Rossland NewsA Message from Community Futures

March 20, 2020

At Community Futures Greater Trail, we’re taking steps to deliver effective support and relevant resources for entrepreneurs and small businesses in our communities. 

We’re here for you!

A variety of options are now available.

Support for Businesses

No employer should feel like they have to lay off a worker in the face of COVID-19. To further support businesses and their employees, the Government has announced:

  1. A new Business Credit Availability Program (BCAP) making more than $10 billion available to Canadian businesses in financing and credit insurance solutions through:
  2. The CRA will defer tax payments until August 31, 2020, to help businesses with cash flow.
  3. Immediate relief for small businesses with a 10% wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer.
  4. A new Emergency Care Benefit of up to $900 biweekly for up to 15 weeks for self-employed people and others who are not eligible for EI sickness benefits.
  5. Increased credit available to farmers and the agri-food sector through Farm Credit Canada.  

Support for Tourism Operators

If you are a tourism operator or small or medium-sized business or organization and have received RDA funding and COVID-19 is affecting your operations, you are encouraged to contact your local RDA office, Western Economic Diversification Canada, to review your situation and provide guidance.  1-888-338-WEST (9378)

You may be eligible to receive additional funding and/or flexible arrangements. Further support will be determined on a case-by-case basis as the situation evolves.

If you are impacted by the sudden shifts in the economy and need pressing assistance, Western Economic Diversification Canada could assist you with:

  • Access to federal funding to help you stay in business.
  • Advice and path finding services to other federal programs and services available.

 Support for Employees

 

No Canadian should have to worry about losing their job, paying their rent or putting food on the table because of COVID-19. The Government is:

  1. Enhancing the Work-Sharing program to support employers and their workers who are experiencing a downturn in business.
  2. Waiving the one-week waiting period and the requirement for a medical certificate for employment insurance (EI) sickness benefits to provide immediate support for workers in quarantine.
  3. Temporarily boosting Canada Child Benefit payments to ensure working families have enough money to support their kids.
  4.  Introducing an Emergency Support Benefit to provide support to workers facing unemployment who are not eligible for EI.
  5. Extending the tax filing deadline to June 1, 2020.
  6. And much more

For complete details, please visit:

https://www.canada.ca/en/services/business/maintaingrowimprovebusiness/resources-for-canadian-businesses.html

And finally, here is an article from Small Business BC that you might find helpful: 

COVID-19: Managing and Pivoting During at Time of Crisis

 

Be well and stay in touch by following us on social media for the latest.

Stay local, support local.COVID-19 UPDATE