Additional help is on the way for automotive retailers, as the Canadian Chamber of Commerce launched a new, government-funded program on May 25 that aims to help small- to medium-sized businesses, not-for-profit organizations, and charities.
The Business Resilience Service (BRS), as the program is called, allows these groups to receive professional advice and have accounting experts help them navigate through the new government programs, according to CADA’s Chief Economist Oumar Dicko. And it could be particularly helpful for smaller dealerships.
“This is a great initiative by the Canadian Chamber of Commerce and the Government of Canada,” said Dicko. “It would be very helpful for dealers to get expert advice to help them navigate through the new government programs and recover rapidly post-crisis.”
Mary Ng, Minister of Small Business, Export Promotion and International Trade, said the BRS will help the smallest and most vulnerable businesses “in pressing need of finance planning advice amid this pandemic and as they plan for their recovery.”
The program runs through the Canadian Chamber’s Canadian Business Resilience Network in collaboration with EY, and with support from Chartered Professional Accountants of Canada (CPA Canada) and Imagine Canada.
Vulnerable businesses, organizations or charities that fit the specific requirements of the program can connect with experienced accounting and tax professionals across Canada from professional services firms — and it’s free-of-charge.
“We want to ensure they can weather through this period and bounce back once we’re on the other side of this,” said Ng.
According to the Canadian Chamber of Commerce, the program will provide guidance on program options and eligibility, rapidly direct businesses to the most appropriate support organizations, help organizations make decisions to support recovery plans, and provide real-time insights and feedback to policymakers.
