Categories

Blogs
Posts By Date
Categories

Featured article

May 28, 2020
Here Is A New Listing That I Just Posted At 108 8400 Blackfoot TR SW in Calgary


Here is a new listing that I am happy to post at 108 8400 Blackfoot TR SW in Calgary.
More...

Latest Posts

Rob Campbell - RE/MAX Real Estate (Central) : Blog : Latest Blog Posts

May 28, 2020
Here Is A New Listing That I Just Posted At Rural Rocky View MD, Rural Rocky View County


Here is a new listing that I am happy to post at Rural Rocky View MD, Rural Rocky View County.
More...
Here Is A New Listing That I Just Posted At 108 8400 Blackfoot TR SW in Calgary


Here is a new listing that I am happy to post at 108 8400 Blackfoot TR SW in Calgary.
More...
Here Is A New Listing That I Just Posted At 64 7930 Bowness RD NW in Calgary


Here is a new listing that I am happy to post at 64 7930 Bowness RD NW in Calgary.
Land,...
More...
Here Is A New Listing That I Just Posted At 5019 1 ST NW in Calgary


Here is a new listing that I am happy to post at 5019 1 ST NW in Calgary.
Huge opportunity!...
More...
Here Is A New Listing That I Just Posted At 2732 BRENTWOOD BV NW in Calgary


Here is a new listing that I am happy to post at 2732 BRENTWOOD BV NW in Calgary.

Rare...

More...

Welcome

LATEST STORIES For Today's News From Around the Web..

Blueneck Consulting - COVID 19 Business Update

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/covid-19-information-help-prevent-the-spread-poster


Right now, it is being left to provinces to decide on lock-down measures.   Alberta has the 4th largest population of covid-19 cases, but there seems to be no interest so far to lock down the province.   The Federal Government, however, is passing the Emergency Powers Act andcould intervene.  Most likely, for now, the Provinces are likely to be left to make local decisions and the Federal government will focus on economic stabilization spending and inter-provincial, international travel restrictions.   However, this can change quickly if cases start spiking quickly.


Financial support for your business, employees and clients:

Many of your businesses are now adapting daily business, and making additional preparations.  Below I’ve summarized programs to help ease the difficulty of reducing your workforce and other measures to conserve cash, which is critical over the coming months:


  • Help for your employees to conserve cash:
    • Income Tax owing can be deferred to Aug 31
    • Residential Utility Payments can be deferred for up to 90 days without being disconnected
    • Personal Mortgages and Loan Payments with Alberta credit unions and ATB can be requested to be deferred up to 6 months based on need.  Some national banks are doing the same thing, but also only based on need.
    • Emergency Isolation Payment for Albertans to have covid-19, returning from abroad or have been in contact with someone tested positive with covid-19 can get up to $1,146 until the Federal program is in place.  This is time limited till April 1.
    • Emergency Support for non-EI eligible Workers applies to any of your employees or their spouses are unable to work but cannot get EI.   If they have been asked to self-isolate because they have covid-19, suspected to have covid-19 or need to care for someone with covid-19, they can apply for $900 every two weeks for up to 15 weeks.  They can apply through the CRA MyAccount portal.
  • Reduce the pain of laying off employees by considering job-sharing program.   This allows employees to work part-time for you and get a partial top-up of EI.  If your business can stay open, this is a great way to drastically reduce your payroll and look after you valued staff.  However, this program takes 30 days to be approved, so you must get your application in immediately!  https://www.canada.ca/en/employment-social-development/services/work-sharing/apply.html


SUPPLY CHAIN CONSIDERATIONS

The US is expected to be the next epicentre of Covid-19 spread.  The US is in very bad shape to control this and the President is implying that he is willing to consider accepting high loss of life to keep the economy open.   If this happens, ANY SUPPLY COMING FROM THE US may be at risk.   Please review your US-based supply and monitor your individual situations on a daily basis.


However, China is starting to do phased re-opening of their economy and re-opening hospitals to the public.   It took less than 2 months of lock-down and isolating people.   Strict hygiene measures, quarantining the sick and social isolation/distancing have been the keys.   Please LEARN from this and take implementation of these measures in your work locations SERIOUSLY.  It is the best way to keep you working!


Pete Baran                           |       403-973-3531

Chief Business Mechanic  |       Blueneck Consulting Inc.

www.blueneck.ca

Comments:
No comments

Post Your Comment:

Suggested Blog Articles

Business Owner Update - Friday March 27, 2020

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 is the time for you to replace as much high-cost debt with new low-cost debt.


