COVID-19 Policy Brief Series

COVID-19 containment measures, while essential to seeing resolution of the epidemic, have come at tremendous economic cost. Businesses are struggling to retain cashflows needed to meet immediate short-term obligations such as wages and rent. The inability of businesses to cope with the pressure, and make ends meet during the crisis, marks the beginning of what could be a swift deterioration of invaluable economic structures, irreparably harming Ontario’s economic future. Immense relief measures are needed if such structures, including supply chains, markets, private investment, and credit facilities are to be preserved through the pandemic.

This report examines the policy tools capable of providing critical economic relief, and the economic risks of failing to act appropriately. Confidence in the government’s ability to see the economy through the pandemic must be palpable if markets are to remain liquid, and our economy is to be preserved.

Collaboration has been a dominant theme throughout the COVID-19 crisis, both within and across countries. In Ontario, unprecedented alignment between businesses and all levels of government has been instrumental to crafting policy responses and supplying critical products and services. 
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However, this cooperation will be put to the test as communities around the world take steps to reopen their economies and turn towards recovery. While globalization had been in retreat for years prior to the crisis, the brief warns against pulling integration back further and underscores the importance of global ties, particularly for Ontario, where economic growth depends on harmonious global trading relationships and well-functioning international supply chains. Continued collaboration will also be required as provinces begin to ease public health measures at different rates. Managing the interprovincial movement of goods and people will require a renewed commitment to collaboration to avoid jeopardizing the progress already made.  
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Read our report.

Small Business, Big Impact: How SMEs are Pivoting During COVID-19, examines explores Ontario’s small- and medium-sized enterprises (SMEs) which have been at the centre of the economic crisis created by COVID-19. Since small businesses are the backbone of the economy and key to vibrant communities, this situation has sparked great concern among policymakers.

The 28 SMEs profiled in this policy brief share best practices and how they have pivoted during this unprecedented period.

Read our report.