At CBDC Southwest, we join all Canadians in sending our deepest sympathies to the people of Nova Scotia, and to the families, friends and community members affected by the events of last week.  As details of the tragic news unfold, we are learning heartbreaking stories of unthinkable loss. These are the times when we need to come together as a community more than ever.

In this newsletter we have updates on help for your business and employees, as well as links to new resources for young entrepreneurs.
COVID-19 Resources for Small Businesses

The Government of Canada

Eligible businesses will be able to apply for the Canada Emergency Wage Subsidy (CEWS) as of Monday, April 27, 2020. This goal of this support is to help prevent future job losses and encourage re-hiring workers laid off because of COVID-19. If you apply for the CEWS, the application form will ask you to provide amounts such as number of eligible employees and gross payroll. To get ready, you can determine these amounts and preview your subsidy claim now, based on information you enter in the CEWS calculator.

To get your CEWS payment faster, the CRA suggests that you get ready to apply by signing up for a My Business Account and by registering your payroll account for direct deposit. If you are not sure if you’re eligible to apply, check the CEWS eligibility criteria here.

On Friday, April 17, 2020, Prime Minister Justin Trudeau announced new actions to protect Canadian jobs and provide more support to 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.
• $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.

The government is also announcing new measures to help retain and create approximately 10,000 well-paying jobs in the energy sector. To support Canadians working in this sector, the Government of Canada will:

• provide 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 – creating thousands of jobs and having lasting environmental benefits.
• provide 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.
• expand 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.

On the Government of Canada COVID-19 Economic Response Plan website , you will find updated information all the federal supports available to you, your business and employees.

ACOA
The Atlantic Canada Opportunities Agency (ACOA) has support available for small or medium-sized businesses impacted by COVID-19. You can visit their website at canada.ca/acoa or call 1-800-561-4030.

The Government of New Brunswick

The Government of New Brunswick COVID-19 Guide for Businesses is an important website to bookmark as it outlines the provincial supports to businesses impacted by COVID-19.

Small Business Emergency Working Capital Program

As mentioned in our last newsletter, the Government of New Brunswick has made funds available to the Community Business Development Corporations ( including CBDC Southwest) to provide Small Business Emergency Working Capital. Owners of small businesses impacted by the COVID-19 pandemic can apply for working capital loans up to $100,000 through the Small Business Emergency Working Capital Program. To apply for this program, just follow the step-by-step instructions outlined by CBDC Southwest Program Officer Sean Donovan in this video.

OTHER SUPPORTS:
The Business Development Bank of Canada (BDC) has lots of useful information in this webinar and on this webpage about continuity planning and cash flow planning.

Your Local Financial Institution
The Office of the Minister of Small Business, Export Promotion and International Trade has been working with the financial sector to increase their lending capability to support you at this time.

Canadian Chamber of Commerce

In partnership with the Government of Canada, the Canadian Chamber of Commerce established the Canadian Business Resilience Network to help Canadian businesses navigate the COVID-19 reality and prepare for recovery.  The Canadian Chamber has also created a pandemic preparedness guide for your business.

WorkSafe NB has announced that assessment premiums related to employer payrolls for March, April and May will be deferred for three months without interest charges.

LearnSphere Canada is offering free webinars on a range of timely business topics, from cash management to working productively from home. What information would help you most at this time? Tell LearnSphere in this one-question survey.

CBDC RESOURCES:

CBDC Youth Entrepreneurship Jeunesse

Are you (or someone you know) a young entrepreneur/business owner between the ages of 18 and 34? If so, check out the Facebook page for CBDC Youth Entrepreneurship Jeunesse. They have some great workshops coming up!

You can also join the new private Facebook group, NB Young Entrepreneurs - Jeunes Entrepreneurs NB, which has been developed to offer an online network for young New Brunswick entrepreneurs.

CBDC Southwest is hosting a free half-day webinar, Digital Sales using Social Media, in support of CBDC Youth Entrepreneurship Jeunesse on Thursday, May 14^th from 9 am to 12 noon. In this webinar, you will learn how to develop a digital sales strategy, select proper content, stay on budget, attract the right client, and much more. Register here.

CBDC Southwest Videos:

Tips on how to maintain cash flow within your business
Professional business coach and author Ron Robichaud shares valuable advice about maintaining cash flow for your business.

CBDC Southwest - General Information, Funding Options and Resources

CBDC Southwest program officer Sean Donovan outlines programs offered through CBDC including loans and the Self Employment Benefit program (SEB).