Community Support & Recovery Plan

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To stay informed on Coquitlam's pandemic recovery, visit coquitlam.ca/covid19

Supporting our Business Community

On May 5, City Council approved a Community Support and Recovery Plan (CSRP), that includes immediate relief for taxpayers and a recovery fund to address the pandemic’s short- and long-term financial impact on all sectors of the community. It includes:

• Deferring 2020 utility and property tax deadlines for all property types to Sept. 30;

• Designating $5-million to implement a response plan with both short- and long-term support for businesses, residents and non-profits;

• Seeking federal and provincial stimulus funding for City capital projects to promote economic recovery; and

• Additional measures to be included

Supporting our Business Community

On May 5, City Council approved a Community Support and Recovery Plan (CSRP), that includes immediate relief for taxpayers and a recovery fund to address the pandemic’s short- and long-term financial impact on all sectors of the community. It includes:

• Deferring 2020 utility and property tax deadlines for all property types to Sept. 30;

• Designating $5-million to implement a response plan with both short- and long-term support for businesses, residents and non-profits;

• Seeking federal and provincial stimulus funding for City capital projects to promote economic recovery; and

• Additional measures to be included in the 2021 budget.

City staff are now moving forward with refining the CSRP and a host of ideas are being considered, including targeted grants, reduced or waived City fees, technology investments and marketing to support local businesses. Staff plan to present specific CSRP recommendations to Council in late May.

Business Supports

We have more than 7,000 businesses in Coquitlam, ranging from home-based operations to large enterprises with hundreds of employees. The City recognizes that this is a very challenging time for many of our local businesses as they face the impacts and the uncertainty of the current public health crisis.

From the start of the COVID-19 pandemic, Coquitlam’s Economic Development team has been reaching out to local business stakeholders and researching how best to support our community’s business sector. Over the coming weeks and months, City staff will continue to work with other levels of government, as well as business support organizations and other industry stakeholders, to help identify and inform our next steps.

This page has been developed to provide ongoing updates and information resources to Coquitlam’s business community. This will include opportunities for input, links to government and industry assistance programs, and a Q&A forum to get answers to your questions.

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To stay informed on Coquitlam's pandemic recovery, visit coquitlam.ca/covid19

  • Coquitlam Shoppers Will Shop Locally – With Safety Measures

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    by KAcres,
    supporting image

    July 21, 2020

    Coquitlam residents are willing to spend their money locally if they feel safe doing so, according to a new survey.

    About a third of local residents are shopping locally more than before, based on a survey the City conducted in the last two weeks of June to gauge consumer confidence and find out what measures may be required as shopping, in-person dining and travelling begin to re-open.

    Survey respondents pointed to crowds and lineups as top concerns, and most wanted to see physical distancing, cleaning and other measures to feel comfortable visiting in person. More than 1,200 people provided their feedback, most of them Coquitlam residents who either took part in the public survey or are part of the City’s Viewpoint online survey panel.

    Survey Highlights

    The data is being shared with local businesses to help them make informed decisions about how they may need to adapt their operations to meet the needs of their customers.

    According to those surveyed, the pandemic has significantly changed local shopping patterns, with more than three-quarters saying they are shopping less in general. When they do shop, many are taking advantage of physically distant options. About 53 per cent are shopping online more and 28 per cent are ordering more delivery.

    The good news for local businesses is that 30 per cent say they are shopping local more than usual.

    When it comes to visiting businesses or attractions in person, the biggest concerns are crowds (68 per cent), long line-ups to enter (67 per cent), fear of catching COVID-19 (56 per cent), and long line-ups to pay (43 per cent). About a quarter of respondents disliked the inconvenience of physical distancing and 17 per cent mentioned costs.

    Comfort levels varied depending on the activity. Most people feel very or somewhat comfortable visiting parks (83 per cent), buying from a food truck at a park (62 per cent) or visiting local retail businesses in person (57 per cent). About 44 per cent feel very or somewhat comfortable visiting local hair/nail salons or other personal service providers, and about 38 per cent dining in restaurants or pubs.

    The vast majority of respondents said that to make them feel safe visiting in person, businesses need to ensure distance between patrons (84 per cent), limit the number of patrons (82 per cent), conduct regular anti-viral cleaning throughout the day (82 per cent) and install physical distancing equipment such as Plexiglas barriers (79 per cent). There was also high support for customers using hand sanitizer as they enter (78 per cent), staff wearing face masks or shields (71 per cent), and customers wearing face masks (56 per cent).

    Other highlights:

    ·About 60 to 70 per cent would be willing to pay five to 10 per cent more at grocery stores and restaurants to help cover the costs of safety measures – particularly if there was a service attached, such as delivery. About 35 to 45 per cent supported this concept at clothing, electronics and household goods stores.

    ·About 54 per cent will be staying in the Tri-Cities for their vacation, with about half planning day trips around the region or overnight trips in B.C.

    ·Most people commonly rely on store websites (77 per cent) or Google (64 per cent) for store hours and operations during the pandemic.

