2020 a year of change!

 

2020 has been a year of change!  

Changes that have affected all aspects of our lives.  Socially, mentally, physically and financially.

 How have you fared?  Has your garden grown?  Did you take the time to review your business and implement changes?

 Stats Canada, along with the Chambers of Commerce, have released their information on how business has changed from the beginning of the year to today (latest numbers are as of Aug 2020).  I have tried to break out Alberta numbers as much as possible.

 

Changes:

Percentage of people who will continue working from home?               

                                                Feb 2020         May 2020        Aug 2020

Canada                       5.9%                14.4%              6.2%

            Alberta                         4%                   12%                 3.5%

-       The trend shows that some will continue to work from home, or at least work part of the time from home. 25.2% of businesses indicated that they would offer more employees the possibility of working remotely once the Pandemic is over.  14.3% are likely to require it. 

 

Length of time to return to Pre Covid operations

                                                Less than 1 week       3-4 months      6 months or more      

            Canada                       41.5%                          3.5%                7.1%

            Alberta                         36.7%                          4%                   9%

 

Percentage  of workers laid off due to COVID

                                                0-1%                            50-60%            100%

            Canada                       59.5%                          4.1%                10.6%

            Alberta                         58.2%                          4.5%                9.1%

-        29.9% of businesses reported reducing staff hours or shifts, while 28.4% laid off staff

 

Level of impact (decrease) for demand of products/services

                                                None               Low                 Med                 High

            Canada                       9.4%                8.2%                16.1%              64.8%

            Alberta                         7.8%                7.7%                15%                 68%

-       In May retail sales dropped to -31% but by June have rebounded to 3.8%...there is light at the end of the tunnel!

 

The potential for Vaccines, etc will reduce COVID but things will always be different. 

 

Just like a storm passing through and causing havoc, the damage can be repaired but the neighbourhood
will never be the same.

 

Take a look at New Orleans.  After all these years, there are still areas that have not been rebuilt or recovered. But other areas have come back strong! New updated buildings and businesses have created a better neighbourhood!

 

Recovery will be slow, but we will come back better and stronger.  We will have worked together to recreate our neighbourhood, and change will happen..