We hope you, your families and employees are continuing to keep safe and healthy, as New Brunswick begins the gradual, phased process of easing some of the COVID-19 restrictions. In this newsletter, we have updates on federal and provincial supports for businesses, as well as other resources including free webinars.

Government of Canada

Canada Emergency Commercial Rent Assistance (CECRA)
On Friday, April 24, 2020, Prime Minister Justin Trudeau announced partnerships with provinces and territories to deliver the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program will lower rent by 75% for small businesses that have been affected by COVID-19.

• The program will provide forgivable loans to qualifying commercial property owners to cover 50% of three, monthly rent payments that are payable by eligible small business tenants who are experiencing financial hardship during April, May, and June.
• The loans will be forgiven if the mortgaged property owner agrees to reduce the small business tenants’ rent by at least 75% under a rent forgiveness agreement, which will include a term not to evict the tenant while the agreement is in place. The small business tenant would cover the remainder, up to 25% of the rent.
• Impacted small business tenants are businesses paying less than $50,000 per month in rent and who have temporarily ceased operations or have experienced at least a 70% drop in pre-COVID revenues. This support will also be available to non-profit and charitable organizations.

It is expected that CECRA will be operational by mid-May, and further details will be announced soon.

Canada Emergency Wage Subsidy (CEWS)

As of today, April 27, 2020, eligible businesses can apply for the Canada Emergency Wage Subsidy (CEWS). 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.

The Government of Canada’s COVID-19 Economic Response Plan website has 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. The Government of Canada has created the Regional Relief Recovery Fund (RRRF) which will do two things:

• Mitigate the financial pressure experienced by businesses and organizations to allow them to continue their operations, including paying employees; and
• Support projects by businesses, organizations and communities so they can prepare now for a successful future.
   

More information on the RRRF will be available soon. In the meantime, if you are already working with an ACOA Program Officer, you are encouraged to connect with them to discuss your specific needs. You can also visit ACOA’s website or call 1-800-561-4030.

Government of New Brunswick
On Friday, April 24, 2020, New Brunswick Premier Blaine Higgs announced the first phase of New Brunswick's recovery plan and the loosening of some public health restrictions. The first phase contains several colour-coded public health alert levels to methodically, gradually and cautiously reopen businesses, educational facilities, the health-care system, recreational activities and cultural events.

This guidance document outlines health measures for the general public and businesses, service providers and organizations that have been permitted to open during the first phase of recovery.

As a first step, the following are now allowed:

• Two-household bubbles: Households may now choose to spend time with one other household, if both households agree. The selection made is not interchangeable.
• Golf courses and driving ranges: If all physical distancing and safety measures are in place, golf courses and driving ranges can now open.
• Recreational fishing and hunting: The delay on springs seasons has been lifted.
• Outdoor spaces: With physical distancing, people can now enjoy the outdoors including parks and beaches.
• Carpooling: Co-workers or neighbours can carpool if physical distancing measures are maintained by transporting the passenger in the backseat.
• Post-secondary education: Students requiring access to campus to fulfill their course requirements will be able to do so.
• Outdoor religious services: As an alternative to online worship, religious organizations can hold outdoor services if parishioners stay in their vehicles that are two metres apart.
• Large gatherings such as festivals and concerts are prohibited through Dec. 31, 2020, subject to change.

Restrictions that have been eased may be reinstated at any time to protect public health.

Small Business Emergency Working Capital Program

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.

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.

The latest version of New Brunswick’s State of Emergency is online, as well as up-to-date information about COVID-19.

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 managing your anxiety to selling online with Shopify and Facebook. 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 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).

We look forward to being back in touch with you soon. In the meantime, if you would like to reach CBDC Southwest directly, please call (506) 454-2747.