Bulletin: October 29, 2020

Today’s Top Story

Chief Economist Trevin Stratton: “The Long Road Ahead: Canada Must Recoup 100,000 New Businesses To Fully Recover”

Yesterday’s economic numbers demonstrated that Canada is facing a prolonged K-shaped recovery. Our economy did not contract as much as expected during the first wave of COVID-19 but, with the second wave in full effect, our economic recovery will take much longer than initially anticipated, particularly for the hardest hit sectors.

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Watch Dr. Stratton On PrimeTime Politics

For Your Attention

Businesses Using A Personal Banking Account Can Now Apply For CEBA

As first announced by Prime Minister Trudeau at our AGM & Convention on Monday, businesses that use personal bank accounts to operate may now apply for a CEBA loan. Contact your primary financial institution to apply.

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Canada Life Business Boost Program To Give 12 Small Businesses Across Canada A One-Time Grant Of $10,000

Recognizing that small businesses are facing adversity during COVID-19 and that many are facing significant challenges and struggling to keep their doors open, this week, Canada Life announced its Business Boost program to provide small businesses with financial support that could help make all the difference. Canada Life is offering 12, one-time grants of $10,000. Applications are due November 12.

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Digital Technology Supercluster Makes $10M+ Investment

The Digital Technology Supercluster has made $10.7 million in follow-on investments to five projects under its COVID-19 stream, rounding out the Supercluster’s $60-million budget for the pandemic-focused program. The COVID-19 program was created at the beginning of the pandemic to invest in digital solutions that protect the Canadian economy as well as public health.

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Takeout Will Not Save The Restaurant Industry: Firkin Pubs’ Honest Take On What The Industry Is Facing

The restaurant industry has been decimated by closures since March 2020, and the approaching months could be grim for many restaurants, Firkin Pubs included. Restaurants have survived the past six months without any certainty that there will still be a neon open sign for all of us at the end of the tunnel.

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Insurers Stepping Up To Help Small Businesses In Ontario

To help struggling small businesses in Ontario secure insurance during COVID-19, the Insurance Bureau of Canada (IBC) is announcing the launch of a new Business Insurance Action Team (BIAT) to help to find viable insurance solutions for as many small businesses in Ontario’s hospitality sector as possible. The BIAT will launch in November. In the meantime, IBC encourages small business owners facing challenges to visit businessinsurancehelp.ca or call its Business Insurance Helpline at 1-844-2-ask-IBC.

Learn How Eurofins, Salesforce And TELUS Have Responded To COVID-19

Our AGM & Convention, which took place online from October 26-27 featured three interviews with business executives from Eurofins, Salesforce and TELUS. In these videos, Eurofins discusses how it is testing wastewater to provide early warnings of potential COVID-19 outbreaks. Salesforce talks about how it is supporting small businesses, and TELUS discusses the role broadband plays in our economic recovery.

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Free Upcoming Events

November 2 | Financial Wellness And Resiliency In The Age Of COVID-19, With Canada Life

The times have changed, and so has Canada’s financial landscape. In this webinar, Hugh Moncrieff, Executive Vice-President, Advisory Network and Industry Affairs for Canada Life, will discuss how COVID-19 has changed financial services in Canada and how advisors have adapted to help ensure Canadians, like you, are financially prepared for the future.

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November 4, 1:00 P.M. ET | Learn More About The 10% Temporary Wage Subsidy For Employers (TWS)

The TWS is a three-month COVID-19 relief measure that allows eligible employers to reduce the amount of federal, provincial, or territorial income tax they need to remit to the CRA. The CRA is hosting a webinar so you can learn more about the TWS and who is eligible.

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November 9, 1:00 P.M. ET | Preparing For Smart And Sustainable Growth To Benefit Canadian Businesses, With The Vancouver Fraser Port Authority

As the agency responsible for the stewardship of Canada’s largest port, the Vancouver Fraser Port Authority works in the interest of all Canadians, developing vital trade-enabling infrastructure to support future trade demands and, in turn, benefit businesses across Canada. Join Robin Silvester, President and CEO of the Vancouver Fraser Port Authority, as he shares its plans for smart and sustainable growth at the Port of Vancouver.

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November 12, 1:00 P.M. ET | The Role Of Technology For Business Transformation In A Post-Covid Economy, With TELUS

Our conversation with Navin Arora, President Business Solutions at TELUS, and Pau Castells, Director of Economic Analysis at GSMA, will examine how 5G will revolutionize and transform business operations, influence customer revenues and improve productivity and operational expenses for businesses as well as safety and security. They will also discuss how investment in 5G technology will add $150 billion to the Canadian economy over the next 20 years.

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View Other Upcoming Webinars

How We’re Helping Canadian Business

Watch TVO The Agenda With Steve Paikin With Our Trevin Stratton

With Ontario in in the midst of a COVID-19 second wave, the economy is still in a fairly desperate condition. To debate how to grow the economy in a post-pandemic world, The Agenda featured a panel of economic minds including Trevin Stratton, our Chief Economist; Jim Stanford, Director of the Centre for Future Work; Armine Yalnizyan, Economist and Atkinson Fellow on the Future of Workers; and Pamela Cross, Tax Partner at BLG.

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Taken A Look At The Canadian Business Resilience Network Site Recently?

Our CBRN website has lots of content for businesses as we position ourselves to face Wave 2 of COVID-19. Our EBS partner TruShield has prepared information on Why Small Businesses Should Re-evaluate Their Insurance Policies.

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Get Additional Tools And Resources

A #TeamCanada Approach

FIFE4LIFE (Feed It Forward Everyone…Live In Freedom Everywhere)

FIFE4LIFE is a pay-it-forward food program designed to offer free choice, easily obtainable cooked meals to anyone in need ‪24/7. ‬‬Patrons of participating FIFE4LIFE restaurants purchase, separately, a food item or a meal from the menu for people in need and pay that meal receipt forward. This program allows the public to feel helpful within their community, knowing they are helping to feed their fellow citizens while also supporting their local eateries.

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