March 18, 2020
Together We Can
The Stettler Regional Board of Trade & Community Development, in partnership with Stettler Regional Emergency Management Agency, will be collecting emergency information from businesses along with details on their current situation to help share resources and prepare for recovery. 
At this time we are asking our local businesses making any operational changes to please submit the following form:  https://www.stettlerlocal.com/covid-19-business-updates

Utilizing this form not only assists us but allows your customers to still access your goods and services.

If you are planning on making more drastic changes such as closures (whether they are temporary or permanent) or changes in employment we ask that you please notify us as soon as possible.

We are doing our best to mitigate the economic effect our amazing local businesses are currently facing however we do need your help by communicating with us.

Please call us at 403-742-3181 or email info@stettlerboardoftrade.com with any and all relevant information.


BUSINESS RESOURCES
Please watch our Facebook Page for updates
From the Conference Board of Canada:
Advice for employers dealing with COVID-19

We are living through unprecedented times. Although the risk to most Canadians from coronavirus (COVID-19) remains low, public health officials are taking extraordinary steps to control the spread of the virus —asking everyone to avoid unnecessary travel outside their homes, closing the borders to non-residents, and shuttering places where groups of people gather. The impact to organizers is unquestionable, and the time to act is now.

Join our free webinar on March 19, 2020 at 12:00 pm Mountain Time. 

Now employers need to know the legal framework related to the steps that they need to take stemming from government declarations and the spread of the virus. In this 30 minute webinar, Andrew Shaw and Shyama Talukdar, employment lawyers from Baker McKenzie LLP, will help you understand your obligations and provide practical advice on workplace health and safety and employment law issues, including the need to ensure compliance with human rights and privacy laws. 
 
This timely conversation will help leaders navigate the global COVID-19 crisis. 
 
Register  here .
From the Canadian Chamber of Commerce

Facebook Webinar: How to Keep Your Employees Informed and Connected During a Crisis

Thursday March 19, 10am PDT. Sign up here .
From Facebook:
Business Resource Hub

Managing through and building resilience during the COVID-19 outbreak.

At Facebook, we’re working to keep people safe and informed about the recent outbreak of COVID-19. We know that as members of the communities you serve, businesses like yours may also be experiencing unexpected challenges, and we’re committed to providing as much support as possible.

Find out more here .

Business Operational Changes
Rairdan Services has built a page on stettlerlocal.com for businesses to post their operational changes. This will give the community a way to check up on numerous local businesses at once.


For Not-For-Profits

Rairdan Services is offering not for profits and charities to register for StettlerGives.com for no cost right now. By creating a page on the site assistance can be given to recruit volunteers for these groups and help advertise their volunteer openings.
Business Continuity

If you are currently stuck at home this may be a good time to think about what your business will look like going forward.

Please see the following link from the City of Calgary for a template on Business Continuity Planning. This is an important process utilized in the creation of systems for the economic recovery of our local businesses.
GENERAL INFORMATION
News From the Government of Canada

Support for Businesses
The Government of Canada is taking immediate, significant and decisive action to support Canadian businesses facing financial hardship as a result of the COVID-19 pandemic.

On March 13, 2020, Minister of Finance Bill Morneau, Governor of the Bank of Canada Stephen Poloz, and Superintendent of Financial Institutions Jeremy Rudin outlined a coordinated package of measures to support the functioning of markets, the resilience of our financial sector, and continued access to financing for Canadian businesses. These actions will significantly increase the availability of credit to businesses of all sizes, sustain liquidity in key financial markets, and provide flexibility to businesses experiencing hardship.
On March 18, 2020 the government and its partners announced further measures to support businesses. These actions are part of Canada’s whole-of-government response to COVID-19, and the significant stimulus program developed to stabilize Canada’s economy, support businesses and to protect Canadians.

Supporting Canadian Business through the Canada Account
The government is changing the Canada Account so that the Minister of Finance would now be able to determine the limit of the Canada Account in order to deal with exceptional circumstances. The Canada Account is administered by Export Development Canada (EDC) and is used by the government to support exporters when deemed to be in the national interest. This will allow the government to provide additional support to Canadian companies through loans, guarantees or insurance policies during these challenging times.

Helping Businesses Keep their Workers
To support businesses that are facing revenue losses and to help prevent lay-offs, the government is proposing to provide eligible small employers a temporary wage subsidy for a period of three months. The subsidy will be equal to 10% of remuneration paid during that period, up to a maximum subsidy of $1,375 per employee and $25,000 per employer. Businesses will be able to benefit immediately from this support by reducing their remittances of income tax withheld on their employees’ remuneration. Employers benefiting from this measure will include corporations eligible for the small business deduction, as well as non-profit organizations and charities.

Flexibility for Businesses Filing Taxes
The Canada Revenue Agency will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period. 
The Canada Revenue Agency will not contact any small or medium (SME) businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

The Liaison Officer service offers help to owners of small businesses to understand their tax obligations. Traditionally available in-person, this service is now available over the phone and will be customizing information during these challenging times by ensuring small businesses are aware of any changes such as filing and payment deadlines, proactive relief measures, etc.

Ensuring Businesses Have Access to Credit
The Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses. This will be an effective tool for helping viable Canadian businesses remain resilient during these very uncertain times. BDC and EDC are cooperating with private sector lenders to coordinate on credit solutions for individual businesses, including in sectors such as oil and gas, air transportation and tourism. The near term credit available to farmers and the agri-food sector will also be increased through Farm Credit Canada.

The Office of the Superintendent of Financial Institutions (OSFI) announced it is lowering the Domestic Stability Buffer by 1.25% of risk-weighted assets, effective immediately. This action will allow Canada’s large banks to inject $300 billion of additional lending in to the economy.

