CENTRE WELLINGTON CHAMBER OF COMMERCE PROVIDES COVID-19 GOVERNMENT AND BUSINESS SUPPORT UPDATES |
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Provincial State of Emergency and Stay-at-Home Order extended to February 9
The Ontario government issued a stay-at-home order for the province which took effect on January 14, and declared a second state of emergency. It was announced on January 25 that Ontario has extended the declared provincial emergency and all orders currently in force under the Emergency Management and Civil Protection Act until February 9, 2021. This includes the stay-at-home order which requires everyone to remain at home with exceptions for essential purposes.
It continues to be extremely difficult for the businesses and residents of our community. These are challenging times and it is critical that we work together collectively to combat COVID-19. Better days are on the horizon as the COVID-19 vaccinations ramp up across Ontario. We continue to encourage you to support the local business community in any way that you can.
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Ontario Economic Report released
Yesterday, the Ontario Chamber of Commerce (OCC) released the fifth annual Ontario Economic Report (OER), providing the latest data on Ontario’s economy and business confidence, highlighting the unprecedented year that was 2020 and the unpredictability that lies in the year ahead.
Small business members are the least confident in the province’s economy, as they continue to face unprecedented liquidity constraints, increased costs, and reduced revenues. The Ontario Economic Report includes the reality that the hardest-hit sectors were those requiring considerable face-to-face contact. Those that we have many of in our community: accommodation and food services; arts, entertainment, and recreation; and retail. It also reveals that employment growth declined throughout the province. There is not a region in the province that has not felt the impacts, though some considerably more than others. 2021 will be a year filled with challenge as we continue to fight and try to bounce back.
Click here to view the interactive report.
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Funding announced for Highly Affected Sectors
The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, announced the launch of the Highly Affected Sectors Credit Availability Program, or HASCAP. HASCAP will provide financial support to businesses that have been hardest hit by the pandemic. HASCAP is available to businesses across the country, in all sectors, that have been hit hard by the pandemic. This includes restaurants, businesses in the tourism and hospitality sectors, and those that rely on in-person service.
Download the HASCAP one-pager reference sheet here.
Through HASCAP, the Business Development Bank of Canada (BDC) will work with participating Canadian financial institutions to offer government-guaranteed, low-interest loans of up to $1 million. These loans are for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of COVID-19.
To be eligible for HASCAP, businesses need to show a year-over-year revenue decline of at least 50% in three months, within the eight months prior to their application. They must also be able to show their financial institutions that they have previously applied for either the CEWS or the CERS.
Eligible businesses can start applying as early as February 1. Interested businesses should contact their primary lender to get more information and to apply. More information is available at www.bdc.ca/hascap.
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Tourism Adaptation & Recovering Program
We want to help your tourism business re-open and remain open.
Elora Fergus Tourism, in partnership with RTO4 and the County of Wellington, is proud to implement the Tourism Adaptation and Recovery Program. The program is meant to help small and medium sizes enterprises (SMEs) and not-for-profits (NFPs) in the arts, culture and tourism sector by supporting one-time adaptation and re-opening costs incurred to continue operating post Covid-19.
Two streams are available (click headings for details)
Eligible businesses and organization are encouraged to apply by February 1, 2021 11:59 p.m.
Tourism Adaptation and Recovery Program Application: Click here.
Technology Investment Program Application: Click here.
For more information about this program please contact
Karen Mitchell, Tourism Project Manager, Regional Tourism Organization 4, 519-271-7000 Ext 102,
or Jana Burns, Wellington Place Administrator, County of Wellington, 519-837-2600 Ext 5222
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Centre Wellington Chamber of Commerce
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