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Impact of COVID-19 on businesses majority-owned by visible minorities, third quarter of 2020. StatCan COVID-19: Data to Insights for a Better Canada. Catalogue no. 45280001. Ottawa, ON: Statistics Canada.

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This report analyzes the disparate impact of COVID-19 on businesses that are majority-owned by visible minorities. The findings show that 24.7% of these businesses reported a decrease of 40% or more in revenue in August 2020 compared to revenues in August 2019, compared to 21.1% of all businesses in Canada. In addition, only a quarter of these businesses reported that they had the ability to take on more debt, compared to 36.6% of all businesses. The report also highlights that businesses majority-owned by visible minorities were more likely to be approved for funding or credit.

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