Your go-to spot for Business Updates
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Oh, how quickly things change.
Just last week, British Columbia announced their restart plan for reopening the province. A few days later, this is what the beaches in Vancouver looked like.
Park rangers had to issue
nearly 1,900 warnings
that weekend alone. As a result, the Vancouver Park Board decided to delay the reopening of parking lots at beaches and parks.
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On the other hand, Provincial Health Officer and our hero
Dr. Bonnie Henry
stated that the number of warnings reflects that the system is being monitored effectively, and that most were doing the right thing.
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Image credit: Province of British Columbia
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Do the swarms of people make you cringe or is this just the next step in a long process of covid recovery?
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We’re torn. What do YOU think?
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Image credit:
Justin Tang/The Canadian Press
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- Eligibility: Qualifying businesses should have revenues of around $300 million or higher, be seeking financing of roughly $60 million or more, have significant operations in Canada, and must not be involved in active insolvency proceedings.
- Process: The program will be delivered by the Canada Development Investment Corporation (CDEV), in cooperation with Innovation, Science and Economic Development Canada and the Department of Finance.
Trudeau has
expanded the
Business Credit Availability Program (BCAP)
to mid-sized companies. Support for mid-market businesses will include loans of up to $60 million per company and guarantees of up to $80 million.
- Process: Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) will continue to work with private sector lenders to provide access to capital.
- BDC’s Mid-Market Financing Program: will provide commercial loans from $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through government measures. BDC predicts that qualifying companies will have annual revenues in excess of $100 million.
- EDC’s Mid-Market Guarantee and Financing Program: will bring liquidity to companies with revenues of around $50 million to $300 million to sustain their operations. EDC will work with financial institutions to guarantee 75% of new operating credit and cash-flow loans, ranging in size from $16.75 million to a max of $80 million. These expanded guarantees are available to exporters, international investors and businesses that sell within Canada.
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Image credit:
Adrian Wyld/The Canadian Press
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Support for Seniors.
The government has implemented a series of measures to ensure the financial stability of seniors.
Regional funding.
Details on the
Regional Relief and Recovery Fund
have been announced (last month the government promised nearly $1 billion in aid to regional development agencies to help small and remote businesses).
- The Atlantic Canada Opportunities Agency (ACOA); $110 million
- The Canada Economic Development for Quebec Regions (CED); $211 million
- The Canadian Northern Economic Development Agency (CanNor); $34.3 million
- The Federal Economic Development Agency for Southern Ontario (FedDev Ontario); $252.4 million
- The Federal Economic Development Initiative for Northern Ontario (FedNor); $49.5 million
- Western Economic Diversification Canada (WD); $304.2 million
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And…a few
American funding options to note. There’s the Washington Women Entrepreneurs COVID-19 Recovery Fund, with
$5K grants for women-owned businesses; the IFundWomen & GingerBread Capital’s
$10K grants for businesses, as well as this
guide on preserving cash through the pandemic, complete with resources to help you access government aid.
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What's up with the provinces?
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Image credit: Gary Moore/CBC
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Image credit: THE CANADIAN PRESS/Ryan Remiorz
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Life after lockdown
–
International Edition
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It’s looking like no-contact contact will be our saving grace as the global community begins to reopen. What does that mean for life as we know it?
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OUT FOR DINNER
- In the bubble. A Dutch restaurant has begun seating guests in small glass cabins, each big enough for two to three guests. To serve dishes, waiters use a long board to get them into the glass cocoons, wearing gloves and face shields as they do it.
- Fast food gets fancy. Burger King is testing a new app to be trialed in three locations in Milan, Italy. The app will allow customers to order their food, pay and book their table from home. Sit down burgers for one, please!
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AT THE MOVIES
- No human in sight. South Korea is embracing contact-less tech as they bring back the cinematic experience. At one location, human staff are replaced with AI robots, automated kiosks and mobile app services, while snack bars are managed by LED-controlled pick-up boxes that deliver food ordered through the app.
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AT WORK
- Forget the open concept. Thermal scanners, workstations with sneeze guards, packed lunches, staggered work hours, designated entrances and exits – there is a LOT to consider when redesigning office spaces in the age of coronavirus. Safe to say, the cubicle might be making a comeback.
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OFFICIAL CEREMONIES
- Graduation à la robot. Some students at Arizona State University were able to attend their graduation after all. Graduates took turns moving a remote-controlled robot, which held an eye-level display of their face, up to the podium at the university. Through the robot, they approached the Dean, got their diploma and were even able to take a photo.
But it’s really no surprise
with
Michael Crow
as the President of ASU. Long considered a pioneer of online education, Crow is an advocate for transforming the educational model. Check out his book,
Designing the New American University
, to understand why ASU was so apt to realize this innovative solution.
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Is it even an issue of TIPS for TOUGH TIMES if we don’t cover what’s new in leadership? As always, we’re looking at innovative approaches and areas to prioritize through the uncertainty.
