COVID-19 Support & Resources for Small Businesses and Entrepreneurs
Four Key Considerations:
Below are links to some of the key resources the Federal and Provincial Governments have announced to help small businesses get through this challenging time.
Federal Government Support
Canada Emergency Response Benefit (CERB), providing $2,000 a month for up to four months for workers, small business owners and entrepreneurs who are not receiving a paycheque as a result of COVID-19.
The Temporary Wage Subsidy for Employers which is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA). (Recently increased from 10% to 75%)
Provincial Government Support
CLICK HERE for full list of support provided by the Provincial Government including Commercial Rent Deferral, Changes to Payments for loans, business renewal fees, etc. Measures for Restaurants, and more.
Other Resources & Support
ACOA – Atlantic Canadian Opportunities Agency is available to support small or medium sized businesses impacted by the sudden shifts in the economy who are looking for advice regarding the federal programs and services available.
BDC – The Business Development Bank of Canada has announced measures to assist entrepreneurs and businesses during this time, including purchase order financing, small business loans, and working capital loans
CFIB – The Canadian Federation of Independent Businesses can provide you with expert advice to guide you through this difficult time, as well as templates and policies that prevent viral transmission in the workplace.