    Almost 94 per cent of the 1,235 survey respondents said they were Coquitlam residents. The majority of other respondents were Tri-Cities residents. Ages of survey respondents ranged from teenagers to seniors, with 29 per cent falling between the ages of 16 and 44 and the balance distributed equally among those 45 years or older. More than 60 per cent of respondents identified as women.

    An infographic summary and full detailed results, further broken down by age, gender and neighbourhood, can be viewed on the City’s Business Support Portal at www.letstalkcoquitlam.ca/business.

    Supporting the Local Economy

    The consumer survey is part of the City’s efforts to support the local economy during the pandemic. Other initiatives have included:

    • Changes to practices and regulations to cut red tape for businesses, including more online services and relaxed regulations for using outdoor space;
    • Participation in the Tri-Cities #SupportLocal initiative;
    • A survey to identify local business challenges and needs;
    • In-person outreach to share the opportunities and resources available through the City’s economic development action plan and multi-sector Community Support and Recovery Plan;
    • Creation of a Business Support Portal with comprehensive information about opportunities and resources at www.letstalkcoquitlam.ca/business; and
    • Promotion of local businesses during the City’s online summer events including Canada Day and the Summer Concert Series.

    More economic development support initiatives will continue to roll out in the coming weeks and months.

    Join Viewpoint to Have Your Say

    Viewpoint, Coquitlam’s online survey community, is a convenient way to learn about and provide anonymous feedback on City issues, plans and services. Participation can be customized to areas of interest, and all answers are confidential. For information, visit www.coquitlam.ca/viewpoint.

  • More New Patios Coming to Coquitlam

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    COQUITLAM, B.C., July 20, 2020 – There will soon be more patios to enjoy this summer in Coquitlam as the City is expanding the new program to help businesses set up temporary patios and outdoor spaces on public property.

    As part of its efforts to support business recovery from the pandemic, in June the City adopted a simple, expedited process that enabled Coquitlam businesses to quickly and easily expand their patio and business spaces outdoors on their own property.

    Council has now approved the second phase of the program, which allows construction of patios and outdoor spaces on City rights-of-way including sidewalks and parking stalls, where it is safe and practical to do so.

    The potential for these new spaces ranges from a simple patio space such as a few bistro chairs and tables, to a more elaborate parklet-style spaces with platforms, planter boxes, lights and other features.

    Full details on the expanded program are available at www.coquitlam.ca/patios, including information on the application process for businesses.

    The City is also considering a future third phase of the program, which could potentially include special events and activations on City-controlled property such as parklets, street closures and temporary markets.

    New Patios on Private Property

    Following the initial announcement of the program on private property in June, several businesses set up temporary patios. This includes:

    A list of these and other patios is available at www.visitcoquitlam.ca/eat-drink.

    A Flexible Approach to Support Businesses

    The outdoor space expansion program is an example of the flexible, reasonable approach Coquitlam is taking to adapt bylaws and policies during the pandemic. To support businesses, the City has been considering ways to streamline and relax regulations that do not negatively affect public health or community wellbeing.

    For example, earlier this year the City introduced the use of digital signatures, and temporarily changed its development fee structures to allow developers to defer most of the costs of providing City services (such as water and sewer) on their sites to later in the application process.

    Support for businesses is also being provided through the COVID-19 Economic Development Response and Recovery Action Plan and the City’s related multi-sector Community Support and Recovery Plan. A summary of business supports and resources is available through a new portal at www.letstalkcoquitlam.ca/business .

    Join Coquitlam’s Efforts to #SupportLocal

    The City of Coquitlam has joined the Tri-Cities #SupportLocal campaign to assist local businesses, many of which are struggling at this time. Coquitlam strongly encourages residents to #SupportLocal for their shopping and meals; view business listings at www.wegotthistricities.com and www.visitcoquitlam.ca for a directory of 150+ Coquitlam restaurants offering takeout and delivery.

    The City has also posted a video at www.youtube.com/cityofcoquitlam to inspire the community to #SupportLocal.

    Supporting Our Community During the Pandemic

    The City of Coquitlam is here to help, with these resources:

    • Visit www.coquitlam.ca/csrp to learn about the City’s Community Support and Recovery Plan, which is providing immediate and long-term support for the non-profit sector, businesses and residents;
    • Visit www.coquitlam.ca/spirit for a free library of activities for all ages, including fitness, arts and culture, outdoor activities and ways to connect with your community; and
    • Visit www.coquitlam.ca/covid19 for updates on City services and initiatives and COVID-19 health resources.

    Coquitlam residents and businesses are also encouraged to follow the City of Coquitlam on social media (Facebook, Instagram and Twitter) and download the CoquitlamConnect mobile app for up-to-date City information. Links are available at www.coquitlam.ca/connect.

