Funding Supports for Business & Individuals

NSBI’S BUSINESS READINESS PAGE

Nova Scotia Business Inc. (NSBI) has developed a webpage to provide helpful resources to help businesses in Nova Scotia as they begin to reopen and recover from the impacts of COVID-19. The resources are intended to be used as guides and references as business owners work to protect their employees and their customers.

The webpage includes updated information on federal and provincial funding assistance, business readiness guides, a business call to action, and a list of Nova Scotian companies that are producing PPE.

Visit the webpage at https://www.novascotiabusiness.com/covid-19-information/business-readiness

REGIONAL DESTINATION MARKETING ORGANIZATION PARTNERSHIP PROGRAM

The COVID-19 pandemic and the related travel restrictions have had a significant impact on tourism businesses and the organizations that work to promote communities throughout the province. Using partnership funds from Destination Canada, Tourism Nova Scotia is offering funding through a new program, the Regional Destination Marketing Organization Partnership, to support these organizations as we work to encourage people to explore our province when it is safe to do so.

The program will help eligible regional destination marketing organizations implement marketing activities that are complementary to Tourism Nova Scotia’s marketing recovery plan.

Details on the program and applications are available at https://tourismns.ca/regionalmarketingpartnershipprogram

The application deadline is Friday, June 26.

Support for Agriculture Sector Dealing with COVID-19

Nova Scotia’s agricultural businesses continue to produce food and generate economic activity, even when faced with the challenges posed by the COVID-19 pandemic. The province is responding to the sector’s immediate needs to help keep it strong.

“This support package will help farmers manage risks that are currently threatening the viability of their farm operations and our food supply system,” said Agriculture Minister Keith Colwell. “We need a strong agriculture sector and by taking these steps, we are helping our farm families improve their competitiveness, productivity and profitability at a time of significant change.”

In partnership with the federal government, the assistance includes a new COVID-19 Response and Mitigation Program, funded under the Canadian Agricultural Partnership, that helps mitigate the impacts of the COVID-19 pandemic. The program will help food producers with the costs of meeting extra health requirements due to COVID-19, help producers get their crops to market, fund projects aimed at maintaining competitiveness, productivity, profitability, and support abattoir efficiency and development.

Nova Scotia and the Government of Canada have agreed to increase the 2020 AgriStability interim benefit payment percentage from 50 to 75 per cent for producers. The program supports producers experiencing a large decline in farm income.

They are also providing a 10 per cent discount on producers’ share of AgriInsurance premiums, saving farmers from making these payments during difficult times. AgriInsurance is an insurance against natural hazards to reduce the financial impact of production losses.

Agricultural businesses can apply for the assistance now.

Resources:

COVID-19 Response and Mitigation Program: https://novascotia.ca/coronavirus/agriculture-response-program/

Canadian Agricultural Partnership Cost-Shared Programs in Nova Scotia: https://novascotia.ca/canadian-agricultural-partnership/

Canadian Agricultural Partnership: https://www.agr.gc.ca/eng/about-us/key-departmental-initiatives/canadian-agricultural-partnership/?id=1461767369849

Business Risk Management Programs under the Canadian Agricultural Partnership: https://www.agr.gc.ca/eng/about-our-department/key-departmental-initiatives/canadian-agricultural-partnership/canadian-agricultural-partnership-business-risk-management-programs-effective-april-2018/?id=1500475317828

Canada Emergency Commercial Rent Assistance for Small Businesses

Nova Scotia is participating in the Canada Emergency Commercial Rent Assistance for Small Businesses program. The program, in partnership with the federal government, will provide rent relief for commercial small businesses that have temporarily ceased operations or lost at least 70% of revenue because of the COVID-19 pandemic. Landlords who register for the program can get a forgivable loan to cover half of the rent in April, May and June if they lower the rent by 75% over that period.

You can apply for the program on the Canada Mortgage and Housing Corporation’s website.

PROVINCE INVESTS IN NEW BUSINESSES, INNOVATION

The province is investing $750,000 to help start-up businesses seize opportunities emerging from COVID-19. Business incubators Volta, Ignite and the Organization for Nova Scotia Innovation-Driven Enterprise (ONSIDE) will receive funding to help new businesses get off the ground. Funding through Innovacorp will support startup activities in Cape Breton, including an entrepreneur in residence, acceleration programs, training opportunities, a makerspace, mentorship and networking events.

As the province focuses on economic recovery, new start-ups and innovation-driven entrepreneurs will play an important role in restarting the economy. This investment will help drive the creation of new business and support innovative solutions as we adjust to the post-COVID reality.

Business incubators help start-up companies through a variety of support services, including physical space, access to technology, coaching, shared services and networking. Volta, Ignite and ONSIDE will also provide programs and supports focused on issues and challenges raised by the COVID-19 pandemic.

For more information on this and other support for Nova Scotia Businesses please visit: https://novascotia.ca/coronavirus/support/#support-for-business

Service Canada Contact For Employers

Although our Service Canada Centres are closed to the public due to COVID-19, you can still get the Service Canada benefits and services you need online or by telephone.

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