Accounting Services, Vancouver
April 23, 2020

Supporting BC Businesses

 

Supporting BC Businesses

We wanted to take a quick moment to reach out to all businesses, entrepreneurs & self-employed individuals. 

We ourselves are a local, family-run business, and we know the toll this has taken on businesses around the North Shore. We are here to support all of our clients, and are having many conversations about how they can succeed during these very uncertain times. 

A survey was done last week of over 1,200 business leaders in BC, asking a variety of questions regarding the state of their business & their outlook for the coming months. 

  • 43% surveyed said they would probably be able to only last up to 3 months under the current restrictions. 
  • For businesses temporarily closed, only about 53% predict they will be able to reopen and another 38% said they were unsure. 8% have already decided they will NOT reopen.
  • The top operating expense from businesses, according to those surveyed, was wages at 64%. Followed by rent at 54%, then taxes at 34%, and goods & supplies 32%. 

These survey results are disheartening. As business owners ourselves, we know the sacrifices businesses are taking right now to stay afloat and adapt to all the changes. 

If YOUR business needs advice or help in these trying times, please contact us. Our professional accountants are experienced and knowledgeable on how best to support your business. Our goal is to see you and your business make it through this, and find success even during times of uncertainty. 

Cahill CPA partners & team 

For the complete survey, check out:

Covid Impact Survey on Local Businesses 

 

 

Crystal Cahill

Crystal Cahill is responsible for the social media and marketing at Cahill CPA. Crystal completed her Bachelor of Arts Degree at Simon Fraser University in English, and has an Education Degree and teaching certification. She enjoys keeping clients updated on new accounting practices, upcoming tax deadlines, and news & events within the Cahill CPA office & staff. She is married to Cahill CPA partner Jordan Cahill, and together they have two young children.

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