(Ian Gustafson/paNOW Staff)

By paNOW Staff

Funding

Government announces additional support program for small businesses

Apr 9, 2020 | 3:47 PM

Saskatchewan small businesses will be receiving additional financial support from the provincial government.

The government is implementing a $50 million program through the Saskatchewan Small Business Emergency Payment (SSBEP). It will help small and medium size businesses which have temporarily closed or had operations curtailed because of the COVID-19 pandemic.

“We have heard from our business community and understand the unprecedented challenges that they are facing,” Premier Scott Moe said. “Our government is providing critical support for businesses that have had to fully or partially close their doors to protect public health and reduce the spread of COVID-19. This is a significant first step in our economic recovery efforts and we are committed to continuing to work with businesses through this uncertain time.”

The program will be providing a one time grant to the businesses affected by the government’s public health orders due to the coronavirus. Businesses will be given the grants based on 15 per cent of monthly sales revenue up to $5,000. The grant is not dedicated to any specific cost pressures. Government spokespersons said during the consultation process business owners made it clear they’re facing multiple costs including rent and lease payments.

To be eligible for the SSBEP, a business must:

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• have been fully operational on February 29, 2020;

• have ceased or curtailed operations as a result of the COVID-19 public health order;

• have less than 500 employees; and

• commit to reopen business operations following the cancellation of the COVID-19 public health order.

The Government of Saskatchewan will be requesting the federal government exempt the SSBEP from business income for tax purposes.

The additional funding comes on the heals of Statistic Canada report which shows more than one-million people lost their job last month in the country – a 40 per cent jump from February. Saskatchewan lost 21,000 jobs in March.

Minister of Trade and Export Development Jeremy Harrison said the grants will ensure the province has small businesses to help with economic recovery once the challenges caused by the pandemic start to diminish.

“Our jurisdiction is likely one of the best positioned in the entire world in terms of recovery. We have what the world needs, whether that be food, whether that be fertilizer or energy. We have what the world is going to need to recover and rebuild and we are going to be prepared as a government under the premier’s leadership to be there when we get on the backside of this pandemic,” Harrison said.

Further details and applications will be available on April 13. For more information, businesses can visit www.saskatchewan.ca/covid19-businesses.

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panews@jpbg.ca

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