I can’t believe it’s almost the year-end! It’s time to reflect on what’s been good this year and what could have been better. Hope your 2021 went well despite all obvious issues outside our control.
It is also time to set your personal and business goals for 2022. The bad news is that there is nothing I can do to help you reach your personal goals, but the good news is that I might be able to help you get where your business deserves to be!
The Canada-Emergency Wage Subsidy was instrumental in helping qualified Canadian businesses during the pandemic. Even though it was quickly deployed and received constructive criticism, we must admit that it was helpful overall. The Federal government, however, decided to discontinue the program and the last eligible month to apply is October 2021.
However, the most impacted businesses won’t be left behind, especially with the new variant on the horizon. Here is the proposed suite of replacement programs:
Extend Canada Recovery Hiring Program until May 7, 2022, for eligible employers with current revenue losses above 10% and increase the subsidy rate to 50%. The extension would help businesses continue to hire back workers, increase hours, and create the additional jobs Canada needs for a robust recovery.
Tourism and Hospitality Recovery Program, which would provide support through wage and rent subsidies to, for example, hotels, tour operators, travel agencies, and restaurants, with a subsidy rate of up to 75%.
Hardest-Hit Business Recovery Program, which would provide support through wage and rent subsidies to other businesses that have faced deep losses, with a subsidy rate of up to 50%.
Local Lockdown Program, which would provide businesses that face temporary new local lockdowns up to the maximum amount available through the wage and rent subsidy programs.
Please note that none of the above-listed programs is launched. The Parliament is debating the programs this week and, with a bit of luck, the legislation will pass before Christmas. Please stay tuned!
Amount: Funding is intended for collaborative projects responding to sectoral and multisectoral challenges. Financial assistance will be granted in part through calls for projects.
Amount: non-refundable contribution of up to 40% of eligible project expenses, up to a maximum of $ 100,000 per project, with the exception of equipment manufacturers and processors in the aluminum, for which the maximum can reach $ 250,000 per project.
Amount: non-refundable contribution that covers 50% of eligible expenses of maximum aid rate and cumulation of government assistance up to a maximum of $ 20,000 for the duration of the program.
We would like to thank all of you for joining us at the “Lean Techniques and Grant Funding for Increased Profit Margins” webinar. It was an absolute success and we hope you got a chance to join us live.
In case you missed it or would like to watch it again, we have a recording of the webinar available now.
Against the unprecedented challenges of the Covid-19 pandemic, Federal and Provincial Governments face the daunting task of rebuilding their economies.
They are using a slew of new and returning grants and low/zero interest loans as part of their arsenals for growth, creating opportunities for business of all sizes to retool or get started.
Principal of Fair Grant Writing, Igor Chigrin examines these programs and provides valuable tips on how to leverage them for your business and your clients.
Date and Time: Thursday, Apr 29, 2021 12:00 PM EST
Seminar Speaker: Igor Chigrin – Business Funding Expert
Whether your company is large or small, ERP implementations are always more complicated than they appear. Following Pemeco’s proven roadmap with clear milestones you can use a new ERP system to improve productivity, efficiency save money and drive corporate transformation.
With opportunities emerging for agile, adaptable companies a successful ERP implementation can help executives navigate away from disaster and toward success with clear milestones and scope and cost control management systems.
The Canadian and Provincial governments have offered grant funding for companies to support Technology implementation and training to support ERP implementations for eligible companies.
In this webinar, Jonathan Gross (Managing Director Pemeco Consulting) and Igor Chigrin (Principal – Fair Grant Writing) will outline strategies to successfully implement ERP implementation and transformation projects supported by grant funding.
You will learn best-practices to:
1. Design your future state
2. Select the right fitting ERP and other technologies
3. Identify grant funding sources
4. Develop grant funding and application strategies
Comments Off on The Road to ERP Success Backed by Grant FundingPosted in
A few weeks ago we released information about the customs duty drawback program that helps your business claim Canadian customs duties back if it qualifies. Today I wanted to highlight some nuances and answer the most popular questions about the program.
1. How far back can we claim the refund of the customs duties?
Answer: You can claim customs duties paid as far as 4 years ago if your business qualifies.
