As dealers across the country struggle with the restrictions imposed on them by their respective provinces to combat the spread of COVID-19, many are wondering what the federal government is doing to help their situation.
Canadian auto dealer connected with Ryan Nearing, Press Secretary and Regional Advisor (Atlantic Canada), Office of the Minister of Small Business, Export Promotion, and International Trade, to better understand what is being done for dealers.
“In the face of COVID-19, we are listening to all small businesses and entrepreneurs, including car dealers, and will do whatever it takes to support them,” said Nearing, adding that they are providing immediate relief for small businesses and entrepreneurs through a range of measures.
One of those measures includes making it easier for small businesses and entrepreneurs, who need capital to pay their bills and employees, to get a loan from their local bank or credit union to help them get through this tough period.
Nearing also said the government is providing immediate relief for businesses with the new Canada Emergency Response Benefit, of $2,000 a month, to support business owners and workers who are not getting a pay cheque due to COVID-19.
He also said they are providing a 10 per cent wage subsidy for the next three months, the “enhanced Work-Sharing Program that helps businesses pay their employees, deferred tax payments until August 31, and making $10 billion available to small businesses in loans through Export Development Canada and the Business Development Bank of Canada.”
Outside the business realm, the federal government will also provide an income boost of up to $400 per person through a one-time special payment under the GST credit, which is expected to benefit 12 million low- and modest-income families, among other things. The tax filing deadline has also been extended to June 1, and the federal government will allow all Canadians to defer any payments owing until August 31.
“Our government continues to listen to business leaders to ensure we are helping businesses and entrepreneurs, including car dealers, through this extraordinary time — nothing is off the table and we will have more to say very soon,” said Nearing.
More information on what the federal and provincial governments are doing, and what suppliers are offering in terms of savings and informative tools, can be found here.
