COVID RESTRICTIONS PUT THE BOOTS TO FAMILY BUSINESSES

  New figures by the Department of Industry reveal that family-owned businesses were especially hurt by government Covid restrictions and closures.
   According to Blacklock’s Reporter, the number of businesses owned by couples or family members fell by 14% in 2021. Data was reported by the department in the SME Profile: Ownership Demographic Statistics document.
   Before the pandemic 62% of all small and medium businesses in Canada were family-owned but by 2021 that figure crashed down to 48%.