The COVID-19 pandemic totally disrupted our lives and, by extension, the world of business. A new study, "Use of Government COVID-19 Liquidity Support Programs by Immigrant-owned Businesses and Those Owned by Canadian-born Individuals," found that immigrant-owned businesses were more likely to be affected by the pandemic and the associated lockdowns. This is because these businesses tended to be smaller and concentrated in industries where in-person contact was required, such as a restaurant or a small shop. Further, they used more government support on average than businesses owned by Canadian-born individuals after controlling for their characteristics.
Shortly after the onset of the pandemic and the associated economic and social lockdowns in March 2020, government assistance programs were offered to individual Canadians and businesses to help alleviate the effects of the economic disruption. Businesses could apply for an emergency wage subsidy, rent assistance or a rent subsidy, or a loan of up to $40,000 through the Canada Emergency Business Account (CEBA).
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