    Media contact

    Kathleen Vincent
    Public Information Officer
    Emergency Operations Centre
    City of Coquitlam
    604-218-1319
    media@coquitlam.ca

  • Government of Canada supports innovative manufacturing businesses - Government of Canada

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    by KAcres,

    July 16, 2020

    The manufacturing industry is a significant contributor to Quebec’s economic growth, in addition to providing many jobs. The negative impacts of COVID-19 are being felt across many sectors in the economy, and the manufacturing sector has not been spared. Innovation and the integration of new technologies are proving to be key assets to enable SMEs in this industry to remain competitive and to enhance their productivity. By automating their processes, they are transforming how they operate, placing themselves in a better position to face the current situation related to the health crisis.

    These SMEs need support, as the investments in monetary, material and human resources needed to make this shift are often considerable, and some fear it would imperil their financial health.

    Innovation and automation serving business

    The Government of Canada firmly believes that the vitality of an economy is founded on innovation, the creation of value-added products and the development of efficient processes. That is why, for many years now, it has been supporting innovation within businesses and encouraging the acquisition of digital skills.

    Today, the Minister of Economic Development and Official Languages, the Honourable Mélanie Joly, accompanied by the Honourable Jean-Yves Duclos, Member of Parliament for Québec and President of the Treasury Board, took the opportunity during a visit to Valmec to announce financial assistance totalling close to $21 million for 45 projects that have emerged across Quebec.

    These contributions have enabled businesses to acquire and install new digital production equipment and integrate new tools with a view to modernizing their operations.

    The growth of the manufacturing sector is essential for the Quebec economy, and competitiveness is the main issue facing manufacturers, who are confronted with a series of challenges such as productivity delays, labour shortages and funding. Moreover, with current physical distancing measures, the number of workers per square foot has had to be reduced in recent months. Establishing smart factories by investing in technology, automation and robotization is proving to be a key solution, particularly to enhance productivity and reduce human intervention and operating costs, as well as to facilitate the development of new markets.

    Additional information on the projects and financial support is provided in a related backgrounder.

    Quotes

    “We are working with innovative manufacturers to give them the tools they need to develop novel technologies and processes, to the benefit of workers across Quebec’s regions. Thanks to CED’s support, they can leverage innovation, a veritable economic engine and pillar of growth, to stimulate local economies and create good jobs in their regions. Our manufacturing businesses are thus in a better position to face the slowdown caused by COVID-19.”

    The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

    “Support for businesses leveraging innovation to grow, prosper and create good jobs is at the heart of the Government of Canada’s action. Here in Québec, like across the entire country, these businesses can count on us to boost their development and better equip them to face the current crisis.”

    The Honourable Jean-Yves Duclos, Member of Parliament for Québec and President of the Treasury Board

  • Government of Canada to invest $8.3 million in western Canadian women entrepreneurs - Government of Canada

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    by KAcres,

    July 15, 2020

    Canadian women entrepreneurs are contributing to the economic success of our communities. At the same time, they have unique and systemic hurdles to overcome when starting and growing a business, and have been severely affected by the COVID-19 pandemic. For example, many of the sectors where women entrepreneurs tend to operate like retail, accommodation and food services, have been disproportionately impacted by COVID-19.

    To help remedy this situation, Terry Duguid, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Western Economic Diversification Canada), today announced $8.3 million through the Regional Relief and Recovery Fund to support the Women’s Enterprise Initiative (WEI) organizations across Western Canada. PS Duguid made the announcement on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for Western Economic Diversification Canada (WD).

    The Women’s Enterprise Centre in British Columbia, Alberta Women Entrepreneurs, Women Entrepreneurs of Saskatchewan, and the Women’s Enterprise Centre of Manitoba will each receive $2 million in additional loan funds for women entrepreneurs. In addition, $300,000 in operating funding will be divided equally among the four WEIs to meet the increased demand for advisory services and business supports.

    Targeted support for women entrepreneurs in Western Canada

    These organizations will use the funds to assist Canadian women-owned businesses unable to access larger federal relief funding programs by providing them with immediate liquidity to face COVID-19-related challenges. WEI organizations have extensive experience working with women entrepreneurs, assisting them to overcome barriers and challenges in building their businesses. They also have a proven track record in providing loans and after-care services to women entrepreneurs to ensure their long-term success.

    Supporting businesses during this unprecedented time of crisis is an integral part of Canada’s COVID-19 Economic Response Plan. These businesses are the backbone of our economy—they provide good jobs that support families across the country. By supporting employers today, Canada will be in a stronger position as we come out of this crisis.

    Quotes

    “Women entrepreneurs and women-owned businesses are facing unique challenges in Canada and across the West. I’m pleased the Government of Canada is able to provide these supports so they can continue operating and building Canada's economic future. Women entrepreneurs want to go back to building their businesses, and we will be there to help them build back better.

    - The Honourable Mélanie Joly, MP for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for Western Economic Diversification Canada

    “Western Canadian women entrepreneurs make incredible contributions to our economy and communities every day. Their economic empowerment is essential for a thriving economy and will be crucial for the economic recovery of western Canadian communities. With WD’s assistance and other Government of Canada supports women-led businesses will come back stronger than ever.”

