Wage and rental subsidies expire on Saturday
Toronto, October 20, 2021 – Instead of celebrating Small Business Week, small businesses are counting towards a grim deadline: the end of federal business support programs. The Canada Emergency Wage Subsidy (CUS) and the Canada Emergency Rent Subsidy (SCRU) expire on Saturday, with no extensions in sight, despite the return to normal sales of just four in 10 businesses (40 percent), according to the Canadian Federation of Independent Business (CFIB). ).
“Small Business Week is not just an opportunity for politicians to say nice words about small business owners. It must include concrete steps to help them meet their challenges, especially at this time when concerns about COVID-related restrictions and passports are increasing across Canada, ”said CFIB President Dan Kelly. “The federal government must now expand its essential business support programs, so business owners can have more certainty as the fall and winter months approach. “
Earlier this month, the CFIB sent a letter to Deputy Premier Chrystia Freeland urging the government to immediately extend the SSUC and CERS until November 20 as a first step. The federal government can further help businesses by:
- Work with Parliament to extend the Recovery of Canada Hiring Program, SSUC and SCRU, until March 31, 2022.
- Reduce the maximum salary and rent subsidies to 75 percent for all sectors of the economy, as promised to the tourism sector by the Liberal Party in the election.
- Including new businesses that started after the start of the pandemic in all business support programs.
- Provide additional funding through the Canada Emergency Account for Business (CEBA) loan and extend the repayment deadline to the end of 2024.
- Changing the Canada Stimulus Benefit to ensure it does not encourage workers to stay home rather than return to the workforce.
- Dedicate the billion dollars in funding pledged to provincial governments to implement passport systems for small business owners who need to implement these systems.
“It’s important to keep in mind that the only businesses that receive assistance from wage and rental subsidies are those that experience significant revenue losses,” Kelly added. “The government’s top priority must be their survival and recovery. “
Small business owners can sign the CFIB petition calling on the government to extend federal support programs at cfib.ca/covidpetition.