In today’s COVID-19 reality, how much should your fishing enterprise catch—and how much will the market pay?
With market demand down 60 percent, these questions—and others—are weighing on Captains’ minds. Fortunately, there are resources and strategies to help you weather this unprecedented storm.
To help weather the effects of the pandemic, the Government of Canada recently introduced two new financial assistance programs.
Credit and Loan Programs for those working in the Nova Scotia Fishing Industry.
Managing the impact of COVID-19 on your business.
An assistance program to cover most employee wage costs, up to 75% of employee payment on $58,700 per employee.
Fish Harvester Benefit and Grant Program
Applications now being accepted until September 21.
Canada Emergency Business Account (CEBA)
Small businesses and not-for-profit organizations can get interest-free loans of up to $40,000, helping them stay afloat while business and income is down.
Rental relief for small businesses: Canada Emergency Commercial Rent Assistance (CECRA)
Business owners can now receive a series of lease or rent relief options to limit costs while COVID-19 is still affecting business.
This program can help your business avoid layoffs when business is slowing down due to unpredictable periods, such as the pandemic.
Temporary Wage Subsidy
The program offers savings to business owners by reducing the tax they pay on their employees’ wages.
- The Mandatory Isolation Support for Temporary Foreign Workers Program (MISTFWP)
- Changes to EI for self-employed fish harvesters and sharespersons
- Perennia Food and Agriculture Inc.
- Government of Nova Scotia
- Fisheries and Oceans Canada
- World Health Organization
- Canadian Government – Public Health
- Business Development bank of Canada
- Prime Minister’s Office – Latest Updates