The Buzz

COVID-19 Update

Government of Canada to invest $8.3 million in western Canadian women entrepreneurs
On July 15 government announced $8.3 million through the Regional Relief and Recovery Fund to support the Women’s Enterprise Initiative (WEI) organizations across Western Canada. The Women’s Enterprise Centre in British Columbia, Alberta Women Entrepreneurs, Women Entrepreneurs of Saskatchewan and the Women’s Enterprise Centre of Manitoba will each receive $2 million in additional loan funds for women entrepreneurs. In addition, $300,000 in operating funding will be divided equally among the four WEIs to meet the increased demand for advisory services and business supports.

House of Commons passes Bill C-20, An Act respecting further CoVID-19 measures, including changes to CEWS
On July 20 Minister Morneau introduced Bill C20, An Act respecting further COVID-19 measures, which was passed in the House of Commons on July 21 in the House of Commons. The bill must now pass scrutiny and a vote by the Senate. Upon receiving Royal Assent, this legislation would make the CEWS more targeted, expand eligibility, and help more workers get back to their jobs as the economy continues to reopen.

Specifically, Bill C-20 will:

• Allow the extension of the CEWS until December 19, 2020, including redesigned program details until November 21, 2020.
• Make the subsidy more accessible to a broader range of employers by providing a gradually decreasing base subsidy to all eligible employers that are experiencing a decline in revenues. This would help many struggling employers with less than a 30 per cent revenue loss get support to keep and bring back workers, while also ensuring those who have previously benefited could still qualify, even if their revenues recover and no longer meet the 30 per cent revenue decline threshold.
• Introduce a top-up subsidy of up to an additional 25 per cent for employers that have been most adversely affected by the COVID-19 crisis. This would be particularly helpful to employers in industries that are recovering more slowly.
• Provide certainty to employers that have already made business decisions for July and August by ensuring they would not receive a subsidy rate lower than they would have under the previous rules.
• Address technical issues with the CEWS identified by stakeholders, for example by providing continuity rules to address circumstances where an employer purchased all or substantially all of another entity’s business assets.
• Make the proposed amendments to the CEWS previously introduced in Bill C-17, An Act respecting additional COVID-19 measures.

CPB Canada COVID-19 Resources Page
You will find current and credible resources on COVID-19 programs, resources and more on our COVID-19 resources page on the CPB Canada website. The provincial and territorial page contains links to provincial and territorial re-opening plans and guidelines for businesses.