    - Terry Duguid, Parliamentary Secretary to the Minister of Economic Development and Official Languages (Western Economic Diversification Canada) and to the Minister of Environment and Climate Change (Canada Water Agency)

    “The RRRF will assist in amplifying the supports provided by WESK (and other members of the Women’s Enterprise Initiative) to women entrepreneurs in our province. Women entrepreneurs leveraging the new loan fund can also utilize the wrap around services of WESK to address business recovery in a strategic fashion.”

    - Prabha Mitchell, Chief Executive Officer, Women Entrepreneurs Saskatchewan

  • Supporting innovation for a stronger economy - Government of Canada

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    by KAcres,

    July 14, 2020

    It is with the support of new technologies that entrepreneurs succeed in developing new products, improving production methods, deploying new marketing strategies and implementing new business processes. Businesses and organizations in all sectors need innovative solutions to stand out from the competition, improve their productivity and ensure sustainable growth.

    As one of the largest tech and research hubs in Canada, the Ottawa region is harnessing the transformative power of digital technology to support industries across the Canadian economy. These technologies support skilled jobs and economic growth, and allow the region to be more resilient in the face of COVID-19.

    Today, Karen McCrimmon, Member of Parliament for Kanata–Carleton, on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for FedDev Ontario, announced a total FedDev Ontario investment of nearly $11.2 million to support the scale-up and growth of three leading tech firms in the region: Lytica Inc. (Lytica), Solace Corp. (Solace) and You.i TV.

    Lytica Inc. uses artificial intelligence (AI) to provide real-time market insights to help companies find competitive prices and suppliers for electronic components. With a $1.08-million contribution from FedDev Ontario, Lytica will transition its current web-based portal to a Software as a Service (SaaS) model, enabling customers to integrate Lytica’s pricing analysis tools into their existing procurement software. This shift to a more customized, on-demand service will increase the platform’s value and global presence, bringing its customer base to over 500 clients worldwide. Through this project, 16 skilled jobs will be created in the Ottawa region.

    Solace Corp. enables the smart, secure and efficient movement of data for large global banks, telecommunications providers, and gaming companies. With nearly 20 years of experience and more than 350 employees, its technology is an essential tool for large corporations with high volumes of data looking to connect across a wide range of platforms, Clouds, time zones and locations. Its recently launched PubSub+ event streaming and management platform will enable Solace to address new users through various new industries like automotive, manufacturing and healthcare. A $7-million contribution from FedDev Ontario will allow the company to promote its new software solution across new industries, significantly accelerating Solace’s growth. Through this investment, the company will secure its position as one of the first-to-market in this new category of modern technology and create 67 skilled jobs in the Ottawa region.

    You.i TV is a leading Canadian technology company that provides a video streaming development platform that helps the world's leading TV and media brands distribute content across multiple digital media devices (including mobile, set-top boxes, game consoles, smart TVs and streaming devices). With FedDev Ontario’s $3.1-million repayable contribution, You.i TV will adapt its products and expand its market reach to new segments organically and through partnerships. The company expects to double its revenues in the next three years by increasing its market development beyond North America and television and media market segments, resulting in a new global clientele. In addition, You.i TV will develop a world-class innovation space to foster engagement with local universities and customers to push new technology boundaries and develop local talent. The project will create 55 skilled jobs in the Ottawa region.

    The COVID-19 pandemic has highlighted the critical importance of technology and propelled new technological developments and trends. With workplaces and industries shifting online and the need for virtual solutions greater than ever, tech firms like these have managed to adapt their models to continue to service their clients, while finding opportunities for development and growth.

    With Government of Canada support, these three projects are expected to create over 140 skilled jobs across Ottawa, primarily in the fields of science, technology, engineering and math (STEM). Together, the projects will generate more than $28 million in total investment for the Ottawa Region and significantly increase regional supply chain spending.

    Quotes

    “These three advanced technology projects build on Ottawa’s history of tech research and innovation, and ensure that we keep pushing the boundaries to grow our regional economy. These companies are leaders in their industries and will not only strengthen our technology cluster, but will create over 140 quality skilled jobs across the Ottawa region.”
    — Karen McCrimmon, Member of Parliament for Kanata–Carleton

    “Across the country, technology is transforming traditional industries, business development and the way in which we collaborate. Helping companies innovate so that they may increase their competitiveness and create high-quality jobs has been at the heart of our priorities for many years. We support these successful Ontario SMEs that will be part of the solution to give back good jobs to Ontarians, contribute to the vitality of our local economies and, for some, fight the pandemic. As shown by today's announcement, we were there for them before the pandemic and we will continue to work together to find solutions and come back even stronger.”
    — The Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for the Federal Economic Development Agency for Southern Ontario

    “Lytica provides comprehensive and trusted component pricing intelligence for the electronics industry. Working with leading electronics companies globally, we drive cost reduction, lower risk and save our clients millions in procurement costs. We are thrilled to be working with FedDev Ontario. Their support is a great help to Lytica as it enables us to accelerate the transition to a full SaaS business model and address an ever-growing global customer base.”
    — Martin Sendyk, President and CEO, Lytica

