Your go-to spot for Business Updates
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Our hearts are heavy as we mourn the tragedy that occurred in Nova Scotia last weekend. Words cannot begin to describe the immeasurable loss that this community has suffered. We send our thoughts, our prayers and our love as the nation grieves.
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Nova Scotia Strong - Canadian cartoonist Michael De Adder captures the grief felt after the mass shooting.
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Each flag honours one of the 22 lives lost in the Nova Scotia shooting.
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You can show your support and solidarity for Nova Scotia by wearing the Province’s iconic blue and green tartan – it is a symbol of unity and a reminder that we are stronger together.
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As always, Federal updates first
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Beginning with a
change in eligibility
for the
Canada Emergency Business Account (CEBA)
to help smaller businesses. Now, Businesses that paid between $20,000 and $1.5 million in total payroll in 2019 are eligible, as opposed to the previous range of between $50,000 and $1 million.
Canada has also announced
$9 billion in support for students and recent graduates
- The Canada Emergency Student Benefit – this will provide $1,250 per month for eligible students or $1,750 per month for eligible students with dependents or disabilities.
- The new Canada Student Service Grant will provide up to $5,000 to students who carry out national service to serve their communities. The funds will be put towards the students’ education in the fall.
- They will also expand existing federal employment, skills development, and youth programming to create up to 116,000 jobs, placements, and other training opportunities to help students find employment and develop their skills.
They’re
setting up a
$350 million
Emergency Community Support Fund
,
which will help charities and non-profits. The funds will support activities like increasing volunteer-based home deliveries or helping vulnerable Canadians access benefits.
Further, the Federal Government has announced
their intent to introduce
a
Canada Emergency Commercial Rent Assistance (CECRA)
for small businesses. The program would provide loans (including forgivable ones) to commercial property owners who in turn lower or forgo the rent of small businesses for the month of April (retroactive), May and June.
Targeted Funding for Organizations -
Trudeau has announced a series of measures designed to keep businesses, non-profits, and entire industries afloat.
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And some key Provincial notes...
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Frozen tax rates.
Education property tax rates will be frozen
at last year’s level and will
not
reflect the 3.4% population and inflation increase that was added in Budget 2020. In addition, collection of non-residential education property tax for businesses will be deferred for 6 months.
Payment deferrals.
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Commercial Property Tax Reduction.
The Province of British Columbia is reducing most commercial property tax bills by an average of 25%. They are also postponing the date that late payment penalties apply for many commercial properties.
More details are available here
.
Small Business Support Service.
The B.C. government has launched a
small business support service
. Operated by Small Business BC (SSBC), it will act as a “one-stop resource” to answer questions about
what kind of supports are available
from both the provincial and federal governments, as well as industry and community partners.
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Corporate Tax Credit
. The Ontario government is proposing a
Regional Opportunities Investment Tax Credit
. This 10% refundable credit would be available for private, Canadian-controlled corporations making qualifying investments that become available for use on or after March 25, 2020 (in specified regions of Ontario).
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Support for essential workers.
The Québec government is offering financial assistance to those working essential jobs, whereby they will
provide $100 for each week of qualifying work
beginning on March 15, 2020 (for a max of 16 weeks).
Plus…
the Province has an online tool where Québec businesses can check which financial supports they are eligible for.
You can find it here
.
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Small Business Support
. The government of Saskatchewan is introducing the
Saskatchewan Small Business Emergency Payment
Program (SSBEP), which provides funding for small businesses impacted by government public health orders related to COVID-19. Businesses will receive a payment, which will be paid based on 15% of a business’ monthly sales revenue in either April 2019 or February 2020, to a maximum of $5,000.
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As the economic situation changes rapidly, so do the strategies for success. Read on for this week’s roundup of critical insights for crisis management through the pandemic.
Navigate contractual relationships.
Download this extremely detailed report
for insights into a critical question facing businesses through the pandemic: how to manage contractual relationships in the face of disruption.
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And to help you digest all of this info….
Popular
meditation app Headspace is launching their
Headspace for Work collection, with meditations, articles and a webinar designed to help those in the workplace lead with kindness and understanding through the pandemic.
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Learn from the successes of others – when we know better, we do better.
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Struggling with perfectionism? This article discusses the need for agile leadership in times of crisis. Read on to explore the merits of
compassion over empathy, selflessness over ego
, and framing your leadership work as a series of small sprints.
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Move beyond the ‘visionary’ leader. Understand the
limitations of visionary leadership
and embrace what our author terms ‘holding’: a way of containing and interpreting the events around you during times of uncertainty.
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The
How-To Series: Life at Home
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From the practical to the proactive, here are some excellent how-to guides for optimizing life at home.
How to stay sharp at your home office.
Feeling that quarantine fog?
Try freewriting, visualizing and time tracking to keep yourself innovative and creative.
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Image credit: Westend61 | Getty Images
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How to thrive in close quarters. A Navy SEAL (and Entrepreneur) teaches us how to
apply the R.E.M.O.T.E. approach to life in isolation, a strategy designed to help Navy SEALS live in small, isolated submarines. As he puts it, it will transform your quarantine experience.
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Image credit: 10'000 Hours | Getty Images
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How to disinfect yourself, your home & your things. Here is a
guide on how to properly clean & disinfect
. You’ll find answers to questions like should I sanitize my mail or does the laundry machine work to disinfect clothes?
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How to keep the kids busy.
Another activity book has been released by the Mothers Matter Centre. This Week 4 schedule has great activities for all hours of the day (for children and parents both!).
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How to take care of yourself. Here are some tips for
pampering at home
(including tidying your relaxation space, aromatherapy, scalp scrubs, face peels, foot soaks & CBD creams).
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Business in the front, party in the back
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Following official mullet guidelines, we’re ending this week with our own version of ‘party’. Find funny poems, upcoming events, noteworthy perspectives and some great channels to follow.
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Jacoblund/iStock, via Getty Images
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While we’re away…
don’t forget our
free trial virtual advisory board
. Sign-up to share your current business challenge with like-minded women leaders – facilitated by our amazing GYB Chairs Marg Hachey and Marla Kott.
Sorry April is full, but we are now taking registrations for May 14, 20, 27, and 28.
Click the link here to register.
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Can’t wait to see you back here next week.
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#togetherathome #togetherweshare #togetherstrong
#excelsior
GroYourBiz Ltd.
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Let us know what you thought of this week's newsletter!
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