In Timmins, 63 per cent of small and medium-sized businesses that took part in a recent survey are reporting a reduction in operations since mid-March, according to the Timmins Chamber of Commerce.
That snapshot is based on the responses from 74 people who answered questions about how emergency measures have impacted their business between March 20 and April 13.
The largest number of participants hail from the retail (15 per cent), health and wellness (12 per cent), and non-profit (11 per cent) sectors.
Of the respondents, 36 per cent said they had either furloughed, laid off, or significantly reduced employee hours. That represents roughly 850 people in Timmins’ labour force.
“We know the COVID-19 pandemic constitutes an unprecedented challenge for our local business community with very severe socioeconomic consequences,” Chamber president Val Venneri said in a news release.
“Since the beginning of the emergency declaration, the Chamber has been in contact with representatives from all levels of government, advocating for support that will help mitigate the damage being done to the regional economy.”
According to the report, entrepreneurs want four things to make this time easier:
• tax and levy, deferrals;
• clear, concise, and timely information;
• access to cash flow; and
• funding provided broadly and expeditiously.
“It is important that survey respondents see timely action and tangible outcomes from their feedback,” Veneri added. “Knowing their pain points informs our decisions going forward and it is critical that they continue engaging as the emergency declaration weighs on.”
The Chamber said it is partnering with the city on a second survey to further gauge the effects of the pandemic on local businesses, and is encouraging entrepreneurs leaders to participate.
Access the full report here.
