Business News and Updates

Here are some of the latest news and updates for your business. Want updates directly to your inbox? Sign up for the Northern Lights Business Newsletter here!

  

Government of Canada Hardest Hit Businesses and Tourism Recovery Fund

Tourism Recovery Fund: Provides support through the wage and rent subsidy programs, to hotels, tour operators, travel agencies, restaurants, and others.

  • Subsidy rate of up to 75% from October 24, 2021 – March 12, 2022.
  • Subsidy reduced by half from March 13 – May 7, 2022
  • Eligible organizations must meet 2 conditions:
  1. Average monthly revenue reduction of at least 40% over the first 13 qualifying periods for CEWS (12-month revenue decline)
  2. Current month revenue loss of at least 40%
  • Qualifying period is March 2020 – February 2021.
  • Program runs from October 24, 2021 – May 7, 2022.

 

Hardest Hit Businesses Recovery Fund: Provides support to organizations not eligible for the Tourism and Hospitality Recovery Program that have been deeply affected since the start of the pandemic.

  • Subsidy rate of up to 50% from October 24, 2021 – March 12, 2022.
  • Subsidy reduced to half from March 13, 2022 – May 7, 2022.
  • To be eligible must follow a “two-key” eligibility system.
  1. Company must demonstrate revenue loss of at least 50% over the course of 12 months of the pandemic.
  2. Current month revenue loss of at least 50%.
  • If faced with temporary new local lockdowns businesses will be eligible for up to the max amount of the wage and rent subsidy programs, during the local lockdown, regardless of losses during the pandemic.
  • Program runs from October 24, 2021 – May 7, 2022.

 

Tourism Relief Fund

The Tourism Relief Fund, administered by Canada’s regional development agencies and Innovation Science and Economic Development Canada (ISED), supports tourism businesses and organizations adapting their operations to meet public health requirements while investing in products and services to facilitate their future growth. 

 

InvestAlberta: Alberta Opportunity Book 

The Alberta Opportunity Book (the “Opportunity Book”) is a pilot project to enable Alberta’s international offices to promote active Alberta high-value, high-impact investment opportunities. Established Alberta businesses looking for capital are welcome to complete a submission form to be added to the Opportunity Book. The Alberta Opportunity Book is being created as IAC is frequently asked what investment opportunities exist in Alberta. All content will be updated on a quarterly basis.

 

Start Up Canada Business Owner Toolbox

Start Up Canada has launched a free online tool called the Business Owners Toolbox. The toolbox is a central hub that provides a comprehensive package of foundational knowledge, access points, and resources required to start and scale a business in Canada.

 

Canada Digital Adoption Program

The Canada Digital Adoption Program (CDAP) provides support to Canadian small and medium-sized enterprises (SME's) to boost their e-commerce presence and digitize how they run their business. Businesses can apply for 2 types of funding; 

  • Stream 1 Grow Your Business Online: Microgrants to help you go digital and take advantage of e-commerce and access digital experts to introduce you to and help use online tools.
  • Stream 2 Boost Your Business Technology: Grants to cover the cost of advisors who help plan how to take your business to the next level through digital solutions and access to digital advisors and government-funded youth placements to help with digital transformations.

Applications are not yet open, subscribe for Stream 1 updates here, and Stream 2 updates here.

 

 

Restrictions Exemption Program (REP) Funding

The grant provides $2,000 for eligible small- and medium-sized organizations that choose to implement the Restrictions Exemption Program. Apply online and get more info here.

 

Updated April 14th, 2022

Menu