Tag: ontario chamber of commerce

COVID-19: Business Resources and Updates

This is the Oakville Chamber of Commerce’s central hub for business resources and updates regarding COVID-19. Please visit this page often as we continue to provide the most up-to-date information.

Oakville Chamber of Commerce

Canadian Business Resilience Network launches Small Business Relief Fund

(May 25, 2020)

The Canadian Business Resilience Network (CBRN) has announced the Small Business Relief Fund. It is a national initiative to provide small Canadian businesses with $10,000 grants to help in their COVID-19 recovery efforts. These grants are made possible by Salesforce. 

Applications for this grant opportunity will open June 1, 2020 and close June 12, 2020. 
Any business considering applying must hold a valid membership with a Chamber of Commerce, Board of Trade or any other business association that is a member of the CBRN.

Government of Canada partners with Canadian Chamber of Commerce to launch Busines Resilience Service

(May 25, 2020)

The Business Resilience Service (BRS) allows you to connect with experienced business advisors from across Canada for guidance on which government relief programs will be most appropriate to support your small- to medium-sized business, not-for-profit or charity on how to respond and reshape amid uncertainty.

The program, delivered to your organization free of charge, provides:

  • Guidance on COVID-19 financial support program options and eligibility
  • Direction on accessing the most appropriate support organizations
  • Help to make decisions to support recovery plans
  • Real time insights and feedback to policymakers

To access the BRS call 1-866-989-1080 to connect with a business advisor from the accounting profession. The service is available 7 days/week from 8am – 8pm ET (5am – 5pm PT).

Learn more.

May Events Update

(May 4, 2020)
As we continue to follow the recommendations of the Public Health Agency of Canada, all May have been postponed or rescheduled. Please continue to monitor our website for updates. If you have any questions regarding tickets purchased or your participation in any of our upcoming events, please do not hesitate to reach out to our team at info@oakvillechamber.com – we are happy to assist you with any inquiry.


Recent Government Announcements

Government of Ontario extends Emergency Orders Until June 9thMay 27, 2020

Canada Emergency Commercial Rent Assistance now open for applicationsMay 25, 2020

Ontario Helps People Impacted by COVID-19 Get Back to Work and introduces Ontario Tools GrantMay 22, 2020

Ontario makes legislative changes to allow corportations to operate virtually and electronicallyMay 22, 2020

Canada Emergency Rent Relief Program Open for Applications May 25thMay 20, 2020

Large Employer Emergency Financing Facility Program (LEEFF) Open for ApplicationsMay 20, 2020

Government of Canada Expands Eligibility Criteria for Canada Emergency Business AccountMay 19, 2020

Government of Canada Extends Emergency Wage SubsidyMay 15, 2020

Canada Summer Jobs start rolling out to keep young people working during COVID-19May 15, 2020

Government of Canada announces support for research staff in CanadaMay 15, 2020

Reopening the Ontario Economy: Stage One – May 14, 2020
Premier Doug Ford announced that the Government of Ontario will begin Stage One of Reopening the Economy on Tuesday, May 19th. The government also announced additional seasonal services and activities will be permitted to open as early as Saturday May 16th in time for the Victoria Day long weekend.

The government also launched the Workplace PPE Supplier Directory has an up-to-date list of Ontario companies and business associations that are ready to supply personal protective equipment.

Before your business reopens, review the Government of Ontario’s sector-specific guidelines and posters to help protect workers, customers and the general public from COVID-19


If you have questions about what will be open or impacts to your business, read the Government of Ontario’s frequently asked questions or call the Stop the Spread Business Information Line at 1-888-444-3659. Read the media release.

FedDev Ontario Launches Regional Relief and Recovery Fund (RRRF)
 May 13, 2020

Prime Minister announces Large Employer Emergency Financing Facility and Expansion of the Business Credit Availability Program
 May 8, 2020

Support for Business

Direct Financial Support for Businesses

Canada Emergency Wage Subsidy
The Government of Canada will provide eligible businesses, charitable or not-for-profit organizations that have experienced at least a 15% decline in revenue in March 2020 and a 30% decline in revenue in April and/or May 2020, when compared to the same month in 2019, with a 75% wage subsidy for up to three months. Alternatively, organizations would qualify if they can demonstrate a drop in gross revenues of 30%+ in these months against January and February of this year.

