Help for small and medium-sized businesses

As the number of newly infected in many countries has begun to decline and the number of cured on a daily basis is higher than the number of newly infected people in the last few days and weeks, many prime ministers and presidents are beginning to think about revitalising the most important element of every country, which is the economy. Of course, there are also theories that this whole pandemic was part of a global conspiracy, and even there are many interviews, among them, say, with a German doctor who said that if tests on the corona virus stopped, then the virus would disappear! Anyway, except that it can be noticed all over the planet that the air is cleaner, the sky is brighter, the birds are more beautifully chirping, and the fish appear in seas where they have not been for decades. Whether the pandemic is real or a conspiracy, it is obvious that nature has healed itself while humans have been dormant in terms of economy and headless profit, it is obvious that too, after all, when it starts to go back to previous (normal???) state, need to help those who have lost in the economy during this break. Thus, many countries announce one-time grants for all adult citizens, but these are smaller countries and some larger ones. Others, again, announce different types of incentives for SMEs, because clearly these are most affected by this break in business, these are small family businesses that families live in, big corporations will easily survive, as always!

So is Prime Minister of Canada, Justin Trudeau has announced a new assistance program designed to help businesses offset the monthly rent. The Canadian emergency commercial rental assistance program will help small businesses offset the rent in April, May and June, Trudeau said during his daily address COVID-19. Ottawa will work with the provinces to implement the program, as it falls under provincial jurisdiction. The announcement was made in collaboration with plans to ease eligibility requirements for the Canadian Emergency Business Account (CEBA) in order to help more small and medium-sized businesses face the fallout from the pandemic. The CEBA will now cover companies that spent between $ 20,000 and $ 1.5 million in paychecks last year, Trudeau said. Previously, the threshold for businesses was a minimum wage of $ 50,000 and a maximum of $ 1 million.

"We are expanding Canada’s emergency trade account by raising and lowering the eligibility threshold,”.

“Companies that spent between $ 20K and $ 1.5 million in total paychecks in 2019 will now be eligible.”

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© 2011 BY Shanique Byrd