The recent and appreciated announcement to defer loan repayments for the Canada Emergency Business Account (CEBA) has pushed the ‘goalpost’ to 2023. Small businesses impacted by the pandemic are communicating to the Ontario Business Improvement Area Association (OBIAA) that the worst is yet to come.  Ontario’s Business Improvement Areas (BIAs) represents more than 100,000 business owners located in downtowns, main streets, neighbourhoods and business parks.

Many businesses are still struggling with operational challenges and an uncertain future. For most, sales have not returned to normal levels, and they continue to be hampered by debt, staffing shortages, soaring costs and inflationary pressures. As prices climb, Ontario’s consumers are spending less.

The Ontario Business Improvement Area Association (OBIAA) is therefore calling upon the Government of Canada to enact 100% CEBA loan forgiveness to ensure the survival of hundreds of thousands of main street businesses.

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