Resources for Business During COVID-19 Crisis: 3/18/2020
| Fort Nelson & District Chamber of Commerce working for Business & Community |
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| Resources for Business During COVID-19 Crisis |
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COVID-19: Business Resilience
BC Chamber COVID-19 Business Impact Survey
The survey already has over 5000 responses and the BC Chamber is providing the province with real time information. Survey is only open until the end of the day. If you haven't filled it out please do so by copying and pasting this link into your browser:
https://www.bcmindreader.com/c/r/covid-impact-survey-2020-chambers
Watch for new surveys that will be coming out to update business concerns around COVID-19 and use the information to inform government
BC Chamber link: RESOURCES FOR BUSINESSES AFFECTED BY COVID-19
NRRM & Northern Health Information
Northern Rockies Regional Municipality has a dedicated webpage to provide local information on COVID-19 https://www.northernrockies.ca/EN/main/residents/emergency-safety-services/coronavirus-covid-19-updates.html
Northern Rockies Regional Municipality Utility and Receivables Late Charges have been waived. They are requesting residents contact them by phone 250-774-2541 or email justask@northernrockies.ca where possible and avoid coming to the office in person.
Also watch the NRRM facebook page
Northern Health has launched a COVID-19 Online Clinic and Information Line to help answer questions and concerns from Northern BC residents. The NH COVID-19 Online Clinic and Information Line can be reached at 1-844-645-7811
Provincial Resources
BC Economic Development Association
COVID-19 Planning - Resources - Recovery: Tools for Business
https://bceda.ca/coronavirus.php
BC Centre for Disease Control - COVID Care
BC COVID-19 Symptom Self-Assessment Tool
Canada’s COVID-19 Economic Response Plan
The link below provides up to date information on Canada's response to COVID-19 and outlines all aid and support programs
https://www.canada.ca/en/department-finance/economic-response-plan.html
As of March 18th, 2020 Support Programs include: (see the link above for details)
Temporary Income Support for Workers and Parents
For Canadians without paid sick leave (or similar workplace accommodation) who are sick, quarantined or forced to stay home to care for children,
Longer-Term Income Support for Workers
For Canadians who lose their jobs or face reduced hours as a result of COVID-19’s impact, the Government is Introducing an Emergency Support Benefit and Implementing the EI Work Sharing Program,
Income Support for Individuals Who Need It Most
For over 12 million low- and modest-income families, who may require additional help with their finances, the Government is proposing to provide a one-time special payment by early May 2020 through the Goods and Services Tax credit (GSTC).
Flexibility for Taxpayers
In order to provide greater flexibility to Canadians who may be experiencing hardships during the COVID-19 outbreak, the Canada Revenue Agency will defer the filing due date for the 2019 tax returns of individuals
Mortgage Default Management Tools
The Canada Mortgage and Housing Corporation (CMHC) and other mortgage insurers offer tools to lenders that can assist homeowners who may be experiencing financial difficulty. These include payment deferral, loan re-amortization, capitalization of outstanding interest arrears and other eligible expenses, and special payment arrangements.
The Government, through CMHC, is providing increased flexibility for homeowners facing financial difficulties to defer mortgage payments on homeowner CMHC-insured mortgage loans. CMHC will permit lenders to allow payment deferral beginning immediately.
Support to 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.
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 installments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.
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.
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).
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The pages noted above will continually update information for individuals and businesses
so please keep them handy.
Follow the guidelines regarding personal protection and social distancing.
Get reliable information from the sources noted above & look out for others who may be vulnerable.
If the news and social media are making you anxious - Take a break! |
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Fort Nelson Visitor Center & Chamber Offices
will remain closed to the public.
Contact by phone 250-774-2956 or email
info@fortnelsonchamber.com
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