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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 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 302 11245 Valley Ridge DRIVE NW in Calgary. This is a wonderful opportunity for a new or established stylist to get into their own business. The current owner has been here for 4 years, but opened the shop 13 years ago, sold it and then came back when the opportunity presented itself.
It is the only salon in the area and is servicing Valley Ridge, Crestmont & Springbank and other surrounding area’s. There are 2 wash stations and 4 stylist stations, so you can either staff the salon or rent the chairs out to contractors. Lots of parking in the lot and very easy to find the location. Call for a tour of this great little business. 
I am proud to announce another Sale at 227 11 AVENUE SW in Calgary. Best Value For A Restaurant I Have Had In Years!! Rent is only $2250 a month!
The Modern Group of Restaurants is selling their "burger passion project" to focus on their other operations. The name is not included in this sale, they want you to bring your concept and make this location your own. This is an easy way to get into the restaurant business, it is fully equiped and in a high traffic, high density area that is perfect for delivery and take out. You could do Burgers, Sandwiches, Wraps, Shawarma...the possibilities are endless!
The space is only a couple of years old so the equipment is in great shape and you could adjust the food offering to other formats if you would like, you just need to talk to the landlord. It has a fully vented kitchen and is counter service with common eating area and common washrooms. This is a low maintenance operation for the owner.
This is the most cost effective way to open your first restaurant, especially if you have a concept in mind or have been doing popups! **The Landlord already has a couple of "Asian influenced" concepts, so they are not accepting any more at this time in order to maintain a diverse offering for the customers. The Landlord is looking for "a food hall stall that sells sandwiches, salads and/or grain bowls, some type of western style food concept or keep the existing burger concept" but would need the owner/operator to have prior ownership and/or operating experience. |
