Small Business Support During the Coronavirus (COVID-19)

Small Business Support During the Coronavirus (COVID-19)

The COVID-19 pandemic has had a profound impact on small businesses’ ability to operate. According to a survey conducted by Statistics Canada in late 2020, small businesses reported suffering deeper financial distress than their larger counterparts. 

 More than half of Canadian businesses reported a decrease in revenue from 2019, but small companies suffered the deepest losses. According to the survey, approximately 20% of small businesses reported revenue losses of over 40% from 2019. The Canadian Federation of Independent Businesses surveyed its members in October and said that only 26% reported normal sales volumes in 2020.

 Although news of promising COVID-19 vaccines has offered hope that the pandemic might be under control by the summer of 2021, many small businesses need help weathering the dark winter to stay solvent. 

 Fortunately, the government’s COVID-19 Economic Response Plan and provincial governments offer significant resources and services for small businesses facing economic hardship.

Table of Contents

Rent and Mortgage Support

Canada Emergency Rent Subsidy (CERS) for Small Business Support

Insurance Mortgage Purchase Program Small Business Support

Small Business Support for Payroll

Canada Emergency Wage Subsidy (CEWS)

Employment Insurance (EI) Work-Sharing Program

Self-Employment Small Business Support

Canada Recovery Benefit (CRB)

Canada Recovery Sickness Benefit (CRSB)

Canada Recovery Caregiving Benefit (CRCB)

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Minority-Owned Small Business Support

Black Entrepreneurship Loan Fund

Indigenous-Owned Small Business Support

Relief Measures for Indigenous Businesses

Indigenous Community Business Fund

Loans and Financial Services for Small Businesses

Canada Emergency Business Account (CEBA) Interest-free Loans

Loan Guarantee for Small Businesses

Co-Lending Program for Small Businesses

Regional Relief and Recovery Fund (RRRF)

Bank of Canada Support

Guidance for Reopening Your Small Business

As surges in COVID-19 cases continue to close small businesses for short or more extended periods, the government is here to help you prepare your business for reopening and ensure that your staff and customers stay safe and healthy. The Canadian Centre for Occupational Health and Safety continues to deliver guidance on how companies can safely operate during the pandemic.

Guidance by Province or Territory

Communications Templates, Printable Signage, Toolkits, and Resources

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Group Benefit Plans: Help Reduce Small Business Overhead

With COVID-19 rocking the economy, it’s more important than ever for small and medium-sized businesses to reduce operating expenses across the board. 

Although some companies think cutting employee benefits is an excellent way to reduce overhead, that can be a mistake. A well-designed group benefits plan is critical in attracting and keeping good staff while ensuring their health and productivity.

 If you’re looking to cut costs, don’t sacrifice group benefits. Instead, get in touch with our team. 

At Group Enroll, we aim to offer the simplest solution to shopping for group benefits for your staff. Just fill out our request form, and we’ll deliver quotes from Canada’s top insurance companies in three days or less.

Types of Group Benefits Plans for Small Businesses

Businesses with as few as two employees can benefit from group insurance, which is available with a variety of coverage options, including prescriptions, dental, vision care, health care, hospital coverage, long- and short-term disability, life and accident insurance, critical illness insurance, and travel insurance.

 As brokers, we can quickly obtain your quotes from almost all major Canadian insurance providers, including:

  • Blue Cross
  • Desjardins
  • Green Shield Canada
  • Empire Life
  • Equitable Life
  • Great-West Life
  • Industrial Alliance
  • Manulife Financial
  • Nippon Life Insurance Company
  • RBC Financial Group
  • Sun Life Financial
  • The Co-operators
  • Wawanesa

Extended Health Care Group Benefits for Small Businesses

Group Dental Insurance for Small Businesses

Group Disability Insurance for Small Businesses

Group Life Insurance for Small Businesses

Group Retirement Savings Plans (RRSP) for Small Businesses

Health Care Spending Account (HCSA) for Small Businesses

Need Small Business Support? Get a Quote from Group Enroll

Although many small businesses have been hit hard by the COVID-19 crisis, companies have taken to expanding their group benefits in the interest of protecting employees’ health and well-being.

The pandemic has exacerbated anxiety and stress in all areas of life. Rewarding your staff with enhanced group benefits will give them a sense of security and allow them to be more productive.

 At Group Enroll, we make it quick and straightforward for you to find the right solution for your staff and your business. We understand that under the current crisis, your time is more valuable than ever. That’s why we make it easy for you to get quotes on available plans and evaluate their features, benefits, and costs. Request a quote today.