Businesses Are Going Virtual

Businesses are going virtual to continue operating, says a study by CIBC. With two-thirds (68 per cent) of Canadian business owners continuing to feel the negative impacts of COVID-19, owners are trying several new strategies. Thirty per cent have increased their virtual presence while 16 per cent of businesses pivoted to operate completely online. More than half of businesses (57 per cent) believe businesses in their area are in crisis mode and 43 per cent believe businesses in their area are in recovery mode. The study shows Canadian businesses are showing resilience by going online with 56 per cent using at least one government program this year.