Thank you, Madam Speaker. It appears that, when we now talk about our economy and small businesses in today's environment, we must preface it with the term "COVID-19." Madam Speaker, believe it or not, not all businesses are being treated equally in this harsh economic environment. Government tends to favour larger businesses over small, and maybe there is good reason for that. it is just as important to think of our small businesses where, in Canada, approximately 60 percent have experienced a revenue drop of 20 percent or more. Small businesses, statistically, have laid off a larger percentage of staff than larger businesses. Small businesses, on a greater average than large businesses, have sought credit from financial institutions just to cover basic operating costs.
Madam Speaker, when operating in the North, generating revenue and cash flow for any business, big or small, is problematic at the best of times. It is our small businesses, not only in Yellowknife but in all communities, that are feeling the economic realities of COVID-19. This impact, along with bureaucratic opposition to applying government policies that are meant to support our small Northern businesses in the best of times, is only working to smother any chance they have at survival.
Madam Speaker, I routinely have the opportunity to talk to business owners, not only in Hay River but in Yellowknife and throughout the NWT. A common theme that arises from those discussions is the question why this government is not doing more to listen to and address the immediate concerns of small businesses? Madam Speaker, the bottom line is that our small businesses need work, and they need it now. They need to generate revenue, and this government has plenty of work on the books to keep all our small businesses working in all our communities. We as politicians have to realize that, and we have to make the bureaucracy realize it, as well. We need to take a can-do attitude.
Madam Speaker, we talk about reviewing and revising our procurement and business incentive policies to better support our businesses. I would suggest that while we work towards that end, let us apply what we have in place to address current needs. NWT small businesses need this government to work and support them if they are expected to survive, and we have tools to make that happen. Those tools just need to be sprinkled with some magical political will. Thank you, Madam Speaker.