Funding Supports for Business & Individuals

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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Service Canada Contact For Individuals

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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Preparing to reopen Nova Scotia

Nova Scotia is preparing to reopen the province safely. As more businesses, organizations, services and public spaces reopen, we need to work together to prevent the spread of COVID-19 and help keep everyone safe.

To help businesses & organizations understand how to work within the public health guidelines, they have launched a new website: https://novascotia.ca/reopening-nova-scotia/.

Province Announces Credit, Cash, Support Package for Small Businesses

Nova Scotia small businesses negatively impacted by COVID-19 need access to financial support.

That is why the province announced today, April 24, the COVID-19 Small Business Credit and Support Program as a temporary stream for access to credit, cash grants and support delivered through participating credit unions. The program will be available starting Wednesday, April 29.

“Many small businesses don’t qualify for the Canada Emergency Response Benefit and need our help,” said Business Minister Geoff MacLellan. “We’re focused on offering programs that complement federal programming and bridge gaps. This new stream provides small businesses much needed access to cash and other business supports to help them now and after the pandemic.”

To be eligible, small businesses must have a payroll less than $20,000 in the previous fiscal year and have experienced a decline in revenue from sales of at least 15 per cent in March or at least 30 per cent in April, May or June.

As part of the package of supports for small businesses, the province is working with post-secondary education partners to deliver education, training and guidance to small businesses. A centralized hub hosted by the Nova Scotia Community College will connect businesses to support programs available from post-secondary institutions and other regional organizations.

As well, Nova Scotia is partnering with the federal government to provide commercial rent relief for small businesses that have temporarily ceased operations or experienced a 70 per cent revenue decline due to the COVID-19 pandemic. The province is contributing $9 million to the program.

Quick Facts:
the program is 100 per cent guaranteed by the province. Maximum loan amount is $25,000
upon approval, businesses will receive a grant up to $1,500, as well as a COVID-19 Business Continuity Voucher of up to $1,500, to help hire a private consultant for advice and support
an additional $20 million has been made available through the Small Business Loan Guarantee Program that will help fund the new temporary COVID-19 response. The grant has a cap of $3 million
funding for the grant will come from the existing contribution agreement between the province and Dalhousie University
the Business Continuity Voucher Program will be administered by Nova Scotia Business Inc. (NSBI). The grant will be delivered through the Nova Scotia Co-operative Council. Applicants will be referred to the NSBI regional business development advisor to identify other COVID-19 related programs they might be eligible for
the package will be available until June 30
this is in addition to other supports previously announced, including the Small Business Impact Grant, Rent Deferral Guarantee Program, Worker Emergency Bridge Fund, deferring fees, loan and interest payments
Additional Resources:
Support for businesses announced by the province: https://novascotia.ca/coronavirus/support/#support-for-business

Applications for the Small Business Loan Guarantee Program can be submitted through https://honestmoney.ca/nsbusinessrelief

Prime Minister announces expanded access to Canada Emergency Response Benefit and support for essential workers

The Government of Canada is taking significant and decisive action to support Canadians and businesses facing hardship as a result of the COVID-19 global pandemic.

No Canadian should have to choose between protecting their health, putting food on the table, paying for their medication or caring for a family member. This is why the government introduced the Canada Emergency Response Benefit (CERB), a taxable benefit of $2,000 every four weeks for up to four months for eligible workers who have lost their income due to COVID-19.

The Prime Minister, Justin Trudeau, today announced that the government is stepping up to better support those who need help but don't qualify for the CERB, and Canadians working in essential jobs who make less than they would if they received the benefit.

To help more Canadians benefit from the CERB, the government will be changing the eligibility rules to:

Allow people to earn up to $1,000 per month while collecting the CERB.

Extend the CERB to seasonal workers who have exhausted their EI regular benefits and are unable to undertake their usual seasonal work as a result of the COVID-19 outbreak.

Extend the CERB to workers who recently exhausted their EI regular benefits and are unable to find a job or return to work because of COVID-19.

The COVID-19 pandemic has placed particular demands on low-income workers in certain sectors, including those on the front-line in hospitals and nursing homes, those ensuring the integrity of the food supply, or providing essential retail services to Canadians.

In recognition that these essential workers’ salaries are often less or similar than what they would receive from the CERB, the government will work with provinces and territories through a new transfer to cost-share a temporary top-up to the salaries of workers deemed essential in the fight against COVID-19, who make less than $2,500 a month. Details as to the application and delivery of this measure will be released shortly following further work with provinces and territories. This measure could help several million workers currently involved in the COVID-19 response. The government will continue to look for ways to better help all Canadians during this difficult time.

https://pm.gc.ca/en/news/news-releases/2020/04/15/prime-minister-announces-expanded-access-canada-emergency-response