Canada: impact of COVID-19 on business revenue 2021

A study conducted in the first quarter of 2021 analyzed the impact of the coronavirus on Canadian businesses owned by specific populations. Among the different groups taken into account, companies owned by visible minorities recorded the highest losses in revenue during 2020. Specifically, 48.3 percent of these enterprises reported a 30 percent or more decline in revenue in 2020 compared with 2019. For companies owned by immigrants, the share amounted to 43 percent. By contrast, the highest percentages of businesses that reported an increase in revenue in 2020 were owned by women, and by First Nations, Métis or Inuit persons.

Business revenue from 2020 compared with 2019 among specific populations' ownership in Canada

Characteristic	Percentage of businesses that reported an increase in revenue	Percentage of businesses that reported no change in revenue	Percentage of businesses that reported a 1% to less than 30% decline in revenue	Percentage of businesses that reported a 30% or more decline in revenue	Not appliacable e.g., started operating after December 31st, 2019
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Release date

March 2021

More information

Region

Canada

Survey time period

January 11 to February 11, 2021

Special properties

representatives from businesses

Method of interview

Questionnaire

Supplementary notes

Online questionnaire.
Majority ownership is defined at 51% or more. Majority-ownership was reported for private sector businesses only. Adapted from Statistics Canada, Impact of COVID-19 on businesses majority-owned by specific populations, first quarter of 2021, page 8, January 11 to February 11, 2021. This does not constitute an endorsement by Statistics Canada of this product.

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