The Saskatchewan Chamber of Commerce and its partners say the results of a survey of over one thousand business responses on the unfolding COVID-19 crisis are stark but also hold some promise.

CEO Steve McLellan says, “The best analogy is that we have suffered an economic gash that needs immediate attention and will take time to heal.” 85 per cent of respondents have felt a negative impact already and 87 per cent believe the challenges will continue for two months or more. The greatest impacts are on reduced revenues, staff layoffs or workers off due to isolation protocols, under-utilized labour while still at work, and the cancellation of important work-related travel events.42 per cent of respondents believe they will see as much as a 50 per cent drop in revenue. Layoffs are expected to increase.

McLellan says they were heartened that almost half of the respondents had a plan in place to help mitigate the challenges.” He says they have also seen many creative and impactful actions by businesses to show support for the health of employees and the public, and for Canada’s collective effort.