Advisory

(Last updated: May 21st,  2020, at 12:38 PM PDT)   The Mount Pleasant BIA is committed to posting the most up to date info that we can find to help all people in Mount Pleasant navigate these trying times. Here are links to info, programs and support. Please share. We will be updating on our social media as well. Link to Federal Government’s COVID Response with additional links for staff, employers and small business. If you have questions, or information that will benefit our members, please send to neil@mpbia.ca

Important from Provincial Health Officer regarding opening

Worksafe BC’s Guide to reopening. Very Important

 

The Federal Gov’t has announced Commercial Rent Relief for Small Businesses :

Federal Commercial Rent Support

Small Business Rental Support Info

A series of webinars to assist and guide small business owners during the Corona Virus Shutdown

New:  Board of Trade Update : April 6th

New : City of Vancouver’s Covid Support for Business

NEW: Link to Hydro Relief

Webinars for Small Business:

NEW: Federal Wage Subsidy Info

NEW: Additional Wage Subsidy info

NEW!! BC Gov’t News Release March 22nd Canadian Gov’t COVID Response

BC Relief Measures: CFIB

Federal Gov’t Relief Measures: CFIB

COVID 19 Resources : Small Business BC

City of Vancouver Response Info

Vancouver Coastal Health

BDC Small Business Loan Info

A really great link to Google Doc that walks you through applying for EI

BC Center For Disease Control Website They have provided all of the information that you need at this point. During these times of uncertainty please stay safe and healthy.  Please keep in mind this is a fluid and rapidly changing situation. At this time, due to low transmission in BC, all levels of government have recommended that business can continue providing efforts are made to keep a one metre distance as often as possible. There are no recommendations at this time at adjusting operating hours for your business. This might change, so check back.

 

Key considerations

  1. Support your Employees. No employer should feel like they have to lay off a worker because of the virus, and no one should have to worry about their job if they have to be quarantined. That’s why the Government of Canada’s $1 billion COVID-19 Response Fund goes towards support for employers and workers through the Work-Sharing program, and by waiving the one-week waiting period for Employment Insurance sickness benefits.
  2. Financial Implications and Business preparedness The Canadian Chamber of Commerce, as well as Business Development Canada, has developed helpful and comprehensive guides to help you with planning and preparedness. Business Development Bank Link
  3. Business Travel and Event Companies should consider the impacts of international travel on their operations. Canada has several active travel health notices for COVID-19 for countries around the world. These are updated regularly based on ongoing risk assessments.

Read here for more details on the above.

Trends

  • Workplaces and communities should be practicing social distancing.
  • Restaurant reservations are down to 33%.
  • As of March 1st, business on the books for air reservations made until the end of the year for flights to Vancouver is down by -5.2% overall. Priority markets of concern include Australia, Germany, Japan, Mexico, and China.
  • March and April are expected to experience sharp declines in bookings (-22% for the month of April). China is particularly affected because of the continued travel advisory and flight cancellations.
  • Group travel and VFR (visiting friends and relatives) are more heavily impacted overall
  • Local organizers can expect that Chinese, Japanese and Italian nationals will not be travelling to attend global events, due to travel and other restrictions
  • It is important to note that wherever possible events are being rebooked rather than cancelled, however in-house hotel conventions are experiencing some cancellations.
  • Globally, business travel is anticipated to slow due to corporate travel policies putting restrictions in place.
  • Whenever possible, booking agent and cruise lines are working collaboratively to encourage re-bookings (rather than cancel trips
  • On a positive note, the Port of Vancouver has accepted 10 additional sailings for 2020 as of late February. While international bookings are declining, we may see a possible increase in both domestic and U.S. passengers. The cruiseship season has been deferred but not cancelled.

Checking for symptoms If you or someone you know is experiencing possible COVID-19 symptoms, call your local primary care provider or 8-1-1. Those who are deaf or hard of hearing can call 7-1-1. You can also conduct an initial self-diagnosis at the provincial government’s HealthLinkBC page.

RESOURCES

Whether it is a public health issue, natural disaster, or other emergencies, it is important to be prepared and ensure you have an up-to-date business continuity and disaster recovery plan. Here are some other resources to assist you in your planning. Information and Planning Sources

Business

Checklists

Guides

Templates and Tools

Dedicated Number for Immediate Access to Employment Insurance Benefits The one-week waiting period has been waived for employees who are in quarantine or who are ordered to self-isolate. Employees in quarantine who wish to get the one-week waiting period waived are to call: 1-833-381-2725.

