MESSAGE FROM THE CHAIR
THE YEAR OF COVID To say 2020 was unprecedented may not do justice to the word “unprecedented”. COVID-19 changed everything in 2020 and its impact on our businesses and lives will last for many, many years.
Like all of our businesses, BAC was deeply impacted by the effects of the pandemic. Most Tom Mattes 6
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Del’s Pastry Chair of the Board
significantly was the postponement of our Bakery Showcase event originally scheduled for April 2020. Most members will be aware that BAC receives up to 70% of its gross revenues from this event and its postponement had significant financial implications for us. At first, we were able to reschedule Bakery Showcase to November 2020; however, as the pandemic continued to flourish it became clear to the Board of Directors that this date would also need to be postponed. Without the normal Bakery Showcase revenue, and with no indication of when we would return to some semblance of ‘normal’, the Board of Directors engaged in a restructuring plan to accommodate this new reality. Expenses were cut significantly, staffing was reduced, and a complete review of BAC’s operations and opportunities was undertaken. This restructuring process is continuing into 2021. BAC was able to take advantage of several government business support programs including the Canadian Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and the Canadian Emergency Business Account loan which has helped. Yet much work remains. The Board of Directors is committed to ensuring that the voice of the BAC will continue in the same format moving forward. As we emerge from the pandemic, we see a leaner more advocacy-focused organization, with a new value proposition. We look forward to sharing more with members as this plan unfolds, and we thank all for your continued support.
2020 BAC ANNUAL REPORT | www.baking.ca
