The Coronavirus (COVID-19) Pandemic is widespread as of March 2020 and is affecting small business owners all across Canada.
Prime Minister, Justin Trudeau recently announced the Canadian governments response to the Coronavirus outbreak and has dedicated over $1 billion dollars towards the COVID19 Response Fund.
This fund will help with extreme measures underway as a response to the outbreak as to help lessen the impact on Canadians, small business owners in BC and the entire Canadian economy.
While the risk to Canadians remains low at this time, small business owners all across British Columbia and Canada are being advised to prepare for any potential distributions that may arise due the Coronavirus outbreak.
The COVID19 Response Fund will help small business owners in British Columbia with:
Providing support to employers who have quarantined staff or who have been directed to self isolate in protection of the rest of the population.
The support in this regards is provided via Employment Insurance (EI) sickness benefit, by removing the mandatory 1 week waiting period to be approved for the first week of their claim.
Additional measures are begin put in place by the government of Canada to support small business owners and their staff, especially those who are non eligible fro EI sickness benefits as well.
While the Coronavirus has definitely impacted the economy, the stock market, a significant drop on travel and certain countries have been placed on lock down; it’s just the start based on expert analysis.
As a Canadian, perhaps a small business owner in BC, it is important to stay up to date and understand the latest updates on the virus, the spread and what you can do about it.
The most critical is to take special precautions for the COVID-19 and do what you can to prevent the spread.
The common respiratory virus avoidance methods include:
- Avoiding close contact with those individuals that are sick
- Encouraging your staff to stay home (work from home) when they are sick
- Avoiding touching your face
- Regular hand washing (at least 30 seconds with soap – If soap is not available use alcohol-based hand sanitizer)
- Regularly clean and disinfect the frequently touched objects and surfaces
How concerned should you be as a small business onwer?
With any outbreak, especially a deadly one, there is reason to be concerned.
Small business owners across BC are impacted as person to person contact, gatherings and simply public awareness of the Covid is decreasing the amount of time people across British Columbia are spending in public places – which ultimately means, your shops, your businesses are impacted.
Aside from potential loss of income due to the downturn in the economy, the other risks you have is the spread of the Covid with direct contact with employees…etc
Time to change the world
Covid is spreading across the world. Global stock markets are in free fall.
But with great challenges come great opportunities.
You can now access the Small Business Startup Platform and prepare your small business for a time when we are Corona-free, right from your home.
A big problem with is that people still need to live their lives, startups still need to startup, businesses still need help and support; but do you really want to go to a bank for help, do you really want to go visit the local incubators and community programs to help with your business plan and sit in a closed environment, concerned with the virus and worried of anyone coughing?
From home, you can access the Small Business Startup Portal and have no further concerns.
Instead of sitting at home watching Netflix, waiting for this to pass by, now is the time to start that small business you’ve always wanted.
Let’s get going. Let’s change the world together.
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