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Business Support Updates (May 22nd, 2020)

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CENTRE WELLINGTON CHAMBER OF COMMERCE
PROVIDES BUSINESS SUPPORT UPDATES

 
CBRN Launches  National Guide for Business Reopening: as businesses prepare to reopen or revamp their operations amid the ongoing COVID-19 pandemic, there are numerous issues and challenges to consider. This toolkit prepared by the  Canadian Chamber of Commerce’s Canadian Business Resilience Network  (CBRN) is designed to provide guidance, or access to guidance, for business owners and senior managers responsible for re-establishing their operations while ensuring the health and safety of their staff, customers, suppliers and the general public is at the forefront. The  toolkit  provides key information on:
  • government regulations, childcare availability, sourcing PPE, government financial supports and communicating to staff, customers and suppliers.
  • links to a wide range of additional toolkits and resources prepared by members of the CBRN.
  • key sections of the guide will be regularly updated online to provide the most recent information available.

More Information for  Canada Emergency Commercial Rent Assistance (CECRA)  Program Released: the federal government provided more information on the CECRA program, including eligibility, what is needed to apply and that applications will become available on May 25. Landlords looking to use the program to help their tenants mitigate the impacts of COVID-19 are encouraged to prepare for the application process prior to Monday. More info  here


Expanded Eligibility Criteria for  Canada Emergency Business Account (CEBA) : the federal government announced an expansion to the eligibility criteria for the Canada Emergency Business Account (CEBA) to include many owner-operated small businesses, including farmers without payroll. The CEBA will now be available to a greater number of businesses that are sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll. To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 would need:
  • a business operating account at a participating financial institution
  • a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return.
  • eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance.
More info  here

Government Announces  Canada Emergency Wage Subsidy (CEWS)   Extension : the federal government announced that the wage subsidy will be extended to August 29, 2020 and additional types of organizations are now eligible to apply. Neither the 30% drop in revenue requirement nor the allowed types of payroll used in calculations have changed. More information  here


FedDev Ontario launched the  Regional Relief and Recovery Fund (RRRF)  to Support Local Economies: Southern Ontario businesses that are unable to access other existing measures can now apply for RRRF support through FedDev Ontario. As the RDA for southern Ontario, FedDev Ontario will work with key partners such as the Community Futures Development Corporations across the region to help southern Ontario businesses during these difficult times. A total of $252.4 million will be available for southern Ontario businesses. For more information on eligibility and how to apply, click  here
To apply through WWCF - RRRF Application click here

Government Announces the Opening of the Application Process for the  Large Employer Emergency Financing Facility (LEEFF):  the program will support Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing. LEEFF will help successful applicants keep their operations going. Read full media release  here

Support for Women Entrepreneurs : on May 16, the Hon. Mary Ng, Minister of Small Business, Export Promotion and International Trade announced that the federal government will provide $15 million in additional funding to support women entrepreneurs through the Women Entrepreneurship Strategy (WES). This money will go directly to select organizations that are currently WES Ecosystem Fund recipients and will help women entrepreneurs through the COVID-19 pandemic. Full release  here

New Business Confidence Survey Results : As many businesses begin to reopen under new health guidelines, the  Ontario Chamber of Commerce , Automotive Parts Manufacturers Association, and Ontario General Contractors Association released a statement in response to new business confidence survey results from Campaign Research Inc., Market Research Firm. “Today’s survey results indicate that employers, employees and consumers need the right tools in place to feel safe and supported as we reopen the economy,” said Rocco Rossi, President and CEO, Ontario Chamber of Commerce. “88% of Ontarians are worried about the economy, with 50% being very worried. Meanwhile, 75% of people in Ontario 18 years of age or older are concerned about contracting COVID-19. This supports what we have been saying all along – the economy and the health of Ontarians are interdependent, and both must be addressed together.” Read the joint statement  here . Click here for survey results.


Retail Council Of Canada (RCC) Introduces a New  Workforce Tool For Retailers For Matching Talent With Jobs : COVID-19 has created an unprecedented worker supply and demand mismatch. While some sectors are forced to shut their doors, furloughing and laying off workers, other sectors are faced with unprecedented demand that current hiring processes cannot meet. The RCC is co-sponsoring the Eightfold Talent Exchange, a talent marketplace built and hosted by Eightfold.ai. The online portal will help companies identify the talent they have furloughed and make connections with companies that are hiring. This is a free platform for retailers until December 2020. More info available here.

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