    “Solace enables organizations around the world to operate in real-time by moving data from business events like "order entered," "boarding pass scanned," and "product shipped" from where they occur to where they need to be—and with lightning speed. Operating in real-time is emerging as a critical requirement for digital transformation, and the event-streaming and management technology that Solace provides is part of what IT needs to achieve it. FedDev Ontario's support will be critical in helping Solace become a leader in this emerging global market. We are incredibly grateful for the expanded growth opportunity it will provide."
    — Mychelle Mollot, Chief Marketing Officer, Solace

    “As demand for streaming services and the proliferation of consumer devices surge worldwide, our mission has never been more important: help the world’s largest brands own the glass and deliver content everywhere. This investment will help fuel our expansion into new markets and verticals that will help our customers reach new viewers and subscribers, wherever they are watching.”
    — Jason Flick, CEO and Co-founder, You.i TV

  • B.C.’s strong fiscal response, economic foundation support people - Government of B.C.

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    by KAcres,

    July 14, 2020

    The COVID-19 pandemic will mark British Columbians' lifetimes in ways never thought possible, and the Province is investing in people, businesses and communities to see them through the pandemic and build back better.

    “B.C. has made extraordinary investments in people and businesses through B.C.’s COVID-19 Action Plan and we will continue to provide the supports people need as the pandemic and the economic impacts evolve,” said Carole James, Minister of Finance.

    The B.C. government has released an economic and fiscal update for 2020-21 to provide a summary of COVID-19 investments to date, as well as a scenario of revenue and deficit projections.

    Government has supported people and businesses with $6.26 billion in COVID-19 supports to date. That includes the $5 billion in supplementary spending for B.C.’s COVID-19 Action Plan supports, such as workers benefits, rent supplements, income and disability assistance supports and economic recovery funding. These are in addition to $1.26 billion in other tax and relief measures for people and businesses, including the one-time increase to the climate action tax credit and property tax reductions for businesses.

    With the pandemic response for British Columbians, and a significant revenue decline due to the pandemic, the Province’s total operating deficit for 2020-21 could be $12.5 billion, based on projections developed by the Ministry of Finance.

    “B.C.’s safe restart plan is creating signs of hope for our economy as consumer confidence increases. These results have only been possible because of our strong public health measures,” James said. “As we continue our work to create a strong recovery, we also have an opportunity to build a stronger B.C. that works for everyone in our province.”

    British Columbia has made progress flattening the curve because of its strong health policy and a commitment to help keep each other safe. The Province is building an economic recovery plan that puts people first, with input from British Columbians, businesses and community organizations – so everyone has a good job and a secure future.

    “The pandemic has exposed underlying gaps in our economy and society,” James said. “We have been reminded of the need for strong public services and supports, workplace safety and our collective responsibility to take care of each other, and I’m looking forward to putting people’s input into action as we move forward with the economic recovery of our province.”

    As part of the COVID-19 Action Plan, $1.5 billion has been earmarked for economic recovery measures to be announced in September.

  • Canada Supports Inclusive Growth Through Economic Recovery - Government of Canada

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    by KAcres,

    July 9, 2020

    The Government of Canada is committed to innovation and building a clean energy future. This commitment will be more important than ever as we begin to reopen the economy and plan our recovery from the COVID-19 crisis.

    The Honourable Seamus O’Regan, Canada’s Minister of Natural Resources, today participated in the International Energy Agency’s (IEA) Clean Energy Transitions Summit, the first IEA ministerial-level meeting entirely dedicated to the clean energy future. Minister O’Regan joined leaders from governments and industries around the world to discuss actions for sustainable recovery and clean energy technology innovation.

    Minister O’Regan led a ministerial session on inclusive growth, which focused on placing people and communities at the heart of economic recovery and the long-term transition to a clean energy future. In recognition of the unprecedented and extensive impacts of the COVID-19 pandemic, he highlighted the importance of taking action to support workers and create the conditions for a more inclusive workforce.

    Governments and industries alike have an opportunity to create more equitable and inclusive employment growth. Mobilizing the participation of traditionally underrepresented groups, including women, youth, racialized groups and Indigenous peoples, will be vital to the post-COVID-19 recovery and long-term economic growth.

    Minister O’Regan also announced that Canada is leading the development of a reporting framework under the Equal by 30 initiative that will enable signatories to track and report on the concrete actions they are taking to close the gender gap across the energy sector. Led by Natural Resources Canada, Equal by 30 is a global campaign under the international Clean Energy Education and Empowerment (C3E) Initiative, a joint effort by the Clean Energy Ministerial and the International Energy Agency to advance gender equality in the energy sector. To date, close to 150 organizations across the energy sector, including governments, companies and non-profit institutions, have taken the Equal by 30 pledge.

    The government remains committed to building a clean energy future that will not only support our natural resource sectors through this tough economic time but also grow the economy and create good jobs.

