The pandemic is wreaking havoc in the business community and the rise of the Omicron variant as well as the new measures announced could well deal the fatal blow to many Quebec entrepreneurs.
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In an interview with the program “À votre affaires, the Minister of the Economy, Pierre Fitzgibbon, insisted that his government was monitoring the financial situation of companies very closely.
“We are very sensitive to the fact that we are asking for an additional burden on all traders who must reduce their activities,” said the Minister.
Pierre Fitzgibbon refuses for the moment to transform certain aid programs in order to avoid entrepreneurs having to go into debt.
He mentions that so far, approximately 12,500 Quebec businesses have borrowed $ 425 million from the government. Of that amount, almost half ($ 210 million) was “forgiven” and therefore became grants.
“The programs exist, they will continue and we will act if necessary”, proclaims the Minister of the Economy.
A resilient business environment
In addition, Pierre Fitzgibbon believes that Quebec companies are surviving rather well the health crisis and its financial repercussions.
“In Quebec, the rate of business closures since April 2020, when compared to the one before that period, is 32% lower,” said Mr. Fitzgibbon.
“The GDP is now higher than it was before the pandemic,” he adds.
The latter nevertheless admits that certain sectors remain seriously affected.
Moreover, while many workers in the restaurant industry find themselves unemployed a few days before Christmas, Minister Fitzgibbon assures us that he is monitoring the situation closely.
“We will be careful. If additional programs have to be done, we will do them “
To see the full interview, watch the video above.