The Canada Emergency Wage Subsidy will cover employees’ salaries on the first $58,700 earned this year – to a maximum amount of $847 per week. The program will be backdated to March 15, 2020 and is designed to protect jobs and maintain the important link between employees and employers. 

Frequently Asked Questions for the Temporary Wage Subsidy for Employers.

Learn more.
Before you calculate your subsidy, make sure you are eligible to apply.
After you apply for the wage subsidy, your claim will be subject to verification.

Use the Canada Emergency Wage Subsidy Calculator

Canada Emergency Business Account (CEBA)
The Government of Canada is providing businesses with interest-free loans of up to $40,000 to help cover operating costs during a period where their revenues have been temporarily reduced due to COVID-19. This program is for businesses with a total payroll between $20,000 to $1.5 million in 2019. Repayment of the loan on or before December 31, 2022 will result in loan forgiveness of 25% (up to $10,000). This will better position companies to quickly return to providing services to their communities and create employment. Applications are available through your primary bank or credit union.

Learn more.

On May 19th, the Government of Canada announced an expansion to the eligibility criteria for the Canada Emergency Business Account (CEBA) to include many owner-operated small businesses. This extended measure will help small businesses protect the jobs that Canadians rely on. Read the media release. More details, including the launch date for applications under the new criteria, will follow in the days to come.

Regional Relief and Recovery Fund (RRRF)
The Regional Relief and Recovery Fund (RRRF) is being delivered by Regional Development Agencies (RDAs) to help more businesses and organizations in sectors across the economy such as manufacturing, technology, tourism and others that are key to the regions and local economies. As the RDA for southern Ontario, FedDev Ontario will work with key partners, such as the Community Futures Development Corporations, across the region to help southern Ontario businesses during these difficult times.

Learn more.

Facebook Small Business Grants
Facebook knows that your business may be experiencing disruptions resulting from the global outbreak of COVID-19. They’ve heard that a little financial support can go a long way, so we’re offering $100M in cash grants and ad credits to help during this challenging time.

Up to 30,000 eligible small businesses in more than 30 countries will be able to receive a grant from Facebook. To be eligible to apply, your business must:

  • Have between 2 and 50 employees
  • Have been in business for over a year
  • Have experienced challenges from COVID-19
  • Be in or near a location where Facebook operates

Apply / Learn more.

Direct Financial Support for Workers

Canada Emergency Response Benefit (CERB)
The CERB provides direct financial support of $500 per week for up to 16 weeks to Canadians who have lost their job, have had their hours reduced, have had their EI recently run out, are seasonal workers, are sick, quarantined, or taking care of someone who is sick with COVID-19, as well as working parents who must stay home without pay to care for children who are sick or at home because of school and daycare closures. Employed workers who earn up to $1,000 per month may still qualify for the CERB. CERB applications are available through Service Canada and the CRA, though please only apply through one of the portals – not both. Payments will be received within 10 days of application with payments made every four weeks for the period of March 15 to October 3, 2020.

Learn more.

Employment Insurance
Ongoing access to the Employment Insurance (EI) program is available for eligible workers who have lost their job. EI is designed to provide temporary financial support for those workers who have lost their job, are sick, pregnant, caring for a newborn or adopted child, caring for a family member who is seriously ill with a significant risk of death or providing care or support to a critically ill family member. 

Learn more.

Access to Capital

Business Credit Availability Program
Through the Business Development Bank of Canada (BDC) and Export Development Canada (EDC), the new Business Credit Availability Program will increase the credit available to small, medium and large Canadian businesses, providing more than $65 billion in direct lending and other types of financial support.

Large Employer Emergency Financing Facility (LEEFF)

The program will support Canada’s largest employers, whose needs during the pandemic are not being met through conventional financing. LEEFF will help successful applicants keep their operations going. The objective of this support is to help protect Canadian jobs, help Canadian businesses weather the current economic challenges, and avoid bankruptcies of otherwise viable firms where possible. This support will not be used to resolve insolvencies or restructure firms, nor will it provide financing to companies that otherwise have the capacity to manage through the crisis.

