The details are scant at this time but some small and medium-sized businesses may be eligible for payroll assistance to keep employees during the shutdown..Last week, the federal government had offered a 10 per cent assistance with small business payroll but Trudeau said during the news briefing Friday from Rideau Cottage in Ottawa that it wasn’t enough..It’s becoming clear that we need to do more – much more – so we’re bringing that percentage up to 75 for qualifying businesses,” he said..“This means people will continue to be paid even though their employers have to slow down or stop their business.”.Wage subsidies will be backdated to March 15, 2020..The subsidy brings Canada in line with European countries who are also offering wage assistance for employees between 70 and 75 per cent, including the U.K. and Norway..Trudeau also announced guaranteed interest-free loans for one year available to small businesses -up to $40,000 – with the potential to have a portion of the loan forgiven..More information is set to be released between March 27 and March 30..“We’re helping companies keep people on the payroll so that workers are supported and the economy is positioned to recover from this. That is our priority,” he said..“We’re thinking about that family-owned restaurant that’s been around for years, (and has) had many of the same employees for years. Employees who’ve been there through slowdowns, good times and bad times, and now in this moment of crisis, they’re having to lay these people off at their time of need.”.No one has been able to say with certainty just how long “this moment of crisis” will last..Leaders and health officials have emphasized the responsibility lies with each person to self-isolate if ill and consistently practice social distancing to “flatten the curve” and reduce the spread of the virus..“We know we’re talking about weeks and possibly months,” Trudeau said..Every province in Canada has implemented some form of social gathering restriction which has impacted event venues, popular gathering places like restaurants, bars, and pubs, as well as indoor recreational businesses..P.E.I. announced a complete shutdown of non-essential businesses on March 19 with only 3 positive cases of COVID-19. Ontario and Quebec closed all non-essential businesses as of midnight March 24 with more than 700 and 1,300 cases, respectively..Deirdre Mitchell-MacLean is a Senior Reporter with Western Standard.dmaclean@westernstandardonline.com.Twitter @Mitchell_AB
The details are scant at this time but some small and medium-sized businesses may be eligible for payroll assistance to keep employees during the shutdown..Last week, the federal government had offered a 10 per cent assistance with small business payroll but Trudeau said during the news briefing Friday from Rideau Cottage in Ottawa that it wasn’t enough..It’s becoming clear that we need to do more – much more – so we’re bringing that percentage up to 75 for qualifying businesses,” he said..“This means people will continue to be paid even though their employers have to slow down or stop their business.”.Wage subsidies will be backdated to March 15, 2020..The subsidy brings Canada in line with European countries who are also offering wage assistance for employees between 70 and 75 per cent, including the U.K. and Norway..Trudeau also announced guaranteed interest-free loans for one year available to small businesses -up to $40,000 – with the potential to have a portion of the loan forgiven..More information is set to be released between March 27 and March 30..“We’re helping companies keep people on the payroll so that workers are supported and the economy is positioned to recover from this. That is our priority,” he said..“We’re thinking about that family-owned restaurant that’s been around for years, (and has) had many of the same employees for years. Employees who’ve been there through slowdowns, good times and bad times, and now in this moment of crisis, they’re having to lay these people off at their time of need.”.No one has been able to say with certainty just how long “this moment of crisis” will last..Leaders and health officials have emphasized the responsibility lies with each person to self-isolate if ill and consistently practice social distancing to “flatten the curve” and reduce the spread of the virus..“We know we’re talking about weeks and possibly months,” Trudeau said..Every province in Canada has implemented some form of social gathering restriction which has impacted event venues, popular gathering places like restaurants, bars, and pubs, as well as indoor recreational businesses..P.E.I. announced a complete shutdown of non-essential businesses on March 19 with only 3 positive cases of COVID-19. Ontario and Quebec closed all non-essential businesses as of midnight March 24 with more than 700 and 1,300 cases, respectively..Deirdre Mitchell-MacLean is a Senior Reporter with Western Standard.dmaclean@westernstandardonline.com.Twitter @Mitchell_AB
