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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...
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 110 3 AVENUE W in Cochrane. My Greek Plate is one of Cochrane’s most beloved eating destinations. They have built a rock solid reputation for high quality Greek/Mediterranean cuisine, a warm friendly family atmosphere and great service.
The restaurant is well located in Downtown Cochrane, in a quaint standalone building with 14 parking stalls out back and lots of street parking. It is walking distance from Main Street, with 30 seats inside and 35 seats on the fantastic patio out front. They operate 7 days a week, but the hours could be expanded to include lunch mid week if you wanted to. The rent is very reasonable for a stand alone building, which is so important to the success of a restaurant these days.
The restaurant has been booked out for private events, weddings and the like on many occasions, because of it’s size and warm atmosphere it is popular for such occasions. This is a great opportunity for a young chef or restauranteur who is energetic and enjoys the small town lifestyle.
Here is a new listing that I am happy to post in Calgary, Calgary. One of Calgary’s longest running pizza/pub restaurants is for sale!
This pub with its famous pizza has been operation for decades in this location, surrounded by well established residential neighbourhoods and lots of businesses. They have been serving traditional pub food and great pizza 7 days a week to hungry and thirsty regulars. This has been the local pub for many years, showing hockey games on the tv’s and the VLT’s are very popular. There is lots of parking out front and on the surrounding streets, and the location is on a very busy traffic artery. There is so much that this place has to offer and the potential for an energetic new owner is fantastic, with the current owner is ready to retire. Call to set up a tour of this very well established family run business. 
Here is a new listing that I am happy to post in 3967 17 AVENUE SW in Calgary. Do you want to get into the Pizza Business?
You can either keep this as a Franchise store or you can buy it and put in your own concept. At 1137sqft, you have just enough room for a good size kitchen and some storage while not being too big. There are a few seats for people waiting for their orders, or to enjoy a slice.
The store is VERY well outfitted with walk in refrigeration and a large prep area. The Pizza ovens are Garland Air Decks that are in very good shape as well as a new Somerset dough sheeter and a Hatco slice warmer. The equipment is in excellent condition and the store is nice and clean, and ready for a new owner operator. The current owner fully renovated the shop when they bought it, including all new tile.
The location is perfect for a pizza store, with so many positives. It is close to a number of high volume transit routes and the C-Train, on a major roadway with tons of daily traffic, and is in a very busy strip mall. The well-established neighbourhood a great mix of single family homes, as well as lots of multi family rental buildings, these factors are excellent for a pick up and delivery business.
Call if you would like more details or if you would like to set up a tour of store. |
