Impact of COVID-19 on businesses majority-owned by visible minorities in Canada, second quarter of 2021

The COVID-19 pandemic has impacted many different communities in Canada, including visible minorities. This article presents results from the Canadian Survey on Business Conditions which show that businesses majority-owned by visible minorities expect lower profits, and are more likely to expect to face obstacles obtaining financing. Their financial constraints do not differ greatly from all private sector businesses, and over one-tenth of businesses majority-owned by visible minorities can continue to operate for less than 12 months. This article further explores the obstacles these businesses expect to face and their expectations for the future.