  • Historic COVID-19 Plan Provides Canadians With the Support They Need to Get Through the Economic Crisis - Government of Canada

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    by KAcres,

    July 8, 2020

    The COVID-19 crisis is the challenge of our generation. The Government of Canada has responded with rapid and broad-based emergency support measures to protect the health and economic well-being of Canadians.

    Today, Finance Minister Bill Morneau presented an economic and fiscal snapshot. The federal government has used its strong fiscal position to stabilize the economy and support Canadians by putting in place the largest economic aid package in generations.

    While the toll of COVID-19 on the broader economy in 2020 is expected to be the largest and most sudden economic contraction since the Great Depression, measures to flatten the pandemic curve in Canada are paying off, and efforts are underway across the country to safely and gradually reopen the Canadian economy. The actions and investments of governments across Canada to date have helped us get this far. But the road towards recovery remains long and uncertain. Today, and in the months to come, our economic health will largely depend on our public health.

    Canada’s COVID-19 Economic Response Plan is ensuring Canadians have the support they need to put food on the table and keep a roof over their head. Representing nearly 14 per cent of Canada’s gross domestic product (GDP), the Plan includes more than $230 billion in measures to protect the health and safety of Canadians and provide direct support to Canadians, businesses and other employers, and up to $85 billion in tax and customs duty payment deferrals to meet liquidity needs of businesses and Canadian families.

    With comparatively low levels of debt, the Government of Canada has the room to borrow and support the Canadian economy. In fact, even given Canada’s increased borrowing needs due to the COVID-19 response, public debt charges are expected to fall in 2020-21, as a result of historically low borrowing rates.

    Through responsible fiscal management, the government is building a bridge from an emergency to a safer place where we can build a more resilient economy for the future.

    The government will continue to ensure Canadians are supported through this crisis and stands ready to take additional actions to mitigate the impacts of the pandemic.

    Quotes

    “The COVID-19 pandemic has had a major impact on the social and economic well-being of Canadians in every part of the country. For many it has meant lost jobs, lost hours and lost wages. Our government has understood, from the moment this pandemic began, that it was our role to step in to support Canadians and stabilize the economy. Our investments have meant that Canadians and Canadian businesses, instead of drowning in debt and closing up shop, will be better positioned to get back at it. As economies gradually and safely reopen, we will continue to ensure that Canadians have access to the support they need.”

    - Bill Morneau, Minister of Finance

    Quick facts

    Today’s economic and fiscal snapshot noted that:

    • As businesses and many sectors of the economy closed or curtailed their activities as a result of the pandemic, the Canadian and global economies took a severe hit. In Canada, 5.5 million Canadians – 30per cent ofthe workforce – either lost their jobs or saw their hours significantly scaled back over March and April.
    • Private sector economists expect an annualized decline of over 40 per cent in Canada’s real GDP in the second quarter of this year. They expect the economy to contract by 6.8 per cent in 2020 as a whole, its sharpest drop since the Great Depression, before rebounding by 5.5 per cent in 2021.
    • There are now growing signs that the worst of the economic shock is behind the Canadian economy, as the gradual and safe reopening of the economy continues. The shape of Canada’s economic recovery is uncertain and highly dependent on public health.
    • The decisive and substantial support providedthrough the government’s economic response planhelped prevent further costly damage to the Canadian economy by replacing the more than $40 billion lost in labour income, preventing the contractionin real GDPto reach over 10 per cent in 2020 and the unemployment rate to rise by a further 2 percentage points.
    • The temporary measures implemented through the government’s economic response plan will have a significant impact on the federal deficit.Coupled with the severe deterioration in the economic outlook, these result in a projected deficit of $343.2 billion in 2020-21.
    • While this year’s deficit estimate is elevated, the government’s response is in line with the fiscal response deployed by other comparator countries.Coming out of the crisis, Canada is expected to maintain its low debt advantage among G7 countries. The government’s commitment to maintaining this advantage will help ensure that future generations are not burdened with COVID-19 related debt.
  • Building a Bridge for Business - Government of Canada

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    by KAcres,

    The government has taken immediate and decisive action to help keep Canadians employed and support businesses through this challenging time. Canada’s COVID-19 Economic Response Plan includes support for businesses of all sizes so that they can avoid layoffs, pay their employees and cover their rent.

    Canada Emergency Business Account (CEBA)

    Small businesses and not-for-profits have access to the Canada Emergency Business Account (CEBA), which provides interest-free, partially forgivable loans of up to $40,000 and is offered through financial institutions, such as banks and credit unions, in cooperation with Export Development Canada.

    As of July 3, 688,000 applicants have been approved for CEBA for a total of $27.41 billion in funds disbursed, including $7 billion of which is forgivable if the loan is paid back before December 31, 2022. Over 65 per cent of the businesses eligible based on the payroll criteria have benefitted from the program.