In addition, you get a deferral of GST remittances on top of all the other deferral of payment programs announced over the past 10 days.  You’ll have to pay your GST owing eventually, but consider the money is better in your pocket for the time being.


These will help those of you who will be able to find work to keep the doors open and if the Alberta Government doesn’t order a lockdown.  If you need to shut the doors, the cheap loans and payment deferrals will help you to weather the storm and re-open later.  


Let’s address the potential of a lock-down.  Yesterday, the Alberta government admitted it is preparing an essential services list. This is a prerequisite to doing a lockdown.  As I reported to you earlier this week, the Alberta list will be based on the Ontario essential services list, likely with more extensive leniency for the oil and gas sector (re-attached).   This is not something the Alberta Government wants to do, but only if covid19 gets out of control.    That number is much higher than we are now (check my website if you like numbers).  However, politics are politics and we still might see one.  


If the government imposes one, my forecast is that we will need to see case numbers trending up significantly (i.e. additional cases each day are more than the additional cased from the day before) for 2-3 more days in a row and the Canadian Emergency Response Benefits become available so the additional layoffs get paid by the Feds, not the Province (i.e. April 6).  I’ll be keeping watch over these numbers for you. 


For you convenience, here is new link summarizing all the Federal program announcements (not yet updated from today). https://www.canada.ca/en/department-finance/economic-response-plan.html


Let’s do everything we can in our workplaces, with our employees, customers and suppliers to plank this outbreak so we can keep businesses open and everyone working!


Pete Baran                           |       403-973-3531

Chief Business Mechanic  |       Blueneck Consulting Inc.

www.blueneck.ca

Read Now
Covid 19 Payroll Subsidy Info
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 own financial P&L statements that includes estimating the impact of using the government programs and includes a list of other actions you can do to help your business weather the storm.  If any of you are interested in having this done for your business, contact me.

 

If any of you will need a business loan to survive a prolonged event, but would not otherwise qualify for a loan, there is money available from the government.  https://www.bdc.ca/en/pages/special-support.aspx.  


Small businesses with a payroll between $50K to $1M should look to the Canada Emergency Business Account https://www.canada.ca/en/department-finance/news/2020/03/additional-support-for-canadian-businesses-from-the-economic-impact-of-covid-19.html  As described in my emails last week, this if interest-free, $40,000 where you can be forgiven up to $10,000 if you pay it back before the end of 2022.


Here is a description of the application process and the questions you will likely be asked https://www.krp.ca/lending-rules-for-bdc-covid-19-relief-program-take-shape


This is the last week you have to re-plan your businesses for the next 2-3 months to stay in front of the situation.  If you don’t know what you need to be doing and how much of it you need to be doing, please contact me.   I want to see you all survive this event as best as possible!


Next 2 weeks, the focus will need to shift to full-implementation of that plan and start looking for short-term business opportunities with customers who are less impacted by COVID-19.  This is a very tactical that looks a lot like war-time situation management.   Even with a plan, the situation going forward will be fluid (some good, some bad).


Later in April,  your planning will need to focus on re-positioning your businesses to be ready to sling-shot out of this event! 

 

Please continue to pay strict attention to all of the hygiene/safety recommendations and emotional/mental health issues discussed here over the past two weeks!   Let’s do everything we can to keep our employees, customers, suppliers an colleagues healthy so we can all get back to work faster!


Pete Baran                           |       403-973-3531
Chief Business Mechanic  |       Blueneck Consulting Inc.
www.blueneck.ca

Read Now
Here Is A New Listing That I Just Posted At 108 8400 Blackfoot TR SW in Calgary


Here is a new listing that I am happy to post at 108 8400 Blackfoot TR SW in Calgary.
Drift Spa is a chic, comfortable Nail and Day Spa located in South Calgary at the Meadows Mile on Blackfoot Trail, surrounded by Calgary’s most exclusive automotive dealerships. It was built with comfort and style in mind, the contemporary touches and colors are very nice. The finishing’s are all top of the line and it shows throughout the space. The space could be redesigned to provide a wider variety of Spa & Esthetics services, including Facials, Hair Removal, Laser treatments etc, and would do well with a solid Hair Styling program as well. There is also a café/coffee bar on site.
Read Now
Data supplied by CREB®’s MLS® System. CREB® is the owner of the copyright in its MLS® System. The Listing data is deemed reliable but is not guaranteed accurate by CREB®.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. Used under license.