What if your business has to close?

Region: Ontario Answer # 7206

If your business has closed due to government restrictions imposed because of COVID-19, there are several things you can do:

  • Check your business insurance policy to see if you are covered for loss of earnings in such circumstances.
  • If you have a commercial lease, ask your landlord if you can reduce, and/or defer your rent payments.
  • Check the relief programs available from the Federal and Provincial Governments.
  • Consider alternative ways to run your business, or use your commercial space that will not violate the government restrictions.
  • Consider subletting your space temporarily to an essential services business.
  • Speak with your financial advisor or institution for advice about getting a loan, or the feasibility of being able to re-open your business once the restrictions are lifted.
  • If you are insolvent and considering personal or business bankruptcy, check our Credit, Debt and Bankruptcy section for more information

For up-to-date information on Coronavirus COVID-19, visit Health Canada, the World Health Organization, and our related links and resources.


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