2. We paid CBSA when we imported goods to Canada. Why don’t we qualify?
Answer:When you import commercial goods to Canada you always pay GST – 5% of its cost (some exceptions apply). GST is a tax and not a customs duty. So if you import goods and pay no duty, there is nothing the government can refund back to you.
3. Is this program only for large multinationals moving containers of goods around?
Answer: No, the businesses of all sizes and industries anywhere in Canada can apply as long as they meet the program qualification criteria.
Do you have any other questions about the customs duty drawback program? or Need help with government funding programs and don’t know where to start or how to prepare an application?
We would like to invite you to the upcoming webinar “Leverage Grant Funding for Business Survival and Growth in 2021”.
Join us in this webinar to discover what funding and subsidies your business may be eligible for, and how to access them. This webinar is tailored for businesses in the manufacturing, food & beverage, and technology industries.
Following the presentation, there will be an opportunity to ask questions during the Q&A session. You are also welcome to submit questions in advance on the sign-up page: https://www.youraccounting.cloud/events
Date and Time: Thursday, February 25, 2021, 12:00pm EST
Seminar Speaker: Igor Chigrin – Business Funding Expert
The Regional Relief and Recovery Fund (RRRF) is an interest-free loan for businesses and organizations impacted by the pandemic. The main goal of this program is to support operational funding needs and cash flow of businesses.
Eligibility Criteria:
An incorporated business, co-operative, partnership or an Indigenous-owned business with 1 to 499 full-time employees;
Located in Ontario;
Facing funding pressures with fixed operating costs, as a result of the pandemic;
Have applied to other Government of Canada relief measures for which they are eligible, as outlined in the program guidelines;
Were operational prior to March 15, 2020;
Are financially viable;
Plan to continue to operate or resume operations; and
Have an active business chequing/operating account.
Eligibility Cost:
Liquidity support for fixed operating costs to maintain regular operations where business revenues or cash flows have been affected by the COVID-19 pandemic. Such as:
Capital lease payments for existing equipment and machinery;
Salaries and benefits*(only if not eligible or supported by other available federal COVID-19 relief measures);
Property taxes;
Utilities;
Bank charges and interest payments;
Professional fees;
Monthly insurance payments;
Rent;
Personal protective equipment / safety measures;
Cleaning expenses; and
One-time stabilization expenditures (including sanitary, distancing measures and/or one-off adaptation costs related to operating in the context of COVID-19).
Amount:
Funding of $60,000 or less: Conditionally repayable contribution (interest-free loan)
Funding up to $1,000,000: Unconditionally repayable contribution (interest-free loan)
Do you qualify for RRRF or other government funding programs and would like to submit your application ASAP?
Just like all organizations, the government adapts its programs to suit the new reality of the pandemic.
Initially, CanExport program was designed to support export marketing costs of the Canadian small-to-medium-sized businesses. The program was primarily used to subsidize exhibiting at the international trade shows, international travel and marketing.
Now that the international travel and trade shows are no longer available, the government revised CanExport program guidelines to expand the list of eligible costs. Now a Canadian company pursuing international markets can apply for assistance to:
Gather market intelligence (custom research, reports and studies)
Apply for intellectual property protection in international markets
Apply for certification in international markets
Seek expert legal and business advice
Search Engine Optimization
Translating, adapting or creating marketing materials
Attending virtual trade shows, networking functions, meetings or conferences
And the most recent changes announced on November 4th :
Export brokers in the agriculture and agri-food sector may be eligible to the program, provided they meet Canadian content requirements.
The maximum funding for online advertising activities has been increased to $50K per project. The program is now allowing online advertising on social media platforms, online marketplaces and search engines.
Expert advice for digital and e-commerce marketing is now eligible.
In the next few days the government will clarify the definition of the Canadian content and a few other recent changes.
Do you qualify for CanExport or other government funding programs?
We understand that you may have applied for the subsidy yourself or had a third party to do so. Was the calculation completed accurately? Have you maximized your benefits? Have you applied for all eligible periods?
To get you a piece of mind, we are introducing a new service – CEWS Audit. We will:
Validate your eligibility for CEWS.
Check the accuracy of calculations and claims.
Ensure the paperwork is in order in case of a future audit.
Adjust applications if we can maximize the subsidy for you.
Are you ready to get a piece of mind and a qualified second opinion?
If so, reply to this email and we will discuss the next steps with you.
