October 14, 2020

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Resources for Businesses

 

Tools Include:

  • Operational Plan Template
  • Resources for Businesses Document
  • Business Restart Survey
  • Province-Wide Shop Local Program
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Quick Links

  • Support rural tourism with TIAC's #ElevatingCanada workshops
  • CGLCC Webinar: Navigating LGBT+ Diversity and Inclusion in the Tourism Industry
  • MDB Insight: Implications Of COVID-19 On Entrepreneurship and Innovation
  • BC Agri-Food and Seafood Market Development Program Applications Now Open
  • New consumer confidence campaign launched to support Restoring Confidence for Diners in BC Restaurants
  • VEC Webinar: A Conversation on Cross-Border Investment into Vancouver, Canada
  • B.C. adds 55k jobs in September as education work materializes
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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 
The Small and Medium-Sized Business Recovery Grant program will invest up to $300 million in targeted financial support for some of the hardest hit businesses in B.C. that employ between two and 149 B.C. residents and have experienced declines in revenue since March 10, 2020.

 

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
Tourism-related businesses can qualify to receive up to an additional $10,000 grant if they meet all the general eligibility criteria and the tourism grant eligibility criteria.

Determine your eligibility & Read more

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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:

  • The new Canada Emergency Rent Subsidy, which would provide simple and easy-to-access rent and mortgage support until June 2021 for qualifying organizations affected by COVID-19. The rent subsidy would be provided directly to tenants, while also providing support to property owners. The new rent subsidy would support businesses, charities, and non-profits that have suffered a revenue drop, by subsidizing a percentage of their expenses, on a sliding scale, up to a maximum of 65 per cent of eligible expenses until December 19, 2020. Organizations would be able to make claims retroactively for the period that began September 27 and ends October 24, 2020.
  • A top-up Canada Emergency Rent Subsidy of 25 per cent for organizations temporarily shut down by a mandatory public health order issued by a qualifying public health authority, in addition to the 65 per cent subsidy. This follows a commitment in the Speech from the Throne to provide direct financial support to businesses temporarily shut down as a result of a local public health decision.
  • The extension of the Canada Emergency Wage Subsidy until June 2021, which would continue to protect jobs by helping businesses keep employees on the payroll and encouraging employers to re-hire their workers. The subsidy would remain at the current subsidy rate of up to a maximum of 65 per cent of eligible wages until December 19, 2020. This measure is part of the government’s commitment to create over 1 million jobs and restore employment to the level it was before the pandemic.
  • An expanded Canada Emergency Business Account (CEBA), which would enable businesses, and not-for-profits eligible for CEBA loans—and that continue to be seriously impacted by the pandemic—to access an interest-free loan of up to $20,000, in addition to the original CEBA loan of $40,000. Half of this additional financing would be forgivable if repaid by December 31, 2022. Additionally, the application deadline for CEBA is being extended to December 31, 2020. Further details, including the launch date and application process will be announced in the coming days. An attestation of the impact of COVID-19 on the business will be required to access the additional financing.

Read more

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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

 

Small Business BC:

 

Free Talk to an Expert Sessions October 20th

 

Operations Management for Small Business
October 19th 9:00am PST

 

Creating Engaging Video Content Using Your Phone
October 19th 1:00pm PST

 

TaxSense During COVID-19
October 20th10:00am PST

 

Staying Resilient During COVID-19

October 20th11:00am PST

 

Market Research: Emerging Trends in Consumer Behaviour
October 20th 1:00pm PST

 

Smart Marketing in a Changing World
October 20th 2:30pm PST

 

Blogging to Promote Your Business
October 21st  9:00am PST

 

How to Launch Your Product in Today’s World
October 21st 1:00pm PST

 

Ergonomics in the COVID Era: Working from Home and Beyond
October 22nd 10:30am PST

 

Decolonizing, Indigenizing and Reconciling Entrepreneurship
October 22 1:00pm PST

 

Google Strategies for Your Local Business
October 23rd 09:00am PST

 

Early Stage Financing for Small Business
October 23rd 1:00pm PST

 

How to Stay Relevant in Uncertain Times
October 23rd 3:00pm PST

 

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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.

Read more

Resources for Economic Developers & Local Leaders

 

BCEDA Tools Include:

  • Virtual and In-Person Community Workshops
  • Business Resilience Program
  • Economic Recovery & Resiliency Toolkit
  • Community Tips for Response & Recovery
  • Business Engagement & Retention Program
  • Shop Local App
  • 2021 BC Economic Summit - Economic Revival: Charting a Path Forward for BC Communities
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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.  

Read the report
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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.

Read more
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Creating Connections Workshops

 

Co-operatives First has some upcoming Creating Connections Workshops on October 19 and November 18!


This workshop is practical, results focused, and delivered by experienced practitioners. So, no fluff. Plus, this FREE course is accredited by the Canadian Association of Management Consultants and the Economic Developers Associations of Manitoba, Saskatchewan, and Canada and counts towards your professional certification.


Take this workshop if you want to:
• Identify where a co-op might fit in your community
• Discover new opportunities for business development
• Explore innovative solutions to investment readiness
• Identify new business retention and expansion strategies
• Increase local economic development, job creation, and growth


These workshops will be hosted online, using Zoom, so you can join our discussion from your home or office. 

Read More & Register
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Ec Dev in Action

Profiling economic development success in BC's communities

 

Shuswap Indian Band and District of Invermere sign Friendship Agreement

More info

Salt Spring residents have access to a one-stop shop for COVID-19 info

More info

Downtown New West BIA's pandemic efforts recognized

More info

Hope business walk goes virtual

More info

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.

 

Click here to share your EcDevinAction.

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