The Bank of Canada also took a series of actions to support the Canadian economy during this period of economic stress, enhance the resilience of the Canadian financial system, and help ensure that financial institutions can continue to extend credit to both households and businesses. This included cutting the interest rate to 0.75% as a proactive measure in light of the negative shocks to Canada’s economy arising from the COVID-19 pandemic and the recent sharp drop in oil prices.

Supporting Financial Market Liquidity
As a further proactive and coordinated measure to bolster the financial system and the Canadian economy, the government announced on March 16 that it is launching an Insured Mortgage Purchase Program (IMPP). Under this program, the government will purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation (CMHC). This action will provide long-term stable funding to banks and mortgage lenders, help facilitate continued lending to Canadian consumers and businesses, and add liquidity to Canada’s mortgage market. Details of the terms of the purchase operations will be provided to lenders by CMHC later this week.
The IMPP enhances the already substantial set of measures announced on March 13 to support the economy and the financial system. CMHC stands ready to further support liquidity and the stability of the financial markets through its mortgage funding programs as necessary.

Further, the Bank of Canada has announced that it will adjust its market liquidity operations to maintain market functioning and credit availability during the current period of uncertainty in which conditions are evolving rapidly.
The Bank of Canada also announced that it will broaden eligible collateral for its term repo facility to include the full range of collateral eligible under the Standing Liquidity Facility, with the exception of the non-mortgage loan portfolio. This expansion of eligible collateral will provide support to funding conditions for financial institutions by providing a backstop to regular private funding.

The Bank also announced that it stands ready, as a proactive measure, to provide support to the Canada Mortgage Bond (CMB) market so that this important funding market continues to function well. This would include, as required, purchases of CMBs in the secondary market. Similar to the  increase in Government of Canada bond buybacks , this will support market liquidity and price discovery.


Employment rules changes

We're acting quickly to protect Albertans by implementing paid, job-protected leave. Details of how these changes will take effect will be provided in the coming days.
Changes to the Employment Standards Code will allow employees to take 14 days of paid, job-protected leave if they are:
  • required to self-isolate
  • sick or caring for a loved one with COVID-19
To be eligible, employees:
  • will not be required to have a medical note
  • do not need to have worked for an employer for 90 days
This leave covers the self-isolation period recommended by Alberta’s chief medical officer. We recognize this could put pressure on employers, and are working towards a solution to address these challenges. 
 
The leave does not apply to self-employed individuals or contractors

Business continuity plans

Employers should consider their business continuity plans and how COVID-19 could impact their workplace. To prepare, make plans to:
  • protect employees
  • limit spread in workplaces
  • ensure continuity of critical services if staff are ill or self-isolating
  • explore alternate working arrangements, such as:
  • working from home or remotely
  • doing work that doesn't require contact with other people
 
 
Employment Insurance

Employment Insurance (EI) sickness benefits provide up to 15 weeks of income replacement and is available to eligible claimants who are unable to work because of illness, injury or quarantine, to allow them time to restore their health and return to work. Canadians quarantined can apply for Employment Insurance (EI) sickness benefits.
 
Find more information  here .
 
 
Restaurant Seating Capacity & Changes
 
Effective immediately and until further notice, the Alberta government is implementing additional measures, including cancelling events that have more than 50 people.
Please note the important change for our local food service businesses:
• Sit-down restaurants, cafés, coffee shops, food courts and other food-serving facilities, including those with a minors-allowed liquor license, are limited to 50 per cent capacity to a maximum of 50 people. Take-out, delivery or drive-through service is permitted. Licensed facilities will also be permitted to deliver liquor.
  • Albertans are prohibited from attending buffet-style restaurants. At this time, not-for-profit community kitchens, soup kitchens and religious kitchens are exempt, but sanitization practices are expected to be in place and support will be in place for this practice.
  • Food services in work camps are also exempt, but in addition to appropriate sanitization practices, arrangements should be made to provide for workers if they are self-isolated.
 
 
Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19

TORONTO, March 17, 2020 - Canada’s six largest banks today announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.
 
Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID-19; childcare disruption due to school closures; or those facing illness from COVID-19.
 
This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.
 
Individual Canadians or business owners facing hardship are encouraged to contact their bank directly to discuss options that could be available to them.
 
These measures are an important first step and underscore the resilience of Canada’s financial system and the strength of our major banks. Banks will monitor evolving economic conditions and consider other measures if necessary.
 
Canada’s banks have a long history of standing by Canadians through challenging times and this commitment will continue throughout this crisis and beyond.
 
For more information, please refer to  rbc.com .
 

Border Crossing

Canada and the United States have agreed to restrict non-essential travel across the border, as both countries try to slow the spread of the novel coronavirus.

Trudeau said both sides agreed to preserve supply chains, which ensure that food, fuel and life-saving medicines reach people on both sides of the border.  

"Supply chains, including trucking, will not be affected by this new measure," he said. "Canadians and Americans cross the border every day to do essential work, or for other urgent reasons, that will not be impacted."



On the Calling All Suppliers - Help Canada Combat COVID-19 page posted on the Buyandsell.gc.ca site, businesses are asked to provide information about products and services they can supply in support of Canada’s response to COVID-19.
A list of suggested products and services is provided and businesses can fill out and submit an electronic form  with their information on these or other products and services that may be relevant. As this page will continue to be updated, businesses are encouraged to check back for new information that may be posted. Thank you in advance for your assistance in sharing this information as widely as possible in your supplier community.
To help you to stay alert on what is happening in your region, the Canadian Chamber of Commerce has gathered some information sites from across the country that you can bookmark for updates on the COVID-19 virus.

Sign up for the newsletter here .