Financing and Export Support

COVID-19 Support Measures by the Government of Canada

On October 23, 2021, the wage subsidy, rent subsidy and Lockdown Support expired. The passage of the budget implementation act provides the government with the authority to further extend these programs until November 20, 2021.

The Government of Canada is proposing to use this authority to provide tourism, hospitality and other hard-hit organizations with support until November 20, 2021 under two new programs:

  • The Tourism and Hospitality Recovery Program;
  • The Hardest-Hit Business Recovery Program.

The government is also proposing to introduce legislation as soon as possible to extend these programs past November 20, 2021, until May 7, 2022, with authority for further amendments through regulations until July 2, 2022. 

Canada's COVID-19 Economic Response Plan

  • Jobs and Growth Fund is a $700 million program that supports regional job creation and positions local economies for long-term growth.
  • Canada Recovery Hiring Program provides a subsidy on eligible salary or wages to help hard-hit businesses hire the workers they need to recover and grow as local economies open (extended to May 7, 2022)

Export Development Canada: is helping Canadian exporters access capital, secure financing, and grow their capital. With a suite of financial and insurance solutions, get expert insights and trade information.

Western Economic Diversification Canada: has a page dedicated for funding recipients, including businesses, whose projects on trade, export or events have been delayed as a result of COVID-19.

Business Development Bank of Canada offers tailored solutions to help entrepreneurs impacted by COVID-19. Their programs include the Small Business Loan, Working Capital Loan, and Purchase Order Financing.

Tax Relief for Businesses

The following provincial taxes have been deferred, delayed or reduced:

  • Deferred Tax Payments for Businesses
  • Delayed PST Budget 2020 Tax Changes
  • Delayed Carbon Tax Increase
  • Reduced School Tax for Businesses