Subsidies to help with wages and rents have been a lifeline for many small businesses during the pandemic – but they're starting to be phased out.
VANCOUVER -- Despite eased restrictions, and the prospect of welcoming back U.S. visitors on the horizon, small business advocates say it’s still too soon to pull back on critical federal subsidies for rent and wages during the pandemic.
“Over a million people come through this city on those cruise ships. So that will not happen,” he said. “Some of our businesses experienced up to a 90 per cent loss in revenue, when you look back at year over year to 2019 prior to the pandemic.” The Canadian Federation of Independent Business’s provincial affairs director, Annie Dormuth, said those supports are still needed, and the organization has started ato call on the federal government to put a pause on phasing out the Canada Emergency Wage Subsidy and the Canada Emergency Rent Subsidy , and extend them further into the fall. Currently, the two programs have only been extended until Sept. 25.
In an email to CTV News, the press secretary for federal Finance Minister Kat Cuplinskas said businesses will have access to a new hiring incentive subsidy called the Canada Recover Hiring Program until November, while a loan program for highly affected sectors is available until December.
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