The number of family-run small businesses across Canada plummeted from levels prior to COVID-19 lockdowns in early 2020, a report from the federal Department of Industry shows.
“Since the last iteration of this survey in 2017 there has been a substantial decline in the percentage of small and medium-sized enterprises owned by members of the same family,” said the report, according to Blacklock’s Reporter.
Titled “SME Profile: Ownership Demographic Statistics,” the report shows that, since the first lockdown in March 2020, Canada has lost 62 percent of its small businesses owned and operated by married couples or individuals belonging to the same family. This is an increase of 14 percent from last year….