The government’s support for large employers through LEEFF will be delivered by a subsidiary of the Canada Development Investment Corporation (CDEV), in cooperation with Innovation, Science and Economic Development Canada (ISED) and the Department of Finance. Additional information on the application process is available on the CDEV website. Broader sectoral dynamics for LEEFF applicants will be considered through processes led by Innovation, Science and Economic Development Canada.

Learn more.


Financial Relief Offered by Canadian Banks
Banks will provide financial relief to businesses affected by the economic consequences of COVID-19. Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank will work with personal and small business customers, on a case-by-case basis, to provide flexible solutions to help them manage challenges, such as pay disruption, childcare disruption due to school closures or those facing illness from COVID-19.

Bank of Canada Interest Rate
The Bank of Canada cut its overnight rate to 0.25% – the interest rate at which major financial institutions borrow and lend one-day (or “overnight”) funds among themselves.

Tax Relief

Deferred Income Tax Payment for Businesses
Canada Revenue Agency (CRA) will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after March 18 and before September 2020, with no interest or penalties applicable during this period.
Deferred GST/HST Remittance
CRA will defer the Goods and Services Tax/Harmonized Sales Tax (GST/HST) remittances to June 30, 2020.
Deferred Provincial Taxes

Beginning April 1, 2020, the Government of Ontario is providing flexibility to about 100,000 businesses in Ontario to help manage their cash flows during this challenging time. This will continue for a period of five months, up until August 31, 2020.

For this period, the Province will not apply any penalty or interest on any late-filed returns or incomplete or late tax payments under select provincially administered taxes, such as the Employer Health Tax, Tobacco Tax and Gas Tax.

Deferred Property Tax in Town of Oakville

Tax installments due April 24: Penalty and interest for non-payment, and non-sufficient funds charges for returned payment will be waived until June 30, 2020.

Outstanding property taxes: Penalty and interest will be waived until June 30, 2020.

Pre-authorized payment plans: Property owners may opt-out without penalty from April 1 to June 30, 2020. Property owners must contact finance@oakville.ca by the 15th of the month to opt-out before payment is set to withdraw.

Learn more.

Additional Assistance For Business

Canada Emergency Commercial Rent Assistance Program
On April 16th,  Prime Minister Justin Trudeau announced the government’s intent to introduce The Canada Emergency Commercial Rent Assistance Program. This program will seek to provide loans, including forgiveable 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.
Implementation of the program will require a partnership between the Federal Government and Provincial and Territorial Governments.

On April 24th, the Federal Government announced that this program will lower rent by 75 per cent for small businesses that have been affected by COVID-19. Read the media release.

On May 20th, the Federal Government announced that application documents and updated criteria for Canada Emergency Commercial Rent Assistance (CECRA) for small businesses are now available, and that the program will be opened for applications beginning on May 25th. Learn more.
 
Distantly.ca
Oakville’s Economic Task Force announces the launch of Distantly.ca in Oakville; an online crowd-funding platform to connect small business with community donations. Learn more.   Learn how to set up your business page.
 
Elecricity Rates Reduction
The Government Ontario is temporarily reducing electricity rates for small businesses, farms, and residential customers that pay time-of-use (TOU) rates. TOU rates will be suspended until at least May 8, 2020, holding electricity prices to the off-peak rate of 10.1 cents-per-kilowatt-hour.

Stop the Spread Business Information Line
The Government of Ontario has launched a toll-free line 1-888-444-3659 to provide support to Ontario businesses who have questions about the province’s recent emergency order to close at-risk workplaces following recommendations by Ontario’s Chief Medical Officer of Health.

Help is available from Monday to Sunday, from 8:30 a.m.―5:00 p.m. A complete list of essential services is available on the Government of Ontario’s website.

Work-Sharing Program
The Government of Canada has enhanced its Work-Sharing Program to support employers and their workers who are experiencing a downturn in business by expanding the program from 38 to 76 weeks and by streamlining processes to improve access.

Learn more.

WSIB Deferred Payments

The Workplace Safety and Insurance Board (WSIB) will allow employers to defer payments for a period of six months. This will provide employers with $1.9 billion in financial relief.

