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Prime Minister, Justin Trudeau, today announced new actions to support businesses and organizations dealing with the economic impacts of COVID-19. The Government of Canada will provide over $1.7 billion for targeted measures, including:
- $675 million to give financing support to small and medium-sized businesses that are unable to access the government’s existing COVID-19 support measures, through Canada’s Regional Development Agencies.
- $287 million to support rural businesses and communities, including by providing them with much-needed access to capital through the Community Futures Network.
- $500 million to establish a COVID-19 Emergency Support Fund for Cultural, Heritage and Sport Organizations to help address the financial needs of affected organizations within these sectors so they can continue to support artists and athletes. This measure is consistent with the government’s other existing COVID-19 support measures for wages and fixed costs for organizations.
- $250 million to assist innovative, early-stage companies that are unable to access existing COVID-19 business support, through the National Research Council of Canada’s Industrial Research Assistance Program.
The government is continually updating and providing new supports to different industry sectors such as Canada’s energy sector, which is dealing with low prices caused by a surge in global crude oil supply and a decline in demand due to the economic effects of the pandemic. Today, the Federal Government announced:
- providing up to $1.72 billion, including funding to the governments of Alberta, Saskatchewan, and British Columbia, and the Alberta Orphan Well Association, to clean up orphan and/or inactive oil and gas wells – meant to create thousands of jobs.
- providing up to $750 million to create a new proposed Emissions Reduction Fund to reduce emissions in Canada’s oil and gas sector, with a focus on methane. This fund will provide primarily repayable contributions to conventional and offshore oil and gas firms to support their investments to reduce greenhouse gas emissions. Of this amount, $75 million will be allocated to the offshore sector.
- expanding eligibility for the new Business Credit Availability Program announced on March 13, 2020, to help Canadian businesses get the financing they need during this period of uncertainty. The support will be available to medium-sized businesses with larger financing needs, beginning with companies in Canada’s energy sector, to help them maintain operations and keep their employees on the job.
- $20.1 million in support for Futurpreneur Canada to continue to support young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months.
SBOT Digital Town Hall: Your Top 10 Questions Answered – construction industry & covid-19
Wednesday, April 21 | 10:00 -11:00am
The Construction Industry is facing a number of challenges as a result of the COVID-19 pandemic that impact their ability to perform their contracts on time and on budget. The Surrey Board of Trade will bring together two legal experts from Fasken for a free Digital Town Hall to answer the top 10 questions the business community has on this topic.
SBOT Digital Town Hall: Your Top 10 Questions Answered – managing an unexpected remote workforce
Wednesday, April 24 | 11:00 -12:00pm
Among the many impacts that COVID-19 has had on society is the fact that many businesses and service organizations are faced with a new frontier: an entirely remote workforce. The challenge of maintaining connection to your team and work is exacerbated by distance. Productivity, processes and mental health can be strained.
Canada Emergency Wage Subsidy
BC Hydro COVID-19 Relief Fund
The COVID-19 Relief Fund allows eligible residential customers who have experienced job loss to receive three months of free credit on their BC Hydro bill based on their average consumption. The fund also allows eligible small businesses that needed to close due to COVID-19 to have up to three months of electricity charges waived.
FortisBC Customer Recovery Fund
Our Customer Recovery Fund will help our residential customers most impacted by COVID-19 by deferring their bills until June 30. Small businesses impacted will also have this option or may receive bill credits helping cover costs. We’re always here for you.
Register your online business for Surrey Store to Door
The Surrey Store to Door initiative connects Surrey residents with their local business community as a hub for online local shopping. If you own a Surrey business with online sales and delivery, register today to promote your business on SurreyStoreToDoor.ca
Small Business Marketplace
Small Business BC’s digital Small Business Marketplace is designed to help promote and market small businesses still operating during the COVID-19 pandemic. Check out the Small Business Marketplace.
BRING YOUR RESTAURANT ONLINE
Expedite Your Food Service Delivery Sign Up
We’re working with Uber Eats and DoorDash to help get Surrey restaurants online quickly. Food delivery services can allow restaurants to comply with the current provincial orders for food establishments and stay operational during this time. Find out more about how to get your restaurant or café online.
Think Local, Shop Local
During a time when all Canadians are being asked to stay at home, many businesses have remained open to provide essential services. The Vancouver Sun has compiled a directory which lists businesses continuing to serve their communities.
WHERE TO START:
We understand that many Canadian business owners and entrepreneurs are anxious about how to get the help you need in the face of COVID-19. Here are a few good places to start:
- Visit our website for businesses for information about supporting your employees and your business. It is constantly updated as the COVID-19 crisis evolves.
- 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 capability to support you in in this challenging time. They are a good first place to start for help.
- Download the Canada Business App to find tailored supports to address your needs in the face of COVID-19.
- Consult the Canadian Chamber of Commerce’s pandemic preparedness guide to help prepare you business in the days and weeks to come.
Support for Surrey Businesses
Business resources from institutions and associations at various levels of government aimed towards supporting business continuity and planning through the economic downturn caused by the COVID-19 crisis.
COVID-19 Resources for BC Business
The BC Economic Development Association has compiled a series of resources into one document for all types of BC businesses. Search by sector – professional services, entrepreneurs, tourism, etc., or by topic – taxes, utilities, banking