting to a distinctly new, paradoxical phase of the pandemic, where businesses reopen because they can no longer afford to remain closed, but struggle to break even while paying for pre-COVID level costs with significantly reduced revenues.