As the health measures come to an end, many Quebecers are beginning to realize the impact of COVID on their finances. All sectors have been affected by job losses, business closures and labor shortages since the start of the pandemic.
With the potential end of government support, it’s back to reality for many entrepreneurs. It is estimated that one in four SMEs could shut down before the end of 2022.
In addition to closures and layoffs, the pandemic has brought its share of personal difficulties: fraud, death, break-ups, professional reorientation. Many have had to endure hardships that have disrupted their plans for the future. Add to that inflation, rising food and gas prices, and you’ve got the perfect financial storm.
Sometimes it’s the only solution, but the mere thought of it is frightening: bankruptcy. Despite the shame, some take courage and turn to a trustee for help.
Behind every debt there’s a story. A story that may even be similar to our own, or that of someone close to us.
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