We are fortunate to live in Canada, even more so to live right here in Saskatchewan. Assistance for businesses and individuals has continued to develop and be announced as the dynamic and unpredictable effects of COVID-19 continue to change our normal lives.
While nothing is perfect, programs are being designed and announced in days, where typically each one of these would take many months to validate and pass through levels of approval. Our own experience has been one of confusion, meetings with accountants, meetings with government, video conferences with venture capitalists, and working our way through the options to see if we qualify for any of the programs. While there are many great resources, it is complicated to figure out where to start, and many programs have precedence on others, or ceilings, or eligibility constraints.
There are more than 20 programs to apply for as of April 22, 2020. Please use the following five links to get started:
Step 1: Start Here (Federal): | https://www.canada.ca/en/department-finance/economic-response-plan.html | |
Step 2: Young Entrepreneurs | https://www.futurpreneur.ca/en/2020/covid-19-resources-for-small-businesses/ | |
Step 3: Saskatchewan Businesses - very good cheat sheet here | https://innovationsask.ca/technology/covid19 | |
Step 4: Saskatchewan Government | https://www.saskatchewan.ca/government/health-care-administration-and-provider-resources/treatment-procedures-and-guidelines/emerging-public-health-issues/2019-novel-coronavirus/covid-19-information-for-businesses-and-workers/saskatchewan-small-business-emergency-payment-program#eligibility | |
Step 5: Canadian Digital Media Network - great summary here | http://cdmn.ca/covid-19 |
Name | Taxable | Known as | Applies to (Individual / Business) |
Canada Emergency Response Benefit | Yes | CERB | Individual only, self-employed |
Canada Emergency Wage Subsidy | CEWS | Business Only, T4 payroll | |
10% Temporary Wage Subsidy | CTWS | Business Only, T4 payroll | |
Work Sharing Program | WSP | Business Only, T4 payroll | |
Canada Emergency Business Account | Loan 0% | CEBA | Business Only, T4 payroll |
Canada Emergency Commercial Rent Assistance - COMING SOON | Loan | CECRA | Commercial Property owners |
Business Credit Availability Program | Loan | BCAP | Business Only, incorporated |
Regional Relief Recovery Fund | Loan? | RRRF | Business / Community |
Canada Student Jobs - CHANGES UNDERWAY | CSJ | Businesses Hiring Students | |
IRAP - innovation DEADLINE APRIL 29 | IRAP | Businesses In Innovation & Tech | |
Futurpreneur | ? | Young Entrepreneurs | |
Significant Changes | |||
GST / Duty Tax remittance delay for SMB | |||
Business Tax installments deferred | |||
Reduced RRIF withdrawals by 25% for 2020 | |||
Child Care benefit | CCB | Family | |
GST Benefit | GST | Individual / Family | |
Saskatchewan Specific | |||
Saskatchewan Small Business Emergency Payment | SSBEP | Business | |
Saskatchewan Self Isolation Support Program | Individual |
Jeff Shirley
Founder & CEO
@jhshirley on Twitter
Copyright © 2024 - All Rights Reserved