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For employers, we are getting more detail on the payroll subsidy:https://www.singleton.com/2020/03/covid-19-the-canada-emergency-wage-subsidy/
- $847 per employee per week or 75% of up to $58,700 salary, whichever is less
- Still retroactive to March 15 (so far)
- Expectation is that you don’t cut employee wages
- Business must demonstrate/prove a minimum revenue loss of 30%
- Federal government will be introducing severe penalties for abuse of the program
- Application process expected to be announced within the next 2 weeks
- No limit on business size
For those who were considering using the job-sharing option, this is now, for most businesses, a better option.
Next Steps: I have started building detailed 90-day business financial plans for some of you. This provides a specific list of actions based on your...
Business Owner Update - Friday March 27, 2020
Today the Federal Government and Bank of Canada finally made key announcements to help small businesses:
- Increased Payroll Subsidies up to 75% - This will be back-dated to March 15. No link or details yet on the limitations or qualification. I will get them to you as soon as they are posted. Here is the announcement https://twitter.com/i/broadcasts/1kvKpXdndQmKE
- Government guaranteed, interest free small business loans up to $40,000 – this is a program where, if you go to your bank to borrow money to get through the next few months, the government of Canada will be the guarantor. Under some circumstances (no details yet), 25% may become forgivable.
- Bank of Canada drops Prime Rate to 0.25% - this makes the cost of borrowing as close to “free” as it gets. This...
Posted on
March 27, 2020
by
Rob Campbell
Here is a new listing that I am happy to post at Calgary.
Wow! Great profitable pub in North Calgary with 4 VLT's
Lots of regulars with easy access to Deerfoot and McKnight Blvd. Located in a newly renovated shopping area with lots of parking. VLT's cover the lease, delivery and sales contribute to the net profit. Owner is retiring. Shows very well, book a showing today!
In talking to many of you this week, the number one emerging issue is stress. The rapid rate of change being imposed on us, our employees, suppliers and customers is unprecedented. The uncertainty regarding our health, both physical and financial, stemming from a dangerous virus racing around the globe is overwhelming many people.
The result is often emotional – anxiety, fear, and depression. This in turn impacts morale and mental health, both yours and everyone you work with – the ones working on-site, the ones working remotely and the ones now on EI waiting to come back.
They need your leadership. This is not the zombie apocalypse because we can do a lot to get this under control. Four things to consider:
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Calgary and Edmonton are very different from New York or Milan who have 7.5-10,000 people per km2. We have...
We at Misura Berteit & Associates understand that the events of the last few weeks have left a lot of “unanswer-able” questions. While we don’t have the answers, we do feel that there are some resources available out there. We encourage you to review and keep informed with the latest updates:
1. Government of Canada’s website: Coronavirus disease (COVID-19): Resources for Canadian Businesses: https://www.tradecommissioner.gc.ca/campaign-campagne/ressources-entreprises-COVID-19-business-resources.aspx?lang=eng
2. Government of Canada’s website: Canada’s COVID-19 Economic Response Plan: Support for Canadians and Businesses: https://www.canada.ca/en/department-finance/news/2020/03/canadas-covid-19-economic-response-plan-support-for-canadians-and-businesses.html
3. Government of Alberta...
Today’s Government Announcement: No new Federal support announcements today from our PM. The focus today will be passing emergency measures that give the federal government broader powers to spend money, redirect economic activity and implement further restrictions.
Ontario and Quebec are locking down their provinces at the end of today, except for essential services. ATTACHED IS A LIST OF ESSENTIAL BUSINESSES IN ONTARIO. On this list is every one of my clients’ business types are included. Most businesses engaged or supplyingConstruction, Manufacturing, Real Estate, Food, Healthcare and Transportation, among others, are all on the list. The good news here is that if this becomes the template for other provinces, most of you will be able to continue operations – but please do it SAFELY.https://open.alberta.ca/publications/c...
Posted on
March 20, 2020
by
Kim Nutz - Sunstone Legal
The past two weeks have been surreal. Many employees and employers are hanging on by a thread, mentally and financially. Many employees worry if they will have jobs or receive enough hours to pay their bills. Employers are being forced to close, or scale back their services, all the while still having to pay their rent, taxes, and payroll, while the market for many services is simply on hold. What can employers do to keep their head above water, while still trying to do the right thing by their employees? There are now some options.
1. COVID-19 Leave of Absence (Alberta Employment Standards Code):
Unpaid 14 day leave of absence due to Quarantine. Contact me to discuss as the Government has been quite particular as to who qualifies for this leave of absence.
2. EI Sickness Benefits (Employment Insurance Act):
An employee can apply for EI Sickness Benefits for up...
Suggested Blog Articles
Here is a new listing that I am happy to post in Township 244 Road in Rural Rocky View County.
STUNNING ROCKY MOUNTAIN VIEWS. This land has been in the same family since 1936. Not very often does a property of this type come to market. With a total of 90.36 acres(+/-), it has one of the most spectacular views of the Rocky Mountains in the area. The potential building site gives you a 180 degree panoramic view, it is absolutely breathtaking. The attached photo's don't do the view justice, you really need to see it in person. We are happy to set up an appointment for you to come out and view this once in a lifetime opportunity to own 90ac that is 16km to Calgary and only 33 km from downtown.
Here is a new listing that I am happy to post in Calgary, Calgary.
A One-Of-A-Kind Restaurant in Southern Alberta! Land, Building and Business!
When you are in the restaurant business, you always look for how you can make your establishment different from your competitors, a way to stand out from the crowd. This is one of those places, a step back in time to an era of good food and simpler times. If you like small town life and love the restaurant business you will fall in love with this location.
This funky restaurant is situated on one of Alberta’s busiest highways, with HUGE drive by traffic. It has lots of parking and room for a patio if you want to put one in. The menu is diner style comfort food, and can be scaled to whatever size you want. You can run what ever hours you would like, but there is traffic at all times of the day and night. There is also the potential for a drive thru if you wanted to look at that business model, the possibilities are endless.
If you like the idea of living in a small town, this is an opportunity that you really need to look at, call for an appointment to tour it soon…don’t miss out!
Here is a new listing that I am happy to post in 6515 Bowness ROAD NW in Calgary.
Located in one of Calgary's fastest changing communities, this is a great standalone restaurant building. You could maintain the current concept or change it to your own vision. It has a great front dining area with lots of natural light and a very strong curb appeal. There is lots of street parking right out front, as well as, parking in the rear of the building.
The kitchen is large well equipped, and can handle a large food volume concept. Because of its location you could do catering to a large portion of the city very easily. There is a second-floor office area with TONS of storage as well.
The patio is large and very comfortable, and is fully licensed. It is a very popular spot during the warm summer months and is a great profit center. |