Although we strive to provide accurate, relevant and timely information,
there is no guarantee that the information will continue to be accurate in
the future. Government programs, and other programs available to small
businesses, can change daily. The information we provide you through this
website is for educational and informational purposes only. For advice that
pertains to your unique business situation, please get in touch with us at
1.800.265.1002 or email at [email protected]
It would be an understatement to say this has been an unusually challenging and difficult year. Those challenges will most likely continue for a while to come. What should you, as a small business owner be doing to weather the storm?
As we enter week 9 of the COVID-19 crisis, several provinces have taken small steps that mark the beginning of recovery and re-opening the economy. That's a glimpse of good news for the small businesses and agricultural producers that have been hit so devastatingly hard by this outbreak. While a return to normal may be months into the future, businesses and consumers are starting to adapt to a new normal that integrates proper health and safety practices with the realities and practicalities of day to day living.
As the coronavirus (COVID-19) situation continues to evolve, so does our
response. Since this unprecedented event began, we’ve had many
conversations with FBC Members and staff. We know how deeply some of you
are affected. Many of you are having to temporarily close your business,
lay off staff, or take other extraordinary measures. Others are
postponing travels, watching their savings take a significant hit, or
tending to a family member who has fallen ill. There’s a whole lot of
uncertainty in the world right now.
The COVID-19 outbreak has required many changes to our daily lives. At
FBC, our first priority is the health and safety of our employees and
the Members we serve. Despite the challenge facing all of us, our teams
remain committed to ensuring that all Members can file their tax returns
on time.
With growing global concerns around COVID-19 (“coronavirus”), I wanted
to let you know how FBC is responding and to reaffirm our commitment to
you and the entire FBC family. The health, safety and well-being of all
FBC Members and employees is our top priority.
Use our CEBA Checklist to prepare yourself for your loan application with your financial institution. We include a summary to help you determine if you're eligible for the program and a list of what you need when you're ready to apply. Includes application details for both payroll and expenses streams.
The Canada Emergency Rent Assistance Program has now ended. Details provided here are for your information only. The CMHC has provided sample documents of those that property owners will need to provide in support of their application and in order to be eligible for the Canada Emergency Commercial Rent Assistance Program: Attestations by both the property owner and the tenant, Rent Reduction Agreement and a Forgivable Loan Agreement. and conditions of the loan agreement in order to be eligible for the program.
Did your business take advantage of federal COVID-19 programs in 2020? If so, questions are likely racing through your mind about the tax implications of receiving benefits from the various programs. Find out how the benefits may impact your tax return.
The Canada Emergency Wage Subsidy was announced by the federal government. The Canada Emergency Wage Subsidy intends to help businesses keep their employees during the COVID-19 outbreak. We’ve prepared a summary of the program.
Through the Canada Emergency Business Account, the federal government is making available interest-free loans of up to $60,000 to Canadian small businesses. The loan can be used to cover regular costs such as payroll, rent, utilities, insurance, or other business expenses.
The Alberta government has launched a new grant to help small and medium-sized businesses reopen after COVID-19 shutdowns. Find out if your business is eligible for up to $5,000 in funding.
The federal government is launching a new rent relief program for small businesses impacted by COVID-19. They’ve released the draft legislation and proposed details for the first 12 weeks of the program. Read a summary of the proposed program.
UPDATE: CERB is now closed. As of April 6, 2020, the federal government has started accepting applications for the new Canada Emergency Response Benefit. This benefit will replace the Emergency Care Benefit and Emergency Support Benefit announced previously by the government. The benefit is meant to support workers and help businesses keep their employees.
The government has now closed the Canada Emergency Response Benefit (CERB), announced temporary changes to the EI program and introduced three new benefits. Find out how this may impact your employees.
Program Update: Applications are now closed. The Canada Emergency Student Benefit (CESB) will provide support to students and new graduates who can’t find work due to COVID-19. Read more about this new benefit.
The federal government announced they are extending tax filing and payment deadlines for most taxpayers. The measure is part of Canada's
COVID-19 Economic Response Plan. It’s intended to help Canadians meet short-term liquidity needs during the COVID-19 crisis. FBC has reviewed
the filing and payment deadline extensions and prepared a brief summary.
The Manitoba government is launching a new wage subsidy program to support employers who hire high school and post-secondary students. Learn more about this new program.
The Alberta government announced several supports for people impacted
financially by COVID-19. While many of the details about eligibility and
application processes haven't been released, here is a summary of the
initiatives that may help your employees and your business.
The B.C. government introduced a $5-billion aid package to support
employees and businesses during the COVID- 19 pandemic. The plan
includes $2.8 billion in support for individuals and services, and $2.2
billion for businesses. Here is a summary of the
initiatives that may help your employees and your business.
A new federal program will provide forgivable loans to commercial property owners if they cut their small business tenant’s monthly rent by at least 75% from April to September. Find out more about the program.
The Government of Saskatchewan has launched a temporary training subsidy for employers that will cover 100% of training costs for their employees. Find out if your business qualifies.
To encourage employees to go back to work and stop collecting federal COVID-19 benefits, the Manitoba government will pay residents up to $2,000. Find out who qualifies.
To encourage employees to go back to work and stop collecting federal COVID-19 benefits, the Manitoba government will pay residents up to $2,000. Find out who qualifies.
The province announced a new fund that will provide small businesses with a one-time grant of up to $5,000 to help them safely reopen. Read more about this new fund.
