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Update / Mise à jour: COVID-19

March 27, 2020

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REMINDERS:

To ensure you have the information you need to navigate through this uncertainty and to give you a space to ask questions about how our government can support your business, we continue to host regular conference calls. If you, or someone you know, would like to be included in these calls, please fill in this Google form with your name, email, and organization.

You can find live updates and information about Canada’s response to COVID-19 here: http://canada.ca/coronavirus/.

You can find information about our supports for small businesses here: http://canada.ca/covid-19-business.  

The Canada Border Service Agency’s Border Information Service (BIS) is now accessible 24/7. For the most up-to-date information related to cross border travel and business, please call 1-800-461-9999.

We will get through this by working together. If you are a Canadian manufacturer or business that can assist Canada in meeting the need for medical supplies, your help is needed. Please visit this website to learn more and submit a proposal.

UPDATES FROM YESTERDAY:

Yesterday, the Prime Minister and Minister of Finance announced the Canada Emergency Response Benefit (CERB). This will provide $2,000 a month for up to 4 months to Canadians who are not receiving a paycheque due to COVID-19. To make it simpler for people applying, we’ve combined our two measures previously announced (the Emergency Care Benefit and the Emergency Support Benefit) – the CERB means Canadian workers, entrepreneurs small business owners will get the financial support they need ten days after applying for this benefit. The Application Portal will be launched in early April. This benefit applies to employees, entrepreneurs, small business owners – and you will qualify for it if you have lost your job, or you’re not being paid because you have to stay home to self-isolate, to watch your kids because of school closures, or to care for someone who is sick. To learn more about the benefit, please read the News Release.

MORE KEY SUPPORT MEASURES FOR CANADIANS TO DATE:

  • Provide additional flexibility to support businesses as necessary through EDC, BDC, Farm Credit Canada, and the Canada Account.
  • Support the mortgage financing market in Canada through enhancements to the CMHC.
  • Increase the Canada Child Benefit by $300 per child for the 2019-20 benefit year. Qualifying parents will receive the extra amount as part of their May payment.
  • Provide a temporary wage subsidy for three months to eligible small employers. Eligible employers include those eligible for the small business deduction, unincorporated employers, certain partnerships, non-profit organizations, and charities.   
  • Provide a special payment under the GST credit to low and modest-income families.
  • Help prevent shortages of patented drugs or medical devices.
  • Increasing the protection of Canadians’ savings by providing the Minister of Finance with the flexibility to increase the CDIC’s deposit insurance limit.
  • Support provinces and territories with a COVID-19 Response Fund including one-time funding of $500 million through the Canada Health Transfer.
  • Introduce a pause on the repayments of Canada Student Loans for six months.
  • Reduce the minimum RRIF withdrawal to help protect seniors’ retirement savings.

WHERE TO START:

Whether you are self-employed, a small business owner, or an entrepreneur – you shouldn’t have to worry about having to lose your business or your job.

To get the help you need: 

  1. Visit our website for businesses for information about supporting your employees and your business. It is constantly updated as the COVID-19 crisis evolves.
  2. Contact your local financial institution. Since we know most small businesses have a relationship with their local financial institution already, we’ve worked with the financial sector to increase their lending capacity to support you in this challenging time. They are a good first place to start for help.
  3. Download the Canada Business App to find tailored supports to address your needs in the face of COVID-19.
  4. Consult the Canadian Chamber of Commerce’s pandemic preparedness guide to help prepare your business in the days and weeks to come.

THE TEAM:

For assistance at any time, please reach out to the team member below who represents your region. Based on the current volume of email, if you reply to this email directly without copying the appropriate regional team member, my response may be significantly delayed.

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