Today, Trudeau addressed small business owners and entrepreneurs. This climate of uncertainty feels like it can threaten everything you’ve worked for.

To take that pressure off, the federal government will now cover 75% of wages for qualifying businesses through an adjusted wage subsidy (previously announced at 10%). This will help companies keep people on the payroll, to aid recovery. This will be backdated to Sunday, March 15th.

The Canadian Emergency Response Benefit (CERB) will still be there to help those who have lost their employment.

The federal government is also setting up the Canadian Emergency Business Account, which offers federal-government guaranteed loans of up to $40,000, interest-free for the first year, with up to $10,000 forgivable to qualifying companies. GST, HST and duty payments will be deferred (delayed) until June. Extra support will be provided to businesses involved in export.

Details will be made available soon (hopefully Monday), but know this is in the works. Additional measures are currently being worked out for youth, the vulnerable and the poor, and will be rolled out soon.

Canada as a nation needs to come back strong from this. Businesses will get the resources they need to support this. This wage subsidy allows businesses to keep their employees on the books, or to hire back those that have been laid off as a result of COVID-19.

The choices Canadians make RIGHT NOW will impact how long it will take us to emerge from this. Be responsible in your choices right now. Wash your hands, stay home, and practice physical distancing (two metres apart).