This resource was last updated on May 27, 2020. We’ll continue to update it as new information and resources emerge.
In a time of uncertainty, collective precautionary measures help us to flatten the curve in hopes of minimizing the spread of coronavirus (COVID-19). But self-quarantine and social distancing may demand a shift in your company’s working culture, imposing unforeseen pauses in workflow and revenue.
Founders and business leaders, you’re not alone. If you’re wondering what supports are out there to keep your business competitive, we’ve compiled a list of resources to keep you going through an unpredictable quarter.
Looking for information on the Canada Emergency Response Benefit (CERB)? Click here.
Become part of the solution
- The COVID-19 Collaboration Platform, is seeking innovators with technology, assets, or products to collaborate on COVID-19 solutions.
- Put your coding chops to use in CODEVID-19’s “pandemic hackathon”, where developers and designers, can contribute to creating solutions to manage and understand the current climate.
- Innovative Solutions Canada has launched a series of COVID-19 related challenges with funding available for innovations to fit select needs.
- The Canadian Centre for Product Validation is able to assist industry with production challenges related to COVID-19 responses, including prototyping, enhanced production processes, repurposing of existing manufacturing infrastructure for production of new products, and data analytics relating to the COVID-19 outbreak.
- CENGN is now accepting validation and testing projects from businesses seeking to validate a networking product that addresses COVID-19 issues, including cloud computing and big data solutions, as well as solutions that enable remote work.
Establish a plan
- MaRS has created a collection of resources to address coronavirus communications and business management specifically with making strategic and effective decisions in mind.
- Use BDC’s business continuity plan templates to plan around disruptions in your business operations.
- For investors, the time is now to get a handle on your ventures’ cash runway and ensure they are prepared for what’s to come. Dennis Ensing of SWO Angels/Equation Angels has developed a battle plan.
- KPMG has released a robust business continuity guide for leading in turbulent times. Download the checklist and step-by-step guide here.
- BDO’s resource hub offers strategies to prepare for, and respond to, the impacts on your business, as well as the right contacts to guide you through each step.
- Paystone is helping businesses take their sales online. Access their eCommerce payment gateway for free for six months.
- For best practices to take back to your business community, join the Canadian Council of Innovators (CCI)’s COVID-19 Slack channel.
- rtraction and partners have put together a series of informative videos for companies rapidly transitioning to ecommerce due to COVID-19.
- TechAlliance’s Peer-2-Peer Groups have switched to virtual meetings, and are now open to all members of the community. Find a group and sign up to connect with your colleagues.
- Ontario SEO is offering Local Google My Business Support , by providing a free Google My Business Audit
- $15 million in new support for women entrepreneurs has been announced by Mary Ng, Minister of Small Business, Export Promotion and International Trade. The additional funding will be provided through the Women Entrepreneurship Strategy (WES), and will go directly to select organizations that are currently WES Ecosystem Fund recipients.
- New federal funding focused on supporting technology, manufacturing, and tourism businesses, as well as large companies in smaller communities, as been announced through the Regional Relief Recovery Fund.
- The Government of Canada has introduced the Work-Sharing Program for employers affected by a downturn in business activity.
- Innovation Canada’s resource finder makes it easy for you to customize the support your business needs. Sort by needs including funding, tax credits, goals, and more.
- Applications for the Canada Emergency Response Benefit (CERB) are open as of April 6, 2020. Individuals who have lost their income and do not qualify for Employment Insurance (EI) are eligible to apply in 4-week periods.
- The Business Credit Availability Program (BCAP) will provide $10B in credit support for Canadian businesses. Entrepreneurs can access small business loans, working capital loans, and purchase order financing through the Business Development Bank of Canada (BDC). Canadian exporters can learn more about additional financing options by speaking with an Export Development Canada (EDC) advisor. Additional financial support as necessary.
- Find more information on the Canada Emergency Business Account ($40,000 loans, interest-free until December 31, 2022) and the SME Loan and Guarantee Program through BDC.
- Canada Emergency Wage Subsidy has emerged several questions regarding eligibility. CCI has compiled a list of frequently asked questions to help employers self-assess:
Is there any cap to the Canada Emergency Wage Subsidy?
The Canada Emergency Wage Subsidy would apply at a rate of 75 per cent of the first $58,700 normally earned by employees – representing a benefit of up to $847 per week. The program would be in place for a 12-week period, from March 15 to June 6, 2020.
What employees are eligible?
Payroll employees including full and part-time as well as those on Parental leave.
How is the government identifying the 30% decrease in revenues?
