On April 17, 2020, the federal government announced new measures that are intended to aid businesses that may have “fallen through the cracks” and be ineligible for the Canada Emergency Wage Subsidy and the Canada Emergency Business Account.
In particular, the government will provide $962 million to Canada’s Regional Development Agencies and the Communities Futures Network. The government has indicated these funds are being provided to help ensure that more businesses, especially small businesses and businesses in rural areas, are getting the financial help that they need to cope with the COVID-19 pandemic.
Further, the government will provide Heritage Canada with $500 million to support the arts, culture, and sports sectors. This measure will provide wage support to people working in these sectors and will help businesses in these sectors that are experiencing cashflow issues.
Finally, the government announced that it will provide roughly $270 million to help entrepreneurs, innovators, and pre-revenue firms through Futurpreneur Canada and the Industrial Research Assistance Program.
The government has yet to provide details on these new measures, but we will provide updates as they become available.
This blog is provided as an information service and summary of workplace legal issues. This information is not intended as legal advice.