News

CJA COVID-19 UPDATE

Canadian Chamber and the Government of Canada have teamed up with accounting profession to provide free advice to small to medium-sized business, not-for-profits and charities to navigate uncertainty. The program is called the Business Resilience Service (BRS). It provides options for any vulnerable small to medium-sized business, not-for-profit or charity to immediately connect with experienced accounting and tax professionals across the country from professional services firms. This is a FREE service and can be accessed starting today, May 25th for the next 4 weeks by calling 1-866-989-1080. 

http://www.chamber.ca/media/news-releases/200525-business-reslience-service/ 

The Federal Government is also speaking with the Provinces about providing 10 days paid sick leave for workers so that should a worker not feel well or show symptoms of COVID-19 that they are not concerned about taking sick days and losing pay. We will update this as the talks are ongoing.

Canada Emergency Commercial Rent Assistance(CECRA) 

The CECRA application portal will open on May 25. Prime Minister Trudeau promises that applicants will receive their relief quickly.

The program is designed to assist smaller businesses cover their rents between April and June.

Commercial property owners are being offered forgivable loans to cover 50 per cent of three monthly rent payments provided the property owner reduces eligible businesses rent by 75% for these months. Property owners need to agree to buy-in to the program. How successful the program will be is yet to be determined.

For more information https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business 

Masks

The Chief Public Health authorities are recommending, as an extra layer of protection, that the general public wear non medical masks or face coverings where social distancing is not possible or difficult.

https://www.canada.ca/en/public-health/services/diseases/2019-novel-coronavirus-infection/prevention-risks/about-non-medical-masks-face-coverings.html 

The Federal Government has expanded the Canadian Emergency Business Account's(CEBA) criteria.

From the link https://pm.gc.ca/en/news/news-releases/2020/05/19/prime-minister-announces-expansion-support-workers-and-small 

"The changes to the CEBA will allow more Canadian small businesses to access interest free loans that will help cover operating costs during a period when revenues have been reduced, due to the pandemic.

The program will now be available to a greater number of businesses that are sole proprietors receiving income directly from their businesses, businesses that rely on contractors, and family-owned corporations that pay employees through dividends rather than payroll.

To qualify under the expanded eligibility criteria, applicants with payroll lower than $20,000 would need:

• a business operating account at a participating financial institution
• a Canada Revenue Agency business number, and to have filed a 2018 or 2019 tax return.
• eligible non-deferrable expenses between $40,000 and $1.5 million. Eligible non-deferrable expenses could include costs such as rent, property taxes, utilities, and insurance.

Expenses will be subject to verification and audit by the Government of Canada. Funding will be delivered in partnership with financial institutions. More details, including the launch date for applications under the new criteria, will follow in the days to come. To date, over 600,000 small businesses have accessed the CEBA, and the government will work on potential solutions to help business owners and entrepreneurs who operate through their personal bank account, as opposed to a business account, or have yet to file a tax return, such as newly created businesses."

Also, Canadian/US border will remain closed to non-essential travel until June 21st.

Innovation, Science and Economic Development Canada (ISED), formerly known as Industry Canada,  has a tool for calculating what a business can apply for in terms of support from government.

You simply answer a few quick questions and get access to:

• Opportunities to find funding, wage subsidies, loans, tax credits and expert advice offered by government and some not-for-profits too.
• A tailored list of the right supports for their business, delivered to them in under two minutes.
• The option to save their favourite programs to review later.
• The email notification feature, where they can sign up to get emails whenever a program changes, an application deadline approaches or a brand new program is introduced that meets their needs, including new COVID-19 supports.

Here is the link https://innovation.ised-isde.canada.ca/s/?language=en 

The Canadian Chambers of Commerce have written a letter to the Minister of Health, in coordination with provincial/territorial health officers, requesting clear guidance for employers and consumers regarding the proper use of personal protective equipment (PPE) and other health and safety considerations related to COVID-19 in light of businesses reopening.

They are requesting:

• The development of education and awareness materials for both employers and consumers regarding what is appropriate PPE, social distancing, sanitation standards etc...
• Encouraging provincial/territorial harmonization of future health and safety expectations to simplify compliance for those firms that operate across the country; and
• Assisting companies to procure the supplies and implement the practices needed to re-open.
  

https://www.canadianbusinessresiliencenetwork.ca/news-and-insights/2020/05/12/an-open-letter-to-minister-hajdu-from-chamber-ceos/ 

We will keep you updated as this information could be very useful as you emerge from lockdown to open your businesses.