Company culture
- actively boost morale.
As the novelty of isolation wears off,
team morale is expected to slump
. Decentralizing leadership, encouraging acceptance over denial and remaining visible are all key parts to a morale boosting strategy.
Diversity & inclusion
– proactive steps to take right now.
Collecting data creates transparency, testing technology catches biases, and viewing complaints as valuable insights can spark positive organizational change. Read on for
effective inclusion strategies
that work.
Productivity
–
intentional
teamwork.
You
don’t want to compromise agility
. Instead, be strategic – consider what form of teamwork and how much is needed at each stage of a project. Do you need coordinated work, synchronized work, interdependent work? Find out
here
.
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A global health crisis can drastically reframe our relationship with contemporary issues. From climate solutions to unemployment, here’s a look at how the virus is shaping new attitudes and realities.
On renewable energy: now is the time. Forbes stresses the need to pivot to renewable energy sources as we transition to a post-pandemic world. Our author makes the environmental AND economic case
here.
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Audio > video.
On Zoom calls, some are finding that
audio alone provides a richer experience
than the inauthentic lags and freezes that come along with a video call. In a nutshell, body language just doesn’t translate.
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Image Cedit: SESTOVIC VIA GETTY IMAGES
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Career on hold. In this
Women at Work podcast, women discuss the career setbacks they’re facing through the pandemic. Answers to questions like why was I in the first round of layoffs? What conversations should I be having to help myself recover?
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Image credit: GEOFF ROBINS/GETTY IMAGES
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Are you ever going to drag yourself to that exercise class again when you know it’s just one click away? Here, we’re taking a look at consumer shifts and what they mean for the future.
Pandecorating. Vox’s term for the current upswing in home design,
pandecorating is taking the world by storm. Home hardware stores are seeing huge sales in paint, fertilizer, bird seed and kids’ crafting supplies.
- In response…marketers are using Pinterest search data to see how these hobbies and interests have shifted through self-isolation. Then, they organize it into four stages of the quarantine consumer mindset: disoriented, worried, restless and rebuilding.
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Image credit: Courtesy of Chasing Paper
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Revolutionizing fitness.
With gyms and fitness clubs coming into the home through video conferencing and tech solutions, the anytime, anywhere model is going mainstream. But consumerization is not the only shift – read on for
5 changes that will shape the fitness industry
over the next decade.
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From Spanish Flu photos to the cast of
The Office on Zoom, here are a few highlights to inspire, amaze, or simply spark curiosity.
Livestream luxury. Escape to some of the
world’s most beautiful hotels with these live hotel cams – from Lake Como to the Maldives, you’re in for a treat.
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Image credit: GRAND VELAS LOS CABOS
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Dunder Mifflin on Zoom.
A couple that emulated the iconic marriage proposal between Jim and Pam from
The Office
was blessed with
a LIVE online performance from the entire cast
. Stars like Steve Carell and Mindy Kaling joined in to recreate the “wedding dance” for the newly engaged pair. Don’t. miss. this.
History in the making.
Historians around the world are asking for residents to submit journal entries recorded during the pandemic to display for future generations. From
Denmark
, to
Washington, D.C
.
,
to right here in
British Columbia!
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Image credit:
Independence_Project/Shutterstock
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Image Credit: GOTHAM / GETTY IMAGES; LEV
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In honour of the first, and hopefully only Covid-19 Mother’s Day, here’s a special edition for the mamas out there.
GroYourBiz member
Daniela Hofmann
received the most powerful card from her 12-year-old daughter Angie this Mother’s Day.
Her message needs no words.
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We echo your sentiment, Angie, and want to say thank you to every mother for the work you do day in, day out. Now if you’ll excuse us, we’ll be looking for a tissue box.
Plus….
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Well folks, that marks the end for week 8.
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But before you go, get out your calendar. Exciting GYB developments are on the horizon and you DON’T want to miss them.
First, guidance on what to do next
. In our
A Taste of GroYourBiz Guelph
session, Chair of Guelph, Ontario
Kristel Manes
along with Eastern Managing Director at GYB
Marg Hachey
will discuss how business peer advisory boards have helped shape and grow companies from all sectors.
We’ve also got our GYB Webinar series. Here’s a recap on the schedule:
- Basics of Customer Retention, May 19th, 2020
- Connecting on a Deeper Level Through Self-Defense, May 21st, 2020
- It's Ok to Make Money, June 3rd, 2020
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While were away
...our
free trial virtual advisory board
has been a smashing success so far with full registrations. Sign up to share your current business challenge with like-minded women leaders – facilitated by our amazing GYB Chairs
Marg Hachey
and
Marla Kott
,
Vania Sakelaris
and
Victoria Eastwood
.
Don’t pass up your chance to join in—we are now taking registrations
here
for May 27, 28
th
and June 23
rd
.
When women leaders put their minds together, true innovation ensues.
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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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