Diego J. Cardenas

Diego J. Cardenas

Real Estate Sales Representative

RE/MAX PREMIER INC. Brokerage*

Mobile:
647-207-4190
Office:
416-987-8000
Email Me
Diego J. Cardenas

Diego J. Cardenas

Real Estate Sales Representative

RE/MAX PREMIER INC. Brokerage*

Mobile:
647-207-4190
Office:
416-987-8000
Email Me

BIg impact for Small Businesses caused by COVID-19

Federal government is looking for ways to deliver rent relief for small businesses.

 

April 20, 2020

TORONTO, April 20, 2020 /CNW/ - Small businesses strongly support (93 per cent) the federal government's announcement that it intends to work with provinces to help with rent, finds a new survey taken over the weekend by the Canadian Federation of Independent Business (CFIB). Rent relief is urgently needed as only one in five businesses is fully open and revenue declines are dramatic for nearly all small firms. Over half of small businesses say they will not be able to pay May rent without assistance (up from a quarter that were worried about paying April rent) and many remain concerned about permanent closures.

"Last week the federal government announced a new rent program, I know many business owners are anxiously waiting for the details as the stress of having bills mount with no revenue is getting more intense," said Laura Jones, CFIB's executive vice-president.

Key survey results include:

  • 92 per cent think provincial governments should provide protection to commercial tenants to prevent evictions during the COVID-19 emergency
  • 91 per cent agree that for rent assistance to be meaningful, it needs to be grants or rent forgiveness, not just loans/deferrals
  • 75 per cent believe the cost of commercial rent that cannot be paid due to COVID-19 revenue losses should be shared between governments, landlords and tenants, with 19 per cent disagreeing
  • Over half (58 per cent) will not be able to pay May rent in full without further assistance (up from 25 per cent for April), compared to 37 per cent who say they can pay, while the rest don't know
  • 54 per cent trust their landlord to be reasonable, 33 per cent do not

"At this point, deferring rent isn't going to cut it, businesses desperately need rent forgiveness to help pay bills. Provincial governments have ordered many small businesses to close but very few have taken any steps to help owners with the costs of paying rent on a location they cannot open," Jones said.

CFIB is calling for these costs to be shared by governments, landlords and tenants. CFIB also continues to call on provinces to protect commercial tenants, otherwise in good standing, from being evicted due to COVID-19.

"April 1 was scary, and it's important to get the right government relief in place fast to prevent May 1 from being a nightmare on Main Street," concluded Jones.

Methodology

Results are based on 6,881 responses from CFIB members, to a controlled-access web survey. Data reflect responses received between April 17 and 19, 2020. For comparison purposes, a probability sample with the same number of respondents would have a margin of error for national results of +/-1.2%, 19 times out of 20.

About CFIB
The Canadian Federation of Independent Business (CFIB) is Canada's largest association of small and medium-sized businesses with 110,000 members across every industry and region. CFIB is dedicated to increasing business owners' chances of success by driving policy change at all levels of government, providing expert advice and tools, and negotiating exclusive savings. Learn more at cfib.ca.

CISION NEWS/SOURCE Canadian Federation of Independent Business

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647-207-4190

  

416-987-8000

  

About Me

 I would like to take this opportunity to tell you a little bit about my life as a REALTOR and the ambition l have to help families to reach their goals in the community. l have prided myself in my passionate, energetic and heartfelt drive to serve my clients’ best interests. Dedicated to listening attentively and matching individuals and families with the properties that best suit their needs. Specialized in home buying and selling, investment properties, luxury homes, and multi-residential properties. Now as part of the Big RE/MAX Community, we have built a reputation for our refreshingly friendly customer care and proven ability to guide buyers to obtain the best value for their home and to assist sellers to a smooth, stress-free sale of their properties. Our business today is built on: Dedication, Communication, Determination, & Trust while embodying the ability to cater and adapt to all of our client’s Real Estate needs. Our strong background in digital marketing and Graphic Design brings a strategic yet personable approach to the home buying and home selling process. With many years involved in Real Estate, we fully understand of the diverse needs of families and what it is like to stand in our clients’ shoes. Relocating several times – buying and selling houses of our own – has provided us a sensitivity towards our clients’ and families in the community. Rest assured that we will continue to be dedicated, knowledgeable, and committed to finding the perfect fit, whether apartment or home, for our clientele and for you. We will regularly seek to stay ahead of the game when it comes to market education and trends to be able to provide you the best solution available.



Languages Spoken: English, Spanish