Insights & Analysis

June 15, 2020

REPORT: Exceptional Times, Exceptional Measures: Alberta CEOs on shutdown impact and future recovery

The Business Council of Alberta and Viewpoint Research conducted a survey of Alberta’s business leaders to gather insights on how deeply businesses in Alberta were impacted by the economic shutdown, caused by COVID-19 and compounded by the oil price crash, and what their expectations and plans were as we begin on the path to recovery

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New report from @BizCouncilAB and @viewpoint_yyc reveals the impact of the COVID-19 shutdown to Alberta businesses and expectations for recovery. Click To Tweet

Results & Highlights

We’ve crunched the numbers and found that Alberta’s business leaders, while optimistic, have been impacted greatly and many expect the road to recovery to be long, difficult and winding. Some notable highlights:

  • Business survival: 1 in 4 companies are unsure they will make through the pandemic until a vaccine is developed
  • Employment: 61% have engaged in layoffs, and 18% do not expect to refill those positions
  • Government support: Government support will be needed to mitigate the downsides. Specifically stimulating demand, clarity on health and safety regulations, and maintaining liquidity.

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In the spirit of truth, reconciliation, and respect, we honour and acknowledge the lands upon which we live and work as guests, including the traditional territories of the First Nations in Treaties 6, 7, and 8 and the citizens of the Metis Nation of Alberta. We thank the First Peoples of this land, which we now call Alberta, for their generations of stewardship of the land, and we seek to walk together in the spirit of truth and reconciliation to build a shared future for all in Alberta.

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