Impact of COVID-19 on businesses majority-owned by visible minorities, third quarter of 2020

Different communities in Canada have been impacted in various ways by the COVID-19 pandemic. Using the data from the Canadian Survey on Business Conditions, a comparison was made to assess the impact of COVID-19 on businesses majority-owned by visible minorities. Differences were noted in certain areas: these businesses were more likely to experience a decrease in revenue, have less liquidity, be unable to take on more debt, and be approved for funding or credit. This article further explores the impacts these businesses are experiencing during these unprecedented times.