COVID-19 Business Resources
Here are some resources and information that may be helpful to you and your business during this unprecedented time:
Government of Canada
On March 18, 2020, the Prime Minister announced that – as part of the government’s COVID-19 Economic Response Plan – they will provide up to $27 billion in direct support to Canadian workers and businesses, plus an additional $55 billion to support Canadian businesses and households through tax deferrals.
Whether you are self-employed, a small business owner, or an entrepreneur – you shouldn’t have to worry about losing your business or your job. These measures will help businesses with cash flow, will help employers keep employees on payroll, and help Canadians keep their jobs.
Measures for businesses announced include:
- Essentially eliminating the payroll tax for three months by providing a 10% wage subsidy to small businesses – this will keep people employed;
- Helping businesses with cash flow by deferring tax payments until August 31st;
- Increase credit available to farmers through Farm Credit Canada.
- Introducing a new Emergency Care Benefit of up to $900 bi-weekly for up to 15 weeks for self-employed people who are not eligible for EI sickness benefits.
- A coordinated approach with the financial sector: cutting interest rates to 0.75%, and major banks increasing lending capacity by $300 billion;
- Establishing a Business Credit Availability Program (BCAP) through BDC and EDC worth $10 billion – this means more short-term loans, working capital, and export insurance-credit so that more Canadian businesses are supported.
- Enhancing the Work-Sharing Program to help businesses pay wages so they don’t have to lay anyone off;
Canadian Government looking for suppliers:
Are you a business that can supply products and services in support of Canada's response to COVID-19? Canada wants to hear from you.
Government of Ontario
The Province of Ontario has provided their information on ongoing developments and current announcements. The province will release a fiscal update rather than a complete 2020 budget on March 25th which will include financial resources to deal with COVID-19.
On March 19, 2020, the Ontario Legislature met in an emergency session to pass legislation to extend protections for employees in light of the COVID-19 pandemic. Bill 186, the Employment Standards Amendment Act (Infectious Disease Emergencies), 2020 amends the leaves of absence provisions of the Employment Standards Act, 2000 (ESA) to provide more leave entitlements to employees impacted by the pandemic and to prohibit employers from requesting medical notes in relation to the new leave.
The Township of Centre Wellington
The Township of Centre Wellington's Economic Development is here to help businesses succeed and grow with support and resources including:
- Community Improvement Plan (CIP)
- Community Investment and Demographics Profile
- Financial Incentives
Business Development Bank of Canada (BDC)
Business continuity plan and templates including templates for:
- planning team for business continuity
- essential services/functions ranking and criticalness factor
- action plan for maintaining essential service/activity
- key customers, critical suppliers and critical business partners
- list of questions and initiatives
- business continuity plan checklist
Support for entrepreneurs impacted by COVID-19 including:
- small business loans
- working capital loans
- purchase order financing
- advisory services related to financial management and operations
Businesses can learn from the global spread of COVID-19
Canadian Chamber of Commerce
Pandemic Preparedness Guide
Chambers of Commerce Group Insurance Plan: What you need to know
Ontario Chamber of Commerce (OCC)
COVID-19 Pandemic Preparedness Toolkit for Ontario Businesses
Centre Wellington Chamber of Commerce (CWCC)
CWCC Resources for Local Businesses including:
- access to pandemic preparedness toolkits, guides and templates for business continuity and crisis communications planning
- connection to business supports
- business and community information and updates
- online business directory
Canadian Federation of Independent Business (CFID)
Frequently asked questions from Canadian small business owners
Canadian Trade Commissioner Service (CTC)
Resources for Canadian businesses including:
- supporting your employees
- financial implications and business preparedness
- business travel and events
- exporting and doing business in international markets
Center for Disease Control and Prevention (CDC)
Business Pandemic Influenza Planning Checklist (from December 2005)
Employment and Social Development Canada
March 2020 Notice - Coronavirus disease (COVID-19)
Work-Sharing Program - Temporary special measures due to COVID-19
Export Development Canada (EDC)
Business Credit Availability Program (BCAP) (New program)
FAQs: What Canadian exporters need to know about COVID-19
COVID-19: Managing the impact on global supply chains
Business Planning and Consultations
Guelph Wellington Business Centre
Small Business Advisors at the Guelph Wellington Business Centre are available to do business planning and support consultation over the phone or on zoom. Appointments for consultations can be made by calling 519-826-4701
Wellington Waterloo Community Futures
The Business consultants at Community Futures are available to discuss business training, advice or financing over the phone at 519-846-9839.
Loan and Mortgage Support
For assistance with mortgage and loan payments, reach out directly to your lenders. Most lenders have now developed options to skip a payment or put a hold on a payment. Each lender has different options and many lenders are updating their policies as this situation continues to evolve.
To help provide some stability for businesses through this time of uncertainty, the Office of the Superintendent of Financial Institutions (OSFI) is lowering the Domestic Stability Buffer requirement, releasing more than $300 billion of additional lending capacity for Canadian financial institutions.
The Canada Mortgage and Housing Corporation has indicated that they are working with lenders to increase flexibilities to allow payment deferrals of up to six months.
Here is a list of common lenders and their contact information to get further details on their skip or hold a payment options.
- Scotiabank 1-800-472-642
- TD Bank 1-888-720-0075
- Manulife 1-800-567-9170
- CIBC 1-800-465-2422
- Royal Bank 1-800-769-2511
- BMO 1-877-895-3278
- First National 1-888-488-0794
World Health Organization (WHO)
Getting your workplace ready for COVID-19