COVID-19 Help & Resources

COVID-19 Help & Resources – Quick Assistance Overview

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 3Saskatchewan Businesses – very good cheat sheet here https://innovationsask.ca/technology/covid19
Step 4Saskatchewan 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

Quick Summary of Major Programs

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

 

Jeff Shirley