Please remember to stay smart and follow the guidelines put in place.

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PROVINCIAL UPDATE

COVID-19 Programs Open for Application: Workspace Adaptation Assistance Program (applications now open) Essential Workers Earning $3000 or less per month Business Adaptation Advice Program (open until July 31, 2020) Broadband Fund for Businesses Commercial Lease Rent Deferral Program (landlords must have registered with Finance PEI by April 20, 2020) Emergency Working Capital Financing Employee Gift Card Program Fisheries Interest Relief Program Post-Secondary Student Program (Employer Applications can be submitted until May 31, 2020) Property Tax Relief Measures Due to COVID-19 Tourism Assistance Loan Program Tourism Interest Relief Program COVID-19 Operational Plan Template

FEDERAL UPDATES

COVID -19 Economic Response Programs Available HERE

Prime Minister announces expansion of support for workers and small businesses

announced an expansion to the eligibility criteria for the Canada Emergency Business Account (CEBA) to include many owner-operated small businesses. This extended measure will help small businesses protect the jobs that Canadians rely on.  To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 would need: a business operating account at a participating financial institution a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return. eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance. Read full details HERE

Support for Women Entrepreneurs On Saturday , Minister Ng announced that the Government of Canada will provide $15 million in additional funding to support women entrepreneurs through the  Women Entrepreneurship Strategy   (WES). This money will go directly to select organizations that are currently  WES Ecosystem Fund  recipients and will help women entrepreneurs through the COVID-19 pandemic.   In the coming weeks, this investment will help thousands of women entrepreneurs and business owners navigate this crisis. It will help ensure women across the country—whether they're a restaurant owner in Campbellton, New Brunswick, a manufacturer in Prince George, British Columbia, or a retailer in Rankin Inlet, Nunavut—get the support they need through things like business workshops, mentorship and skills training to adapt to a digital marketplace.   Empowering women-owned businesses across Canada remains a key priority, and the government will continue working hard to ensure women entrepreneurs are supported through the pandemic and into the economic recovery.

Friday, May 15, 2020 Minister Lebouthillier  announced  that benefit payments – specifically GST/HST credit and the Canada Child Benefit – will continue for an additional three months for those who are not able to file their 2019 tax returns on time.

Friday, May 15, 2020 Minister Ng spoke to Phil Hogan , European Union Trade Commissioner, about working together to support our businesses and workers amid COVID-19. The Minister also underscored the importance of improving EU market access for Canadian agricultural products and removing technical barriers to trade.

OTHER ITEMS OF INTEREST

In an effort to support employers and workers, the Workers Compensation Board (WCB) is announcing a further deferral of assessment due dates related to 2020 employer payrolls until September 30, 2020. Read the News Release HERE

ADDITIONAL RESOURCES:

Atlantic Canada Chamber of Commerce Canadian Chamber of Commerce ACOA CBDC Innovation PEI