All employers covered by the WSIB’s workplace insurance are automatically eligible for the financial relief package. Schedule 1 employers with premiums owed to the WSIB will be allowed to defer reporting and payments until August 31, 2020. The deferral will also apply to Schedule 2 businesses that pay WSIB for the cost related to their workplace injury and illness claims. In addition, no interest will be accrued on outstanding premium payments and no penalties will be charged during this six-month deferral period.

Learn more.


Resources for Business

Navigating the support programs for business

Business Continuity and Recovery

Human Resources

Safety and Security

Monitor COVID-19

Stay up-to-date on the rapidly evolving situation, and on the nature of the virus itself, by frequently checking municipal, provincial, and national websites.



      Addressing Regional Imbalances Critical to Ontario’s Future

      Industry report outlines strategies to unlock the economic potential of communities across the province

      Today the Oakville Chamber of Commerce, in partnership with the Ontario Chamber Network, released a new report, The Great Mosaic: Reviving Ontario’s Regional Economies. The report outlines how government of all levels can work with industry to unleash the potential of Ontario’s regional economies and reinforce the competitiveness of the province as a whole.

      “We are only as strong as our weakest link and our ability to prosper depends on the strength of our different regions. Economic and population growth rates in the Greater Golden Horseshoe and Ottawa have far surpassed those in other areas of the province,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Our communities – and the province as a whole – risk falling behind if we do not leverage the rich and diverse competitive advantages of our local economies.”

      The Great Mosaic: Reviving Ontario’s Regional Economies examines the opportunities and challenges faced by different communities across the province and offers a framework for thinking about the present and future of Ontario’s regional economies.

      “We urge policymakers to take a modern and comprehensive approach to economic development by leveraging the existing competitiveness advantages of Ontario’s regions, and implement deliberate strategies to support long-term growth in communities across the province,” added Rossi.

      The Ontario Chamber Network’s report makes 17 recommendations to strengthen the well-being of Ontario’s regions. Key takeaways include:

      • The most cost-effective way to drive economic development is to cultivate talent, trade, and infrastructure. Governments should make it a priority to upgrade transportation and energy networks, modernize their regulations and business supports, offer dynamic education and training opportunities, and encourage labour mobility.

      • Building regional capacity for innovation is fundamental to productivity and growth. This means improving commercialization and technology adoption, strengthening regional innovation centres, expanding broadband internet access, and facilitating cluster development.

      • Modern governance of economic development should empower a wide range of stakeholders including businesses, post-secondary institutions, and not-for-profit organizations outside government. Regional collaboration, economic reconciliation with Indigenous peoples, and the use of data are all critical to mobilizing local assets.

      “In the face of technological transformation and globalization, there is no question that Ontario has what it takes to succeed. We are optimistic that the province can successfully navigate the modern economy if we work together to unlock the economic potential of our communities,” said Drew Redden, President and CEO, Oakville Chamber of Commerce.

       

      Read the Ontario Chamber Network’s report, The Great Mosaic: Reviving Ontario’s Regional Economies.

      Read the Ontario Chamber Network’s full list of recommendations.

       


      Provincial Budget 2019

      “The Oakville Chamber has been focusing our advocacy efforts on four key priorities: Transportation and Infrastructure, Business Competitiveness, Recruiting and Retaining Talent, and Innovation. The Chamber is encouraged to see these member priorities reflected in the Provincial Budget.

      The Chamber also welcomes the government’s focus on building a more competitive tax environment. The Ontario Job Creation Investment Incentive will provide the needed tax relief for business while promoting investment and job growth. The Oakville Chamber, along with the Ontario Chamber Network, will continue to encourage the government to help small businesses scale-up by creating a variable small business tax rate.

      The Oakville Chamber looks forward to seeing more details on the government’s planned investments of $14.7 billion in infrastructure over the next ten years, and will continue to press the government to address the province’s infrastructure deficit.”

      -Drew Redden, President, Oakville Chamber of Commerce


      Read the Ontario Chamber of Commerce analysis.

      Read the Provincial Budget 2019.



