An Update from us on COVID-19 Supports
- March 27, 2020
A WIN for Chambers and Businesses:
Federal Government Increases Wage Subsidy to 75%
The Prime Minister, Justin Trudeau,  today announced additional new measures  to support small businesses dealing with the economic impacts of the pandemic. These measures will help Canadian businesses protect the jobs that Canadians depend on, and pay their workers and bills during these difficult times.
 
To further support small businesses, the Government of Canada:
 
·           Announced a 75 per cent wage subsidy for qualifying businesses, for up to 3 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.

·           Launch 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 that 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.

·           Launch 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. Background Information
 
REMINDERS:
 
The Canada Border Service Agency’s Border Information Service (BIS) is now accessible 24/7. For the most up-to-date information related to cross border travel and business, please call 1-800-461-9999.
 
We will get through this by working together. If you are a Canadian manufacturer or business that can assist Canada in meeting the need for medical supplies, your help is needed. Please visit  this website  to learn more and submit a proposal.
New From The PEI Government -

It has expanded the  PEI Broadband Fund  to include coverage for mi-fi units and boosters to help support working-from-home arrangements where access to high-speed internet remains a challenge 

Provincial programs
Up to $500/week for self-employed Islanders with a significant or total loss of income between March 16-31, 2020

$250 weekly allowance for workers with a significant reduction in hours but not laid off between March 16-31, 2020
Applications come from the employer and then can be distributed to staff through regular payroll.

$100 Sobeys Gift Card (electronic) for workers laid off between March 13-31, 2020.
Applications come from the employer and then can be distributed to workers.

Up to $100,000 in financing; 12 month deferral on payments; 4% for 5 years
 
Federal programs
Please refer to the email list sent out earlier today or click HERE to view.

For reduced employee hours, the  EI- Work Sharing Program   and  EI- Working while on claim    may be options.

You can subscribe to the provincial news releases here:   https://www.princeedwardisland.ca/en/service/subscribe-to-government-subscription-service
ACOA Minister Joly Commits to Work with Chambers of Commerce
 
During an open conference call on March 26, the Honourable Mélanie Joly, Minister Economic Development and Official Languages committed to maintain communication with Atlantic chambers of commerce and  urged local chambers to inform her and local MPs  of concerns regarding emergency economic plan operation and gaps.
 
She committed to repeat this personal connection to the chamber network and assist chambers in providing membership with reliable information. She indicated that ACOA is and will do its utmost to assist businesses navigate the various federal programs and provide the supports needed to sustain businesses during this unprecedented social and economic challenge.
 
Notes and a recording of the conference call was distributed to all ACC members by email today.
Take The Kensington and Area Chamber of Commerce COVID-19 and YOUR BUSINESS Survey
Just a few clicks and you are done. Share your thoughts on how COVID-19 is affecting your business.

Reminder that this survey closes Sunday, March 29, 2020 at 11:59 pm. Survey results will be shared.
In 2019, 91% of Canadian businesses
reported being impacted by cyber threats

As a result of COVID-19 more people are working from home and many businesses have switched to online operations. It's now more important than ever that we remain vigilant against phishing scams and other malicious cyber attacks.

CIRA , the non-profit that runs the .CA web domain, is providing a hands-off service where you and your members can register employees for year-round cyber security training. All you or your members have to do is register and add your staff - CIRA will do the rest. 

How to sign up
To get started, visit  cira.ca/chamber  where you can learn more. A CIRA representative will help you understand your cyber risks and will explain how this service works.
For more information, please check out our website at: