Business Recovery Bulletin

 

OTTAWA EXTENDS LOAN FORGIVENESS REPAYMENT DEADLINE FOR CANADA EMERGENCY BUSINESS ACCOUNT
Yesterday, the federal government announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing.We were pleased by the additional breathing room provided, but called for a longer extension to December 31, 2024 to allow those in the hardest hit sectors to take advantage of the forgivable portion.
FOR YOUR ATTENTION
A Reminder from ESDC: How to Issue ROEs for COVID-related Employment Interruptions If you have employees who stopped working because of a lockdown as a result of COVID-19, you must issue their records of employment (ROEs) as soon as possible. If you have already issued their ROEs, you do not need to issue a new one. You can use ROE Web to issue ROEs online rather than completing paper forms. This can speed up the processing of your employees’ EI benefits.When you complete the employee’s ROE, indicate why the employee stopped working in block 16 (reason for issuing this ROE). When the employee:

  • is no longer working due to a shortage of work because the business has closed or decreased operations due to COVID-19, use code A (shortage of work). Do not add comments;
  • is sick or quarantined, use code D (illness or injury). Do not add comments;
  • refuses to come to work but is not sick or quarantined, use code E (quit) or code N (leave of absence), as appropriate. Avoid adding comments unless absolutely necessary.
Mitacs’ Indigenous Pathways Research and Innovation Call

OTTAWA EXTENDS LOAN FORGIVENESS REPAYMENT DEADLINE FOR CANADA EMERGENCY BUSINESS ACCOUNT
Yesterday, the federal government announced that the repayment deadline for CEBA loans to qualify for partial loan forgiveness is being extended from December 31, 2022, to December 31, 2023, for all eligible borrowers in good standing.We were pleased by the additional breathing room provided, but called for a longer extension to December 31, 2024 to allow those in the hardest hit sectors to take advantage of the forgivable portion.
Read the Announcement
Read Our Response
FOR YOUR ATTENTION
A Reminder from ESDC: How to Issue ROEs for COVID-related Employment Interruptions If you have employees who stopped working because of a lockdown as a result of COVID-19, you must issue their records of employment (ROEs) as soon as possible. If you have already issued their ROEs, you do not need to issue a new one. You can use ROE Web to issue ROEs online rather than completing paper forms. This can speed up the processing of your employees’ EI benefits.When you complete the employee’s ROE, indicate why the employee stopped working in block 16 (reason for issuing this ROE). When the employee:

  • is no longer working due to a shortage of work because the business has closed or decreased operations due to COVID-19, use code A (shortage of work). Do not add comments;
  • is sick or quarantined, use code D (illness or injury). Do not add comments;
  • refuses to come to work but is not sick or quarantined, use code E (quit) or code N (leave of absence), as appropriate. Avoid adding comments unless absolutely necessary.
More on Completing the ROE Form
Mitacs’ Indigenous Pathways Research and Innovation CallMitacs is celebrating the launch of the Indigenous Pathways Research and Innovation Call by acknowledging the inspiring work of Indigenous researchers and communities participating in the program.Join a webinar on January 27 at 2:00 p.m. ET for a conversation on the innovative ways Indigenous researchers are using the Indigenous Pathways Call to animate their language revitalization efforts.
More Information
Register Now
Attention Women EntrepreneursEarlier this week, the federal government announced a call for proposals for new projects under the Women Entrepreneurship Ecosystem Fund, one of the initiatives of the $6 billion Women Entrepreneurship Strategy (WES).Under this new call for proposals, $25 million is available for projects that aim to remove systemic barriers and create more equal access to the resources that intersectionally diverse and underserved women in business need to succeed.To be considered, projects must be led by non-profit organizations, be national or multi-regional in scope and be focused on intersectionally diverse and/or underserved women entrepreneurs.Projects must also include a mentoring and networking component and should provide business development or capacity building and skills development to support:

  • start-ups
  • scale-ups
  • supplier diversity
  • recovery planning/adaptation

Consideration will also be given to projects that will contribute to strengthening the network of women entrepreneurship organizations in Canada.

More Information
Tax Matters: A Snapshot of Canada’s Tax CompetitivenessWe believe that economic growth is the only way Canada can make a sustainable recovery from the pandemic and that a more competitive, simpler and equitable tax system will be key to building a stronger economic future.Our newest report explores how Canada’s tax policies affect our ability to compete with the United States, specifically when it comes to attracting investment for projects like vaccine production, EV battery manufacturing and critical mineral extraction. Want to see how it all plays out?
Read Our Report
NEW!The Business of Business with ZOOM’s Chief Information Officer, Harry Moseley!
UPCOMING EVENTS
Registration for Canada 360° Economic Summit 2022 – The Future of Economic Growth Is Now Open!February 9 | 9:00 a.m. to 5:00 p.m. ET | VirtualWe will set the stage for this future-focused day with a session with pollster Nik Nanos, who will discuss what Canadians think about economic growth. From there, we will launch into a number of other timely discussions on the future of everything from virtual connectivity, to diversity, to infrastructure and net-zero.We also look forward to hearing from the Bank of Canada’s Governor Tiff Macklem.
View the Agenda
Register Now
2022 Business Goals: Implementing Net-Zero, ESG & “Corporate Purpose”January 27 and February 24 | 11:00 a.m. to 12:30 p.m. ET | VirtualSocietal issues are now boardroom issues. Investors and other stakeholders are increasingly demanding that corporations move forward on net-zero and ESG.Join us for two upcoming sessions with the good people from Goodman Sustainability Group:

More Information
The Resilient Supply ChainJanuary 26 | 12:00 p.m. to 1:00 p.m. ET | VirtualThe ripple effect of increased shipping costs and a stretched supply chain is presenting significant challenges for both Canadian importers and exporters.  Join us for this in-depth panel discussion as we take a closer look at how both the pandemic and natural disasters have affected the movement of goods in Canada, mapped out along the pandemic timeline, through the lenses of both importers and exporters with insights provided by the Vancouver Fraser Port Authority representing Canada’s largest port, the Port of Vancouver.
Register Now
GOOD NEWS AND BEST PRACTICES
It’s a Jungle out There…The owners of the Urban Jungle in Cambridge (ON) have really never known a business without pandemic restrictions. They bought an existing business and opened as owners in February 2020. Ugh…we all know the timelines weren’t in their favour. They had just taken over the business and were not eligible for government monies and the business was not yet online.To reassess, they shut the business down for two months and regrouped. By the end of the two months, they had a new website and a social media presence. They know that going online and delivery have been essential to their success.A new aspect of business? Weekly and monthly subscriptions for house plants and cut flowers; customers can choose on their new website from price ranges based on the frequency of delivery.We’re also sure that one of their key success factors was a membership in the Cambridge Chamber of Commerce, where the shop has extended a special discount to fellow chamber members!
Retail Has Changed During the PandemicIf that isn’t an understatement, we don’t know what is! It’s time to say goodbye to traditional retail as retail has changed, and you may want to consider how your strategies should change too.We thought it would be useful to share a look at the retail trends of 2021 and look ahead at where retail is going in 2022. The folks at Lightspeed have prepared a downloadable free guide.
Learn More

Attention Women EntrepreneursEarlier this week, the federal government announced a call for proposals for new projects under the Women Entrepreneurship Ecosystem Fund, one of the initiatives of the $6 billion Women Entrepreneurship Strategy (WES).Under this new call for proposals, $25 million is available for projects that aim to remove systemic barriers and create more equal access to the resources that intersectionally diverse and underserved women in business need to succeed.To be considered, projects must be led by non-profit organizations, be national or multi-regional in scope and be focused on intersectionally diverse and/or underserved women entrepreneurs.Projects must also include a mentoring and networking component and should provide business development or capacity building and skills development to support:

  • start-ups
  • scale-ups
  • supplier diversity
  • recovery planning/adaptation

Consideration will also be given to projects that will contribute to strengthening the network of women entrepreneurship organizations in Canada.

Tax Matters: A Snapshot of Canada’s Tax CompetitivenessWe believe that economic growth is the only way Canada can make a sustainable recovery from the pandemic and that a more competitive, simpler and equitable tax system will be key to building a stronger economic future.Our newest report explores how Canada’s tax policies affect our ability to compete with the United States, specifically when it comes to attracting investment for projects like vaccine production, EV battery manufacturing and critical mineral extraction. Want to see how it all plays out?
NEW!The Business of Business with ZOOM’s Chief Information Officer, Harry Moseley!
UPCOMING EVENTS
Registration for Canada 360° Economic Summit 2022 – The Future of Economic Growth Is Now Open!February 9 | 9:00 a.m. to 5:00 p.m. ET | VirtualWe will set the stage for this future-focused day with a session with pollster Nik Nanos, who will discuss what Canadians think about economic growth. From there, we will launch into a number of other timely discussions on the future of everything from virtual connectivity, to diversity, to infrastructure and net-zero.We also look forward to hearing from the Bank of Canada’s Governor Tiff Macklem.
2022 Business Goals: Implementing Net-Zero, ESG & “Corporate Purpose”January 27 and February 24 | 11:00 a.m. to 12:30 p.m. ET | VirtualSocietal issues are now boardroom issues. Investors and other stakeholders are increasingly demanding that corporations move forward on net-zero and ESG.Join us for two upcoming sessions with the good people from Goodman Sustainability Group:

The Resilient Supply ChainJanuary 26 | 12:00 p.m. to 1:00 p.m. ET | VirtualThe ripple effect of increased shipping costs and a stretched supply chain is presenting significant challenges for both Canadian importers and exporters.  Join us for this in-depth panel discussion as we take a closer look at how both the pandemic and natural disasters have affected the movement of goods in Canada, mapped out along the pandemic timeline, through the lenses of both importers and exporters with insights provided by the Vancouver Fraser Port Authority representing Canada’s largest port, the Port of Vancouver.
GOOD NEWS AND BEST PRACTICES
It’s a Jungle out There…The owners of the Urban Jungle in Cambridge (ON) have really never known a business without pandemic restrictions. They bought an existing business and opened as owners in February 2020. Ugh…we all know the timelines weren’t in their favour. They had just taken over the business and were not eligible for government monies and the business was not yet online.To reassess, they shut the business down for two months and regrouped. By the end of the two months, they had a new website and a social media presence. They know that going online and delivery have been essential to their success.A new aspect of business? Weekly and monthly subscriptions for house plants and cut flowers; customers can choose on their new website from price ranges based on the frequency of delivery.We’re also sure that one of their key success factors was a membership in the Cambridge Chamber of Commerce, where the shop has extended a special discount to fellow chamber members!
Retail Has Changed During the PandemicIf that isn’t an understatement, we don’t know what is! It’s time to say goodbye to traditional retail as retail has changed, and you may want to consider how your strategies should change too.We thought it would be useful to share a look at the retail trends of 2021 and look ahead at where retail is going in 2022. The folks at Lightspeed have prepared a downloadable free guide.