COVID-19 Update: Federal government announces $82 billion support package
Today, Prime Minister Justin Trudeau announced a $82-billion aid package to help Canadians and businesses cope with the global COVID-19 pandemic, including income support, wage subsidies, and tax deferrals.   The package includes $27 billion in direct support and another $55 billion to help business liquidity through tax deferrals.   This $82-billion aid package is in addition to a $1 billion COVID-19 response package and supports for business already announced by government. On March 13, the federal government also announced the establishment of a $10 billion credit fund to lend money to businesses to help them continue operations.   It will take some time for the new economic measures to be implemented. During this morning’s press conference, however, the Prime Minister said that Parliament could be recalled as early as next week to pass legislation bringing in the fiscal measures. Financial support should start flowing in weeks.   The stimulus package joins various provincial-led efforts across the country. Notably, it is a major shift in Canada’s social support architecture – providing more direct funding to Canadians and bypassing traditional jurisdictional channels and areas of responsibility.   Economic Stimulus Measures Announced   The economic response plan announced today can largely be broken down into four categories:

  1. Support for business
  2. Support for workers
  3. Supportive tax measures
  4. Support for vulnerable groups

We have provided a high-level overview of categories 1-3 below. You can find all measures announced today here.
Support for business

  • All businesses are allowed to defer, until after August 31, 2020, the payment of any income tax amounts owed between March 18 and before September. This applies to balances and instalments due. No interest or penalties will accumulate.
  • Increase credit available to small, medium, and large Canadian businesses. As announced on March 13, a new Business Credit Availability program will provide more than $10 billion of additional support to businesses experiencing cash flow challenges.
  • Further expand Export Development Canada’s ability to provide support to domestic businesses.
  • Provide flexibility on the Canada Account limit, to allow the Government to provide additional support to Canadian businesses, when deemed to be in the national interest, to deal with exceptional circumstances.
  • Launch an Insured Mortgage Purchase Program to purchase up to $50 billion of insured mortgage pools through the Canada Mortgage and Housing Corporation. As announced on March 16, this will provide stable funding to banks and mortgage lenders and support continued lending to Canadian businesses and consumers.
  • The six largest financial institutions in Canada have also made a commitment to work with personal and small business banking customers on a case-by-case basis. This support will include up to a 6-month payment deferral for mortgages and the opportunity for relief on other credit products.

Full measures can be found here.
Support for workers

  • Emergency Care Benefit: up to $900 biweekly, up to 15 weeks, income support for workers, including the self-employed, who have to stay home and don’t qualify for paid sick leave or employment insurance.
  • Emergency Support Benefit: up to $5 billion in support to workers who are not eligible for EI and who are facing unemployment.
  • EI waiting period waived: the mandatory one-week waiting period for EI sickness benefits has been waived for workers in imposed quarantine or who have been directed to self-isolate.
  • No medical certificate is required to access EI sickness benefits
  • 10% wage subsidy: provide eligible small businesses a 10 percent wage subsidy for the next 90 days, up to a maximum of $1,375 per employee and $25,000 per employer. Eligible businesses include corporations eligible for the small business deduction, non-profit organizations, and charities.

Full measures can be found here.
Supportive tax measures

  • Extend tax filing deadline to June 1 and allow all taxpayers to defer, until after August 31, 2020, the payment of any income tax amounts that became owing on or after March 18 and before September 2020.

Full measures can be found here.

Hello Mount Pleasant BIA! You are no doubt aware of the Coronavirus by now. The World Health Organization has declared it a pandemic. We want to provide you a link to the BC Center for Disease Control, our Province’s best source of information concerning the Covid-19 virus. BC Center For Disease Control Website  They have provided all of the information that you need at this point. Prepare your organization and business to meet the rapidly changing conditions.  We are seeing impacts on the travel, sports and conference business, which will be felt throughout all businesses. All business is connected in one way or another.  Be nimble in your plans, and adapt quickly to changing conditions. Our office is open and available to help in any way we can. When in doubt……wash your hands!!