The Saskatchewan government announced a Small Business Emergency Payment (SSBEP) for small and medium-sized businesses. They are providing a one-time payment of up to $5,000 for businesses directly impacted by public heath orders related to COVID-19. Read more about the program here.
The province has announced new programs for business owners experiencing economic hardship because of COVID-19. A summary of programs and application details are provided here.
The Ontario Minister of Finance released the province’s 2020 action plan
in response to the COVID-19 outbreak. The action plan replaced the
budget announcement planned for presentation to the Legislature. In
total, the government has allocated $17 billion for helping Ontarians
through these unprecedented times. Much of the funding is directed the
health care system and helping front-line medical workers with
additional resources. However, the plan also includes $3.7 billion to
support people and to protect jobs.
The Canada Revenue Agency (CRA) is once again extending the payment deadline for current year individual, corporate, and trust income tax returns, due to the COVID-19 pandemic. Find out why this will impact you.
Read up-to-date information about all new federal programs that help small businesses impacted by COVID-19. You’ll also find links to free tools to help you with program applications.
There’s some good news for Nova Scotia’s agriculture industry: the province has created a COVID-19 Agriculture Response Program to help the sector generate economic activity during the COVID-19 pandemic. Find out who qualifies and how to apply.
The Regional Relief and Recovery Fund (RRRF) has been established to support business owners and organizations that have not been able to access other federal emergency support measures. Read more about the fund.
The Saskatchewan government announced a financial support plan for
employers and employees impacted by COVID-19. While many of the details
about eligibility and application processes haven't been released, here
is a summary of the initiatives that may help your employees and your
business.
The Government of Canada introduced measures to help farm owners and agricultural producers cope during the COVID-19 pandemic including changes to the Temporary Foreign Worker Program, AgriStability and Farm Credit Canada. Find out more.
The province has announced new programs for business owners experiencing
economic hardship because of COVID-19. A summary of programs and
application details are provided here.
To support agricultural producers during the COVID-19 crisis, the
federal government will provide $50 million in funding to farmers, fish
harvesters and other food production and processing employers that hire
temporary foreign workers. Read more about the funding available.
The federal government announced temporary changes to the Canada Summer
Jobs program. To encourage small businesses to hire summer staff,
they’re going to cover up to 100% of the minimum wage costs (up from
50%). The boost to the program will help Canadian businesses hire summer
help. And help Canadian youth find work in a tough job market impacted
by the COVID-19 crisis.
The federal government introduced a temporary wage subsidy to help
businesses keep their employees during the COVID-19 outbreak. The wage
subsidy program reduces the amount of payroll deductions some employers
are required to remit to the CRA for the next 3 months. The subsidy is
part of an economic aid package introduced to help Canadian businesses
cope with COVID-19. We provide an overview of who is eligible and how
the subsidy will be implemented.
Employment and Social Development Canada (ESDC) has announced temporary
special measures to the Work-Sharing Program. We provide a summary of
the program changes and how to apply.
The government’s measures for business are clearly still taking shape
and more detail is expected in the days to come. Nonetheless, the
government has outlined in broad strokes how it intends to approach the
task of helping large enterprises as well as SMEs. We've reviewed the
federal support programs and have provided a summary.
On March 18th, the Federal Government announced a temporary suspension
to audit interaction and debt collection in certain cases to help
Canadians coping with the COVID-19 outbreak
If you’re a farmer or agricultural producer, cash flow disruptions can have long-lasting consequences due to the time-sensitive nature of your business cycle. It’s more important than ever for you to have flexible options for credit. Find out what’s available to you during the COVID-19 crisis.
In today’s environment, you must develop pricing that will retain
customers, but also be cognizant of their changing financial situations.
So how do you approach pricing in a pandemic? We asked business experts
for their top strategies.
Many Canadian companies had employees working remotely before the
Covid-19 outbreak. Their experience can save you time and frustration as
you move your business to remote operations during a crisis. Find out
what remote-work tools and policies you can apply to your own business.
As the world grapples with the ongoing COVID-19 pandemic, people are
adjusting to changes in their routines daily – and small business owners
are no different. Read more about maintaining cash flow during times of
crisis.
Managing cash is one of the most challenging aspects of running any
business. It’s not enough to know what cash is coming in and what’s
going out. Learn more about how business owners can manage cash in a
crisis.
Like most businesses, the growth and success of start-ups and emerging
companies have been, and will continue to be, significantly impacted by
the COVID-19 pandemic. Yet, there are proactive steps that start-ups and
emerging growth companies can take to mitigate the risks to its
operations and, ultimately, its survival.
Workplaces still conducting business due to being considered “essential”
should brace for more scrutiny by the Ministry of Labour. And on
essential construction sites, that scrutiny can occur any time of the
night or day, as working hours on these sites have been extended to 24
hours per day. Employers should carefully review their current practices
to ensure they are taking all reasonable steps to protect the health and
safety of their workers.
Perhaps you thought that recent whipsawing between two revisions to the
Employment Standards Act, 2000 (“ESA”) in one year was confusing. That
was nothing compared to the deluge of acronyms and information flooding
employers in this COVID-19 world. If it feels like things are changing
daily (sometimes hourly), you’re not imagining it. Let’s try to sort it
out.
The Government of Saskatchewan has launched a temporary training subsidy for employers that will cover 100% of training costs for their employees. Find out if your business qualifies.
The Canada Emergency Student Benefit (CESB) will provide support to students and new graduates who can’t find work due to COVID-19. Read more about this new benefit.
