Weekly Update: October 16 – 22, 2020

Last Reminder For CECRA For Small Businesses

Canada Emergency Commercial Rent Assistance is set to end soon. Property owners that have already been approved for rental assistance have until October 30th 2020 to opt-in for the extensions. The application portal will close at 11:59 PM EST on October 30th. Visit the program website for details.

Alberta Innovates Innovation Relief and Recovery Program

The Innovation Relief and Recovery Program is designed to provide COVID relief and recovery funding for pre- and post-revenue high potential, high growth, technology or knowledge-based Alberta small- and medium-sized enterprises (SMEs). This program is designed for pre- and post-revenue high potential, high growth, technology or knowledge-based Alberta SMEs. Eligible applicants can apply for up to $10,000, paid directly to the service provider, to cover eligible expenses charged by the service provider for the purpose of one or more of the activities outlined in the detailed program description found here: https://albertainnovates.ca/programs/innovation-relief-and-recovery-program/. A call for applications is now open until November 2, 2020 at 4:00 pm. Target start date of projects is December 1, 2020 with all projects ending before March 2, 2020. Projects are a maximum of three months long and funding is paid directly to the service provider.

Funding for Canada United campaign

An investment of $12 million to support the Canada United campaign was announced to support local businesses in communities across the country. As part of the Canada United movement, RBC brought together more than 70 of Canada’s leading brands, the national chamber of commerce network and business associations to rally Canadians to “show local some love” by buying, dining and shopping local.

Grants up to $5,000 are available to small businesses so they can cover the costs of physical modifications to their businesses to meet local health and safety requirements. The grant can also be used to help firms enhance their e-commerce capabilities so they can do more business online.

The new application window will for the Canada United Small Business Relief Fund will  open on Monday, October 26, 2020.  Canadian small business can learn more and apply for the grant online through Go Canada United.

Launch of farmer-led research in Alberta

The $37-million annual agreement will see the organization prioritize agriculture research projects that reflect the needs of farmers and ranchers in Alberta. RDAR has also finalized its initial research priorities and will release a targeted call for proposals. Under this new model, agricultural research in Alberta will lead to tangible benefits for farmers, including higher profits, a more abundant food supply at lower cost for Albertans and ultimately a higher quality of life in rural communities. More information.

Supports for the energy industry 

Supports to energy companies will include an exemption from property taxes for three years when drilling new wells and building new pipelines. The government will also eliminate the Well Drilling Equipment Tax provincewide for new drills. Additionally, the government will lower assessments for less productive oil and gas wells while continuing the recently introduced 35 per cent assessment reduction on shallow gas wells for three years. These measures are to provide much-needed certainty to industry, investors, municipalities and other taxpayers now and into the future. More information.

Funding for Alberta Enterprise Corporation's (AEC) Accelerate Fund III

Alberta’s government is investing $5 million into the Alberta Enterprise Corporation’s (AEC) Accelerate Fund III, an additional investment that will bring the total funding available to tech startups to $15 million. The Accelerate Fund provides money to Alberta’s early-stage tech startups and entrepreneurs, matching dollars already raised through angel investing, to assist with the operational and administrative costs of launching a new business. More information.

New legislation introduces payment timelines in the construction industry

New legislation will introduce prompt payment timelines into Alberta’s construction sector. Proposed changes to the Builders’ Lien Act are the first in almost 20 years and address long-standing concerns within the construction industry, including payment timelines, lien periods and adjudication. More information.

Laying the groundwork for geothermal development

Modelled after the Oil and Gas Conservation Act, the Geothermal Resource Development Act would provide the Alberta Energy Regulator (AER) with the authority to regulate the safe, efficient and responsible development of Alberta’s geothermal resources. The legislation clarifies industry requirements, establishes the AER’s oversight authority, and establishes government’s ability to receive revenues, such as royalties and fees, for geothermal development. More information.

Advancing Alberta’s Recovery Plan

Bill 35, the Tax Statutes (Creating Jobs and Driving Innovation) Amendment Act legislates two important components of Alberta’s Recovery Plan – the acceleration of the Job Creation Tax Cut and the Innovation Employment Grant. the Job Creation Tax Cut was accelerated to lower the corporate income tax rate to eight per cent, effective July 1, 2020, a year and a half ahead of schedule. The Innovation Employment Grant (IEG) will attract small and medium-sized Alberta businesses that invest in research and development (R&D). More information.

Government of Canada invests in clean technology ecosystems

The federal government announced an investment of $100 million over four years, provided through the Strategic Innovation Fund (SIF). The investment will help the Clean Resource Innovation Network (CRIN) accelerate the development and adoption of innovative technologies and processes that seek to lower the oil and gas industry’s environmental impacts. More information.

Business of Business - Salesforce

In this edition of the Business of Business, our own Perrin Beatty talks with Margaret Stuart Country Manager, Salesforce, about the important role small business will play in our recovery, the work Salesforce has done to help out small business and much more. Watch now.