October 14, 2020 Quick Links
![]() Small and Medium Sized Business Recovery Grant Small and medium-sized businesses are vital to British Columbia’s economy. The Small and Medium-Sized Business Recovery Grant program provides fully-funded grants to businesses to ensure they have the support they need during and beyond COVID-19.
How the program works
Grants of $10,000 to $30,000 are available. An additional $5,000 to $10,000 grant is available to eligible tourism-related businesses that have been hit especially hard by COVID-19.
The program runs until March 31, 2021 or until the funds are fully allocated, whichever comes first.
Tourism grant top-up ![]() Government announces new, targeted support to help businesses through pandemic October 9, 2020 - Ottawa, Ontario The Government of Canada took immediate action to help Canadian businesses affected by the global COVID-19 pandemic, from helping keep employees on the job to increasing cash flow and providing support to help pay rent.
While some parts of our economy are recovering, others continue to struggle with reduced revenues, increased costs, and uncertainty because of the COVID-19 pandemic.
That is why today the Deputy Prime Minister and Finance Minister, the Honourable Chrystia Freeland, announced the government’s intention to introduce new, targeted supports to help hard-hit businesses and other organizations experiencing a drop in revenue. The government plans to introduce legislation to provide support that would help these businesses safely get through the second wave of the virus and the winter, cover costs so they can continue to serve their communities, and be positioned for a strong recovery, including:
![]() Free webinars during Small Business Week - October 18th to 24th Export Development Canada: How Indigenous companies can get support for exporting October 15th 10:00am PST
bdc: Forging the way forward: How entrepreneurs are adapting to the pandemic October 19th 11:00am PST
Succeeding in a new reality: Plan your way out of the COVID-19 crisis October 20th 10:00am PST
Success in Times of Crisis: These Entrepreneurs Rule! with Mackay CEO Forums October 21st 9:00am PST
Forging the way forward online: get started with eCommerce with Digital Main Street & Google October 21st 12:00pm PST
Futurpreneur: Trailblazers: Mental Health & Entrepreneurship October 22nd 11:00am PST
Shopify: Retail Entrepreneurs: How to make the holidays count October 22nd at 11:00am PST
Free Talk to an Expert Sessions October 20th
Operations Management for Small Business
Creating Engaging Video Content Using Your Phone
TaxSense During COVID-19
Staying Resilient During COVID-19 October 20th11:00am PST
Market Research: Emerging Trends in Consumer Behaviour
Smart Marketing in a Changing World
Blogging to Promote Your Business
How to Launch Your Product in Today’s World
Ergonomics in the COVID Era: Working from Home and Beyond
Decolonizing, Indigenizing and Reconciling Entrepreneurship
Google Strategies for Your Local Business
Early Stage Financing for Small Business
How to Stay Relevant in Uncertain Times
![]() REQUEST FOR EXPRESSIONS OF INTEREST - Legal and Accounting Professional Services to Support B.C.’s Small and Medium Sized Business Recovery Grant Program The B.C. Small and Medium Sized Business Recovery Grant program is seeking interested parties such as accountants, financial planners, bookkeepers and lawyers to assess the solvency of businesses and help develop recovery plans (template to be provided). Small Business BC matches the business to the service provider who invoices SBBC for reimbursement for services, up to a maximum of $2,000 (including taxes) per grant recipient at their normal hourly rate of up to $250/hour.
If you are one of the professions listed above, can support clients within a two week window, and would like to lend your skills, knowledge and expertise to assisting companies develop their economic recovery plans, and play a part in rebuilding a critical part of B.C’s economy, please submit your interest to Small Business BC by October 15, 2020 @10 p.m. PDT. Late applications will not be considered – no exception. ![]() Economic Study Shows B.C. Forest Industry Has Deep Roots, Builds Strong Communities
A new study conducted by iTotem Technologies Ltd. for the BC Council of Forest Industries (COFI) and released today found that in 2019, COFI member companies purchased $7 billion worth of goods and services from nearly 9,900 B.C.–based companies and Indigenous suppliers located in every region of the province.
“Many people tend to associate the forest industry with rural areas and smaller communities, but this study shows that people working in businesses in urban centres like Vancouver, Surrey, Burnaby, Nanaimo and Kamloops also depend on a strong and vibrant forest industry supply chain,” says Susan Yurkovich, President and CEO, COFI. “This study clearly demonstrates how our forest industry’s deep roots are supporting workers and families right across our province.”
Commissioned in early 2020, the 2019 Regional Supply Chain Study assesses the supply chain spend and reach of 19 COFI member companies. The study found that more than 340 communities and 120 Indigenous Nations and organizations of all sizes benefited economically from the forest industry supply chain, including many Lower Mainland communities. COFI members purchased $2 billion worth of goods and services from 2,100 businesses located across 19 municipalities in Metro Vancouver. Vancouver-based companies were the top recipients of forest industry supply chain spend, with local purchases totalling $978 million.
On Vancouver Island, $1.2 billion worth of goods and services were purchased from 1,600 suppliers, with more than a quarter of them located in Nanaimo. In the North, Prince George was home to 970 forestry suppliers that provided $718 million in goods and services. And more than 550 businesses from Kelowna and Kamloops in the Interior provided a combined $220 million of the forestry supply chain spend. ![]() Call for Speakers 2021 BC Economic Summit
Now is the time to focus on supporting community-based efforts to rebuild strong and resilient economies.
Call for Session Proposals, Virtual Trade Show & Sponsorship package now available!
2021 BC Economic Summit - Economic Revival: Charting a Path Forward for BC Communities #BCEDA21
March 8th to 11th, 2021
How have communities managed the impacts of COVID-19? How are businesses recovering and what role can local, regional, Indigenous, and senior levels of government play in helping? How has the environment changed for office work? Are more people working at home? Is industry looking at growth or retraction? These are all questions that will need to be answered as we prepare our communities to chart a path forward for a healthy and sustainable economic future. ![]() Creating Connections Workshops
Co-operatives First has some upcoming Creating Connections Workshops on October 19 and November 18!
Ec Dev in Action Profiling economic development success in BC's communities
Shuswap Indian Band and District of Invermere sign Friendship Agreement Salt Spring residents have access to a one-stop shop for COVID-19 info Downtown New West BIA's pandemic efforts recognized Hope business walk goes virtual BCEDA is continuing to seek success stories to highlight on the Economic Development in Action website. The website is advertised internationally and used as a tool to market your community and attract international investors. Economic Developers can use the website to collaborate on ideas and gain inspiration from others. We a looking for a brief summary of your successful projects, partnerships and initiatives.
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