Just over a half of Canadian companies can survive past October
TORONTO, May 07, 2020 (GLOBE NEWSWIRE) — As various levels of government across Canada begin to gradually ease restrictions, many businesses have a short leash. Per the Globe and Mail’s coverage of these findings (https://www.theglobeandmail.com/business/article-we-dont-need-evidence-of-jobs-already-lost-but-information-on-how/), the survey helps to answer “the most fundamental economic question arising from this crisis: Will your business survive this shutdown?”
1 in 5 companies cannot survive past 3 months, while another 25% say they can’t make it past six months of continued restrictionsThe latest survey from the Modus Business Monitor of over 950 Canadian managers and executives (April 20 to 30) reveals many to be in dire circumstances.Just one-third of Canadian companies can survive more than a year under current restrictionsAlmost half (46%) have either closed shop already or cannot make it past six monthsIt is important to note that this question was asked after a series of in-depth questions about all the federal government’s assistance programs. In other words, government assistance is baked into these projections.
About the Modus Business MonitorThe Modus Business Monitor is Canada’s only B2B omnibus service. For reliable and accurate results without the cost of a custom business survey, the Monitor offers our clients the flexibility they need. Results from the Monitor are based on a scientific sample of Canadian business leaders rather than the common and unrepresentative business surveys circulating today that rely on members of lobby groups or ‘crowdsourcing’ from the likes of the Twitterati.About Modus ResearchEstablished in 2012, Modus Research is a full-service research agency that provides clients with actionable feedback from Canadian enterprises based on scientifically representative samples. We offer our clients exclusive access to the Modus Business Panel – the gold standard of B2B research in Canada.A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7efd14cb-6bc8-4295-9243-7676317b0b36.For more information on this release or the Modus Business Monitor please contact: Charlie Graves
President, Modus Research
Phone: 1-800-254-6944 x224
Email: cgraves at modusresearch dot com