    Canada Emergency Wage Subsidy (CEWS)

    To help keep Canadians employed and support businesses, the government introduced the Canada Emergency Wage Subsidy (CEWS) – a wage subsidy of 75 per cent for qualifying employers, up to $847 per week per employee, beginning March 15, 2020. The CEWS gives employers financial support so they can keep or re-hire their workers. The CEWS helps Canadians keep their jobs, and prepares businesses to rebound from the crisis in a strong position. To date, the program has supported about three million employees by helping them stay in the workforce or return to work.

    Taking into consideration the comments of key business and labour organizations during April and early May, the government announced on May 15, 2020 a proposal to extend the CEWS by an additional 12 weeks to August 29, 2020. The May 15 announcement also included a proposal to extend eligibility for the CEWS to a number of other types of employers that were not included previously.

    Canada Emergency Commercial Rent Assistance (CECRA)

    As Canadians take action in the fight against COVID-19, many small businesses have been forced to close entirely and as a result have struggled to pay rent. Together with the provinces and territories, the government introduced the Canada Emergency Commercial Rent Assistance (CECRA), which helps lower rent for eligible small businesses by 75 per cent in April, May and June, with a one-month optional extension to cover July rent.

    As of July 3, Canada Mortgage and Housing Corporation (CMHC), the CECRA program administrator, has approved applications representing over 29,000 small businesses with over 209,000 employees, and total requested funding of over $221 million. In addition to thousands of applications by property owners in progress or being processed, CMHC is working closely with large property owners to complete applications to provide rent support to a further 25,000 small businesses.

    Local, Family-owned Restaurant

    Sammy owns a family-run restaurant that his parents opened when they immigrated to Canada.

    • In March, to comply with emergency measures, Sammy was forced to temporarily close the restaurant, and lay off the restaurant’s employees with no pay. Sammy’s restaurant never offered take-out or delivery, but, on April 19, Sammy decided to offer these services to the community, and was able to hire back four of his staff, each with a salary of $750 per week. Despite his efforts, Sammy experienced an average revenue decline of more than 70 per cent from April to June compared to the corresponding periods in 2019.
    • Sammy was very concerned about how to pay his $5,000 in rent. In late March, Sammy approached his property owner, Mary, about the possibility of reducing his monthly rent. While Mary was very sympathetic, and concerned about her ability to preserve her future rental revenue should Sammy lose his business, she was only able to defer a portion of Sammy’s rent given her own expenses to maintain the commercial property.
    • Sammy and Mary were able to access the CECRA. Mary obtained a forgivable loan from CMHC in the amount of $7,500, equal to 50 per cent of Sammy’s gross monthly rent for April, May and June, and is considering applying for the one-month extension to provide Sammy with a bridge to relaunch his business as the economy re-opens. Sammy and Mary equitably shared the remaining 50 per cent of Sammy’s monthly rent, reducing Sammy’s rental obligations to a more manageable $1,250 per month for the corresponding period.
    • Sammy was able to access the CEWS which provides a subsidy of 75 per cent of an employee’s salary to help him pay for his labour costs. For the months of April to early June, he received a total of $15,750 in CEWS support to pay his four employees.
    • Sammy was also able to access the Canada Emergency Business Account, an interest-free, partially forgivable loan of up to $40,000 to help pay non-deferrable operating expenses for his business, including the rent and payroll expenses remaining after receiving CECRA and CEWS. Through his financial institution, Sammy could also apply for the SME Loan and Guarantee Program under the Business Credit Available Program should he need additional financing.
    • In addition, Sammy has the flexibility to defer any payment of income tax amounts that become owing until after August 31, 2020, and was able to defer remittance of collected GST/HST and customs duties until June 30.

    Business Credit Availability Program (BCAP)

    Through the Business Credit Availability Program (BCAP), the government has ensured that credit and liquidity support is available to small and medium-sized businesses who need it. The Small and Medium Enterprise Co-lending Program allows eligible businesses to access up to $12.5 million in liquidity support, and a further loan of up to $6.25 million is available through the BCAP Guarantee Program. As of July 3, 148 guarantees have been confirmed for a total loan value of over $303.59 million. Based on the experience with similar products made available during the 2009 financial crisis, uptake of these programs is expected to grow steadily over time.

    The BCAP is also providing support tailored for mid-market businesses with larger financing needs from across the economy. Support for these businesses includes loans of up to $60 million per company and guarantees providing enhanced access to loans of up to $80 million. Access to financing supports ensures larger companies can pay the salaries of millions of Canadians these businesses employ, and support the suppliers who rely on their business.

    A Small Manufacturing Company

    Ali owns a small manufacturing corporation in Markham, Ontario that fabricates auto parts. 75 per cent of its output is exported. The company employs 25 full time employees, each earning an average monthly salary of $4,250. They have had a few large orders suspended, resulting in a 35 per cent revenue drop.

    The company was able to access the CEWS for wage subsidies of $79,688/month, for a total benefit of $239,063 for the period of March 15 to June 6, 2020 to maintain its workforce of 25 employees. It can defer any payment of income tax amounts that become owing until after August 31, 2020, giving the business more financial flexibility to address immediate needs. The company was also able to defer payments of GST/HST, as well as customs duty payments on imports, until June 30.

