Your business and COVID-19


Are you concerned that your business won’t make it through the pandemic?

Like many other small business owners, COVID-19 has thrown a wrench in my business plans. I finished my MBA in March just as the COVID-19 lockdown was starting. I planned to ramp my business back up after a brief break from studying. Unfortunately, COVID-19 hit, and everything changed.

COVID-19 had less of an impact on my business than many others. My business was in the start-up stage, where I had low overhead and no employees. I was able to put my business on the back burner while I figured out what to do next. I know this story sounds familiar to many business owners. Some companies have been able to adapt to the lockdown and continue while others are facing the heart-wrenching decision to close the business they have worked on for years.

The COVID-19 pandemic has impacted each business in different ways. Remember, you are not alone in the fight to make it through the pandemic. If you need help with applying for these programs or support dealing with business issues during the COVID-19 crisis, please book a free consultation with me, and together let’s move your business forward. My calendar is available at

What you can do:

In Canada, there are many Federal, Provincial and Municipal programs. Accessing these programs can help your business survive COVID-19. Below, I’ve included only some of the Government of Canada programs available for small businesses as the list for provinces and municipalities would be too long:

  1. Government of Canada
    • CEBA – $40,000 Canada Emergency Business Account. “CEBA is a lending program that can help small firms pay expenses that cannot be deferred during this challenging period. The loans are interest-free, backed by the Government of Canada and forgivable up to $10,000 when paid back by December 31, 2022. Banks are administering these loans in different ways. Some offer a $40,000 term loan; others offer a line of credit up to $40,000 – sometimes through a zero-interest credit card”.  For-profit and not for profit businesses can apply for these loans.
    • CECRA – Rent assistance for small businesses. “Canada Emergency Commercial Rent Assistance (CECRA) for small businesses provides relief for small businesses experiencing financial hardship due to COVID-19. CECRA for small businesses offers you a forgivable loan worth 50% of the value of your small business’ rent each month. The loans will be forgiven if you comply with all applicable program terms and conditions.”
    • CEWS – Wage subsidy for employers provides up to 75% of employees’ wages. The Canada Emergency Wage Subsidy helps you keep current employees and hire back employees that you have laid off. As a Canadian employer whose business has been affected by COVID-19, you may be eligible for a subsidy of 75% of employee wages for up to 24 weeks, retroactive from March 15, 2020, to December 19, 2020.
    • 10% Temporary Wage Subsidy for Employers – “The 10% Temporary Wage Subsidy for Employers reduces the amount of income tax source deductions that employers have to remit to CRA on behalf of their employees by up to 10% of their remuneration (to a maximum of $1,375 per employee up to $25,000 per employer). Many employers that qualify for the CEWS also qualify for the 10% Temporary Wage Subsidy for Employers.”
    • Free webinars – The Government of Canada has several free webinars available on the BDC website.
  1. Provincial Government

Each province has its own response to COVID-19. Check with your provincial government to find out what supports they have available.

  1. Check with your insurance company – most insurance policies will not cover losses related to COVID-19, but some of them do. Your insurance company will be able to tell you for sure.
  2. Speak to your employees and suppliers – Keep your employees and suppliers apprised of what steps you are taking to get through the pandemic. Your employees may have ideas to reduce costs or increase sales. Your vendors may be able to help by extending payment deadlines.


Please note: These programs are subject to change by the various levels of government without prior notice.

Useful Links

Federal Government

CEBA: $40,000 Canada Emergency Business Account

CECRA: Rent assistance for small businesses

CEWS: Wage Subsidies

10% Temporary Wage Subsidy for Employers

Bank of Canada Free Webinars

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