Fears of bankruptcy as small businesses stare down federal CEBA loan deadline ...Middle East

Small businesses and consumers are starting the new year with shaky confidence in the economy, according to a new Bank of Canada survey. Long-standing financial challenges for small businesses are compounded by a looming deadline: on Jan. 18, the bill to pay back billions of dollars in emergency pandemic loans from the federal government is due. The central bank’s fourth-quarter outlook reveals economic pessimism and uncertainty. About 60 per cent of consumers and 38 per cent of businesses surveyed believe a recession will hit Canada in 2024. “While many Canadians are experiencing rising levels of financial stress, this stress is higher among those who typically live paycheque

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