    Ali was also able to access the Canada Emergency Business Account, an interest-free, partially forgivable loan of up to $40,000 to help pay non-deferrable operating expenses for his business, including the rent and payroll expenses.

    Ali can also speak to his bank about existing business credit products and specific opportunities for relief. If his needs exceed the level of support Ali’s bank is able to provide, the bank could utilize the BCAP SME Loan and Guarantee Program that may offer up to $18.75 million of additional credit for the company.

    Large Employer Emergency Financing Facility (LEEFF)

    Canada’s large-sized companies employ millions of Canadians. The LEEFF program supports Canada’s largest employers, with annual revenues generally in the order of $300 million or higher and seeking financing of $60 million or more. Canada’s large-sized companies employ millions of Canadians. The government has put in place the Large Employer Emergency Financing Facility (LEEFF) to help them get through this crisis so that they can continue to support their workers. The LEEFF offers significant bridge financing to firms whose needs during the pandemic are not being met through conventional financing. Applications for LEEFF have been received and are currently undergoing the necessary due diligence to protect taxpayers.

    The LEEFF is available to support Canadians working in sectors across the economy in a fair and consistent way. Companies that receive LEEFF funding are required to publish an annual climate-related financial disclosure report, provide information on how they are contributing to achieving Canada’s commitments under the Paris Agreement and goal of net-zero by 2050, and meet obligations under existing pension plans and collective bargaining agreements.

  • Support service helps over 4,200 businesses during pandemic - Government of B.C.

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    by KAcres,

    The B.C. Business COVID-19 Support Service has served more than 4,200 businesses through phone, chat and email since its launch in April 2020, and has had more than 200,000 visits to its COVID-19 web page.

    The support service is a crucial link that helps businesses navigate the supports and services offered by the provincial and federal governments, and industry and community partners, during the pandemic. It is operated by Small Business BC (SBBC), a not-for-profit organization that delivers a variety of services to B.C. businesses through financial support from the provincial and federal governments.

    “Businesses need the support service to help navigate the rapid pace of change during this pandemic,” said Michelle Mungall, Minister of Jobs, Economic Development and Competitiveness. “We greatly appreciate our partnership with SBBC and the work it does for the business community. The support service is invaluable, and it will continue to be in place during the economic restart so that businesses can get the support they need to re-open, provide jobs and contribute to our communities.”

    Numerous supports have been announced by the provincial and federal governments to support businesses that have been impacted by the pandemic. The B.C. Business COVID-19 Support Service brings all the information together in one place, making it easy for businesses to access the resources they need.

    “This is a difficult time for businesses, but there’s help at hand,” said Tom Conway, CEO, Small Business BC. “We’ve established the support service to ensure that businesses are able to access and leverage all the supports they are eligible for, so that they can emerge successfully from the impacts of this pandemic.”

    In addition to the support service, SBBC continues to offer numerous other free and low-cost resources to help businesses succeed, including webinars and customized business advice, and the recently launched online non-medical Personal Protective Equipment (PPE) Marketplace.

    The new online PPE directory has been put in place to help businesses find vendors who supply non-medical products, like hand sanitizer, masks and face shields. This further supports B.C.’s restart plan by creating safe workspaces for employees and helping customers return with confidence, knowing that the businesses they are visiting are taking the required precautions.

    "As a startup impacted by the aftermath of COVID-19, we were struggling to find government support programs that we qualified for until we got in touch with the B.C. Business COVID-19 Support Service,” said Jonathan Kim, CEO of The Home Key, a professional workspace for the e-sports and gaming community in downtown Vancouver. "The staff were incredibly helpful and took the time to reconnect with our company as new support measures were deployed. With their insight, we managed to stay one step ahead on applications and are optimistic about the programs we applied for."

    Government remains committed to supporting B.C. businesses as they recover from the impacts of the pandemic.

    Quick Facts:

    • The B.C. Business COVID-19 Support Service is supported by the B.C. government and the Government of Canada through Western Economic Diversification Canada.
    • Advisors are available Monday to Friday, from 9 a.m. to 5 p.m. (Pacific time) at 1 833 254-4357.
    • Inquiries can also be emailed to covid@smallbusinessbc.ca, or raised on the live-chat feature available on SBBC’s dedicated website: https://covid.smallbusinessbc.ca
    • Support is available in multiple languages and a call-back feature is in place to help manage high call volumes.
    • Suppliers interested in being listed as a vendor in the non-medical PPE Marketplace can submit a request through SBBC to be part of the marketplace.

    Learn More:

    For more information on the B.C. Business COVID-19 Support Service, visit: https://covid.smallbusinessbc.ca

    For more information on the PPE Marketplace, visit: marketplace.smallbusinessbc.ca/ppe

    For more information on Small Business BC’s regular services, such as educational webinars, access to expert business advisors, and more small business resources, visit: https://smallbusinessbc.ca/

    For more information about BC’s Restart Plan, visit: www.gov.bc.ca/restartbc