Weekly Digest – 22 April 2020

The impact of the COVID-19 pandemic continues to spread across the country and around the globe, leaving nearly no one completely untouched. But among the tragic stories are also stories of incredible resourcefulness.

Here are some recent updates and helpful resources we’ve found lately to help you through this.

Canada Emergency Commercial Rent Assistance (CECRA)

Prime Minister Trudeau announced an intention to introduce rent support to assist small and medium-sized businesses during the coronavirus pandemic.

While the finer details of the new program, called Canada Emergency Commercial Rent Assistance (CECRA), haven’t been announced yet, the support will be available for April, May and June rents.
CECRA will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June.

The government says implementation of the program will require a partnership with provincial and territorial governments who are responsible for property owner-tenant relationships.

We hope to have more details in the coming weeks and we regularly check the government’s Economic Response Plan.

We understand that many business owners are struggling right now. Please get in touch with us to discuss the best way forward for you, your staff and your business.

Government help for businesses and individuals

The government has details on economic response schemes for businesses and individuals on their website. These schemes include wage subsidies and loans. Please ask us if you have any questions relating to this.

Ways to help small businesses

If you want to help small businesses in your community, here are 11 ideas to help out with your time, money and other resources. The article includes good suggestions like buying gift cards, leaving positive reviews online, or ordering takeaway.

This week’s good news

Every week, we like to bring you a good news story. The response of some people to the pandemic has been amazing and none more so than Army veteran Tom Moore, 99, who has raised £23 million for the healthcare workers by doing laps of his garden. His original target was £1000! Like Tom, we are all finding our own ways to make the best of the strange new world we are in.

Here to help

It’s certainly been a tough few weeks but we’re here to help. Thank you for your continued patience as we wade through government announcement and package requirements. If you have any questions or concerns, don’t hesitate to reach out to us.