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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...
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Here is a new listing that I am happy to post in 2820 Centre STREET NE in Calgary.
**PERFECT OPPORTUNITY FOR A RESTAURANT OWNER OPERATOR OR A MIXED USE DEVELOPER** Here is a rare opportunity to purchase a recently renovated, fully fixtured 6,000 sqft(+/-) restaurant or a prime redevelopment site on Centre Street North, located in the sought after community of Tuxedo Park. This 11,022 sqft(+/-) corner lot is located on the future Green Line LRT Route, within close proximity to a proposed station. The current zoning of Commercial - Corridor 2 (C-COR2 f1.0h10) allows for a wide variety of potential uses including; Pet Care, Restaurant, Veterinary Clinic, Brewery/Winery/Distillery, Carwash, Child Care, Drive Thru.
The renovations to the space were recent and of a very high quality, and make it VERY easy for a restauranteur to come in and open quickly with minimal renovation costs. The building is split into two sections, an up and lower area, served by a common kitchen. You could set the building up as a restaurant/lounge with VLT’s or you could run 2 completely different restaurants, in two different spaces. One side has a patio, and the upper section has a great balcony for small bistro tables. There is parking out front with a portion of that being covered, as well as a pylon sign on the roadside. The kitchen is very well laid out with solid infrastructure capable of produce consistent volume to service the building as well as the very strong delivery market in the surrounding area.
There is too much to cover here, please call to make an appointment to view this great opportunity!
Here is a new listing that I am happy to post in Calgary, Calgary.
**Popular NW Community Cafe & Market For Sale**
Located on a busy street, in a very well established NW neighbourhood, this is a Local Cafe/Market with amazing Chef prepared “meals to go”. They serve up delicious Fratello specialty coffees and a variety of retail items, including food and spa products. For 10 years they have focused on locally sourced food products for their cooking and baking to ensure the best possible products for their loyal customer base. They also have plenty of take-out food to choose from, a delicious sandwich menu with house smoked meats, as well as multiple breakfast options before 11am. They offer a solid catering menu, featuring sandwich platters, coffee take tens, breakfast sandwiches, meat & cheese platters and customs menus per request.
The front of house has a wonderful warmth that gives it a great community market feel. The equipment is in great shape and very well maintained, and it shows very well when you walk in the door. The kitchen / prep area is a good size and well laid out for 2 or 3 people to work in efficiently, and was built around a menu which doesn’t require any grease laden cooking.
This is a strong, established business that could be expanded if the new owner had the energy and vision. You will be impressed when you walk in the door, call and set up a tour and see for yourself!
I am proud to announce another Sale at 5634 50 AVENUE in Lacombe.
Perfect Family Home in an amazing community! 32x24 heated drive through double garage, plus with paved driveway with plenty of room for RV parking ! Enjoy the beautiful quiet days on the covered front porch. Enjoy the fenced super private yard with a 2-tiered deck. Pride of ownership shows in the beautiful well looked after home , new windows, paint, new bathrooms, siding-shingles done Sept 2017. New flooring vinyl plank on main floor . The color scheme, large windows & wood work lends to the cozy feel of this home. The finished basement boasts a living suite with family room, kitchen, eating bar, bedroom, bathroom. The heated garage includes spray foam insulation, 220V, 100 amp, new overhead doors for access from the front & back, paint, new roof & durable, easy clean epoxy floors & ample cabinets. Dont wait to see this incredible, affordable home as it will not last long!! |