It is a harsh reality that the impact of COVID-19 on small businesses is devasting. The small business owners due to the shortage of cash flow have been forced to shut down operations and lay off the employees.
The backbone of the country is broken and shattered and is in much need of public support and government assistance. The government of Canada and provincial and territorial partners are talking of taking strong, immediate, and effective action to protect Canadians and especially the small businesses from the impacts of the COVID-19 pandemic.
The Prime Minister, Justin Trudeau, announced that the federal government has reached an agreement in principle with all provinces and territories to implement the Canada Emergency Commercial Rent Assistance (CECRA) for small businesses. This program is meant to lower rent costs by 75 percent for small businesses that have been affected by COVID-19... [read more]