Canadian golf lovers and golf course owners breathed a collective sigh of relief when the sport was provided with reopening status relatively early in the easing of lockdown measures across the country. And while the disruption of business has been minimal compared to the economic crisis seen in other industries like hospitality and retail, ...
In mid-March, following the World Health Organization’s official declaration of the COVID-19 pandemic, travel screeched to a halt. Consumers scrambled to cancel flights, and the accommodations they had booked fell through the cracks alongside them. With the order to “shelter at home” and the closure of Canada’s borders, domestic travellers and tourists from abroad ...
At the outset of 2020, the retail industry was expected to see a 5% rise in sales. Canada’s unemployment rate was at a 45-year low of 5.7%, and consumer spending was looking promising, with a 1.4% year-over-year gain following the holidays. I’m sure you can see where we’re headed. As soon as the COVID-19 ...
After several months of shutdown, the North American automotive industry has announced their intention to restart manufacturing near the end of May. General Motors and FCA announced that May 18, 2020 will be the restart manufacturing date – Ford plans to follow suit. Canadian plants have announced similar plans. While Mexico is somewhat unclear ...
Recent analysis from the Royal Bank of Canada (“RBC”) indicates the Canadian economy shrank by 10% annualized in the first quarter of this year due to COVID-19. With a significant increase of Canada’s unemployment rate to 7.8% in March – double the largest one month increase on record – the unemployment rate is expected ...
Recent economic challenges associated with the COVID-19 pandemic have reversed course in a dramatic fashion for many businesses, with little opportunity to plan for the downturn. If your business is experiencing trouble, you’re not alone. Across Canada, middle-market businesses are seeking solutions to return to profitability. Though the exact strategy will differ for each ...