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Poll finds second wave worries among owners of small- and medium-sized businesses
Research by KPMG in Canada has found that almost one-third of small- and medium-sized business owners worry they won’t make it through a second wave of COVID-19 and more than half say their current focus is on survival.
At the same time, some businesses say they are well-positioned to come out on the other side and see an opportunity to grow their business either organically or in buying distressed assets.
John Cho, a partner and head of KPMG’s deal advisory services, says this is a pivotal moment for the concerned businesses.
“These companies are the backbone of the Canadian economy, and up to now, we have seen few insolvencies. But worries over a second wave leading to another shut down has one in four seriously looking to exit their businesses,” he says.