Missed the CJA webinar last Friday? Find a copy here: https://www.dropbox.com/s/dtlk6f8n8mjrwtc/CJA%20Webinar%20-%20May%208.mp4?dl=0

Also, if you're interested in the Global Trends and Innovations eBook – FREE https://mailchi.mp/3442d55cec9a/retailinnovations2020download.

RCC Recovery Checklist - https://www.retailcouncil.org/wp-content/uploads/2018/08/Retail-Recovery-Guide-Checklists-Templates-Guidelines_May-3-2020.pdf

USEFUL RESOURCES BY PROVINCE:

Please click here to download a list of useful resources by Province and Territory.

You read that right! If you're a CJA member, you can take advantage of this incredible new member-exclusive benefit. Contact us at valentina@canadianjewellers.com to learn how to take advantage of this amazing deal! 

Canadian Bricks and Mortar retail businesses have been closed across the country for nearly two months.  In this short time, customer purchasing habits have shifted to necessity over traditional patterns. At the same time, new operating rules are reshaping the way retailers will do business going forward. 
 
With provinces beginning to implement reopening of retail what does this look like for your business?

Lisa Hutcheson, Managing Partner at J.C. Williams Group will discuss the current state and future of retail as well as the essential things you need to know about re-opening.
 
Date:     Friday May 8, 2020
Time:     2-3pm EST
 
Approximately 45 min talk plus Q+A (approx. 15 min)
 
We will send the link to participate next week.

We would appreciate any questions that you have sent to valentina@canadianjewellers.com to help us better service the industry, its needs and address the questions.

CEWS

The Canadian Government opened up the Canada Emergency wage Subsidy (CEWS) application process today, April 27. 2020.

Go to the link https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy.html to:

1. Establish your businesses eligibility. 

2. Important link www.canada.ca for all covid-19 assistance.

3. There is an online calculator to assist in determining the CEWS. https://www.canada.ca/en/revenue-agency/services/subsidy/emergency-wage-subsidy/cews-who-eligible-employer.html .

4.CRA has partnered with Canadian financial institutions so ensure you have the ability for direct deposit.

5.The subsidies should start to be received by May 7, 2020.

Re-opening guidelines

The Federal Government is currently working with the Provinces to develop "shared guidelines" for re-opening safely. Each province is different. Some have begun re-opening. Some are announcing re-opening plans. The Federal Government wants clear and coordinated guidelines from coast to coast to coast. Details will follow in the near future.

RENT RELIEF UPDATE

Prime Minister Trudeau announced rent relief to small businesses who can't afford  to pay rent because their businesses operations have been curtailed or shut down completely due to covid-19. This relief will be done in partnership with provinces and territories, as they have jurisdiction over rents.

As reported by Global news:

"The Canada Emergency Commercial Rent Assistance for small businesses will provide forgivable loans to qualifying commercial property owners to cover 50 per cent of three monthly rent payments payable by eligible small business tenants experiencing financial hardship during April, May and June.

The loans will be forgiven if the mortgaged property owner agrees to reduce the eligible small business tenants’ rent by at least 75 per cent for the three corresponding months under a rent forgiveness agreement, which will include a pledge not to evict the tenant while the agreement is in place.

The small business tenant would cover the remainder, up to 25 per cent of the rent.

Affected small business tenants are those paying less than $50,000 per month in rent and who have temporarily ceased operations, or have experienced at least a 70-per-cent drop in pre-COVID-19 revenues. The program is also available to charities and non-profit organizations."

As details are revealed the CJA will update our members.

RCC WEBINARS
 

The Retail Council of Canada (RCC) is allowing non-members to participate to their webinars. An opportunity not to miss. If you're not a member, you can email them at events@retailcouncil.org to register.

https://www.retailcouncil.org/webinars/rcc-daily-briefing-on-covid-19-for-members

Every week on Mon, Wed, Fri, until May 08, 2020, 7 occurrence(s)

Apr 24, 2020 6:00 PM
Apr 27, 2020 6:00 PM
Apr 29, 2020 6:00 PM
May 1, 2020 6:00 PM
May 4, 2020 6:00 PM
May 6, 2020 6:00 PM
May 8, 2020 6:00 PM