CoVID-19 Update & Business Resources

Please take some time to review the following links for up to date information regarding business resources and government programs as they relate to COVID-19.
Leaders from municipal economic development offices, Chambers of Commerce, Employment Services, Community Futures Development Corporations, Small Business Enterprise Centres, Business Improvement Areas and local business support organizations are working together to identify how the impact of COVID-19 will be felt by our business community. We ask that you take the time to complete the following survey.
Survey will be open until Friday, April 3rd at 12 p.m.

Business Survey: COVID-19

COVID-19 - Counties of Leeds and Grenville

Temporary Wage Subsidy

Canadian Emergency Response Benefit

Work Sharing Info.

COVID-19 - Township of Leeds and Thousand Islands Updates

The Federal Government has delivered some welcome news for SMEs across the country. That news included the following announcements: 

• A 75% wage subsidy for qualifying businesses, for up to three months, retroactive to March 15, 2020. This will help businesses to keep and return workers to the payroll. More details on eligibility criteria will start with the impact of COVID-19 on sales and will be shared before the end of the month.
  

 

• Allow businesses, including self-employed individuals, to defer all Goods and Services Tax/Harmonized Sales Tax (GST/HST) payments until June as well as customs duties owed for imports. This measure is the equivalent of providing up to $30 billion in interest-free loans to Canadian businesses. It will help businesses so they can continue to pay their employees and their bills and help ease cash-flow challenges across the country.

 

• The launch of the new Canada Emergency Business Account. This program will provide up to $25 billion to eligible financial institutions so they can provide interest-free loans to small businesses. These loans – guaranteed and funded by the Government of Canada – will ensure small businesses have access to the capital they need, at a zero per cent interest rate, so they can pay for rent and other important costs over the next number of months.

The launch of the new Small and Medium-sized Enterprise Loan and Guarantee program that will enable up to $40 billion in lending, supported through Export Development Canada and Business Development Bank, for guaranteed loans when small businesses go to their financial institutions to help weather the impacts of COVID-19. This is intended for small and medium-sized companies that require greater help to meet their operational cash flow requirements.