Employers who suffer a drop in gross revenues of at least 30 per cent in March, April or May, when compared to the same month in 2019, would be able to access the subsidy.
Is this program for a particular sector or company size? Does it support only Canadian Controlled Private Corporations?
Eligible employers would include employers of all sizes and across all sectors of the economy, with the exception of public sector entities
How do business access the Canada Emergency Wage Subsidy?
Eligible employers would be able to access the Canada Emergency Wage Subsidy by applying through a Canada Revenue Agency online portal. More details regarding how to apply for the program will follow.
What if our company doesn’t qualify for the Canada Emergency Wage Subsidy?
Those organizations that do not qualify for the Canada Emergency Wage Subsidy may continue to qualify for the previously announced wage subsidy of 10 per cent of remuneration paid from March 18 to before June 20, up to a maximum subsidy of $1,375 per employee and $25,000 per employer.
- Read the final details on the Canada Emergency Wage Subsidy (April 14, 2020) as published by BetaKit
- The Federal Government has announced $250 million to support early-stage technology startups that didn’t qualify for previous relief programs, with applications opening on April 22. They are also committing an additional $962 million to the Regional Development Agencies and the Community Futures Network.
Find a financial solution
- EDC’s Global Economic Outlook offers insight on risks and challenges facing Canadian exporters
- Canada Revenue Agency is also allowing businesses to defer income tax payment amounts.
- Canada’s six largest banks; Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, and TD Bank, have announced a commitment to work on a case-by-case basis with small business banking customers to provide flexible solutions to help them manage financial challenges and disruptions due to COVID-19.
- MNP’s COVID-19 Business Advice Centre has tips and directions for companies developing a financial plan to navigate the crisis.
- Find an extensive list of active funders in Canada (equity, lenders, government) in this resource from Hockeystick.
- Facebook has committed $100M for cash grants and ad credits for small businesses for up to 30,000 eligible small businesses. Sign up to get notified when applications open.
- Google is distributing $340M worth of Google Ads credits worldwide to support SMBs.
- KPMG has assembled tips to help companies with complex property and business interruption insurance claims related to COVID-19.
For first-time remote teams
- Shifting gears to the laptop lifestyle? According to the remote engineering partners at Commit, it’s all about over-communication, setting boundaries and diligent documentation. Give the article they authored for BetaKit a read to set the foundation for your team.
- Techdoz has launched London Tech Tools to help organizations settle into a new way of work
- How does remote work fits into your company’s culture? Zapier’s handbook provides helpful considerations, including hiring remote candidates, relationship-building, and boosting productivity.
- Physical distance shouldn’t stand in the way of your professional development. More organizations are shifting their programs online. Take a look at this list of workshops and events in the Canadian and US tech ecosystem.
TechAlliance is hosting webcasts to help our community respond to the business challenges created by the COVID-19 virus. Please check out the videos below, and visit our Events Calendar for upcoming webcasts and online events.
- MaRS Discovery District held a webinar with Robert Bolton from Later to discuss how to capitalize on change and become resilient in the face of disruption.
- Hon. Doug Ford, Premier of Ontario, and Hon. Vic Fedeli, Ontario’s Minister of Economic Development, Job Creation and Trade. Premier Ford and Minister Fedeli provide an update on Ontario’s $17B response to COVID-19 and Ontario Together, an online portal which welcomes the help from businesses and organizations who can supply emergency products and innovative solutions to support our response to COVID-19. Listen here. (Tuesday, March 31 at 9:00 am)
- The audio from Canadian Council of Innovators calls with government leaders is available on their Soundcloud.
- OCE has posted the video of a webinar on Rebuilding Local Supply Chains: Mask Manufacturing from May 19.
- In this stressful time for you and your employers, Michael Gervais offers some helpful advice on maintaining your mental health and managing stress.
- For updates to keep informed about the current state of COVID-19, subscribe to the Public Health Agency of Canada’s email list.
- The World Health Organization (WHO) has launched a public WhatsApp channel to answer any questions you may have.
- Misinformation about coronavirus can spread just as quickly as information from a trusted source. Harrison Pensa has compiled a list of resources rooted in science and security.
- The League of Innovators has launched a living library of resources for Canadian startups.
- RBC has launched resource pages for Businesses and Individuals.
- LeClair and Associates are hosting a three-part webinar series Hitting the Reset Button: Preparing for the Post-Pandemic Workplace, starting May 20, to help companies prepare for a return to work. You can watch the first part here.
If you’re an entrepreneur seeking support to keep your business competitive in the midst of our current public health climate, we encourage you to reach out to a TechAlliance advisor. Our Venture Growth & Corporate Innovation is ready to help you plan for action.