      Long-Term Transportation Plan Fundamental to Ontario’s Diverse Transportation Needs

      This week the Ontario Chamber of Commerce released Moving Forward: Towards a Strategic Approach to Ontario’s Transportation Needs (Part I), a policy report calling on the Ontario Government to develop a Long-Term Transportation Plan. To address the current and future transportation needs of the province, the report highlights three areas of opportunity that will help improve the movement of goods and mobility of Ontarians.

      In a recent Ontario Chamber survey, 58 percent of Ontario businesses rated existing transportation infrastructure as fair or poor. With much of the existing infrastructure in Ontario built in the 1950s and 1960s and nearing the end of its useful life, the Ontario Chamber of Commerce recognizes that the costs of investment are high, and Ontario is far behind when it comes to building new and maintaining old infrastructure.

      “Transportation is the backbone of our economy, affecting the movement of people and goods and the everyday lives of Ontarians and businesses,” said Rocco Rossi, President and CEO of the Ontario Chamber of Commerce. “Yet, congestion, limited transit connectivity, population growth, aging assets, unique regional needs, and a historic under-investment in infrastructure have led to a significant gap between the actual and needed infrastructure in Ontario. This has led to real challenges faced by Ontario residents and businesses every single day.”

      The Ontario Chamber developed an initial thirteen strategic and pertinent transportation recommendations for a stronger Ontario within three critical areas. Although not an exhaustive review of all transportation modes and regional needs across the province, this approach will help to address the current and future transportation needs of the province with a focus on:

      1. Transit planning governance (with an initial focus on the GTHA);
      2. Moving people and goods by rail; and
      3. Autonomous vehicles.

      The report points to short- and long-term opportunities, including CN Rail’s Milton Logistics Hub, the use of advanced signalling technology to increase capacity on subways, VIA Rail’s High Frequency Rail proposal, bringing two-way all-day GO Train service to the Innovation Corridor, developing ‘Union Station West’, and the return of passenger rail to Northern Ontario.

      Ontario was also the first province in Canada to implement a pilot regulatory framework to allow for the testing of autonomous vehicles and driverless technology. The report calls attention to the readiness of the province for the reality of autonomous vehicles in the near future, recommending Ontario capitalize on its first-mover status in this space. The OCC urges all levels of government to work together with industry to attract future investments, innovation, and jobs, as well as ensure Ontario is the first province to reap the benefits associated with this technology.

      “50% of Ontario businesses view transportation infrastructure as critical to their competitiveness. The province needs a plan that is strategic, provides value for public dollars, optimizes existing assets, leverages the private sector and technology, and takes into account the unique needs of our province,” added Rossi. “Moving forward, we will continue to consult our members on the province’s vast and diverse transportation needs.”

      The Ontario Chamber of Commerce has been active on the transportation file for years, and will continue to provide thought leadership on other transportation modalities as part of its ongoing advocacy on the province’s transportation planning and priorities.

      Read the Ontario Chamber of Commerce’s report: Moving Forward: Towards a Strategic Approach to Ontario’s Transportation Needs (Part I).




      Ontario Election Platform Analysis

      In October, the Ontario Chamber Network released Vote Prosperity, a platform for the 2018 provincial election campaign on June 7. The release of the platform nine months prior to the election was intended to ensure all parties have an opportunity to address the most important issues to business within their own platforms.

      On April 16, 2018, Ontario New Democrat Leader Andrea Horwath announced the NDP’s 2018 Election Platform Change for the BetterRead the Ontario Chamber’s analysis. On May 14, 2018, Ontario Green Party Leader Mike Schreiner announced his Party’s 2018 Election Platform, People Powered ChangeRead the Ontario Chamber’s analysis. On May 26, 2018, the Ontario Liberal Party released their platform for the 2018 election, Care Over Cuts. Read the Ontario Chamber’s analysis.  On May 30, 2018, Progressive Conservative Party of Ontario leader Doug Ford announced his party’s 2018 election platform, Plan for the People. Read the Ontario Chamber’s analysis. 
      With the election just a week away, we are encouraging Ontarians to send a letter to their local candidates asking them to support the Ontario Chamber Network’s Vote Prosperity platform.