As another challenging “workweek” comes to a close in the current COVID-19 crisis, our hope is that you, your families and employees are staying safe and well. In today’s newsletter, we will share updates about supports for small businesses from provincial and federal governments, as well as other important resources. For more details on any of these, click on the highlighted links.  

Government of New Brunswick 

New Brunswick State of Emergency 
Yesterday, Premier Blaine Higgs announced an extension to the provincial State of Emergency to April 30, 2020. The latest version of the declaration is available online. 

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 support to businesses impacted by COVID-19. 

Government of Canada 

The Government of Canada’s COVID-19 Economic Response Plan website is another good website to bookmark. It’s constantly being updated with information about federal support for you, your business and employees. This includes information on taxes, access to emergency credit, the Canada Emergency Response Benefit (CERB), the Canada Emergency Wage Subsidy and much more.  

Yesterday, April 16, 2020, Prime Minister Justin Trudeau announced new measures to support Canadian businesses so they can keep their doors open and their employees on the job. 

The Government of Canada is: 

• Expanding the Canada Emergency Business Account (CEBA) to businesses that paid between $20,000 and $1.5 million in total payroll in 2019. This new range will replace the previous one of between $50,000 and $1 million and will help address the challenges faced by small businesses to cover non-deferrable operating costs. 
• Announcing its intent to introduce the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. The program will seek to provide loans, including forgivable loans, to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June. Implementation of the program will require a partnership between the federal government and provincial and territorial governments, which are responsible for property owner-tenant relationships. The Government of Canada is working with the provinces and territories to increase rent support for businesses that are most impacted by the pandemic. 

The government will continue to monitor and respond to the wide-ranging impacts of COVID-19, and take additional actions as needed to protect the health and safety of Canadians and stabilize the economy. 

Canada Revenue Agency (CRA) 

The Canada Revenue Agency (CRA) has information on taxes, wage subsidies, the Emergency Care Benefit, the Emergency Support Benefit, Canada Child Benefit payments and credit for farmers.  

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

OTHER SUPPORTS 

Your Local Financial Institution 
It’s a good idea to reach out to the local financial institution that you have been dealing with as a business owner. The Office of the Minister of Small Business, Export Promotion and International Trade has been working with the financial sector to increase their lending capacity 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.   

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. 

*NEW VIDEO: Tips on how to maintain cash flow within your business 
In this new CBDC Southwest video, professional business coach and author Ron Robichaud shares valuable advice about maintaining cash flow for your business. 

The CBDC Southwest information webinar outlines programs offered through CBDC including loans and the Self Employment Benefit Program (SEB).  

Finally, as the COVID-19 situation continues to evolve, please remember that we are here for you. We will continue to update you with the latest support available for you and your small business. Please stay safe; we are all in this together.