COVID-19 continues to affect businesses of all types, and no business is immune to the new challenges we are all facing. On the federal, provincial, and community level, a variety of supports have already been established to assist your business in these complicated times. To help you navigate through and make use of these opportunities, the City of Terrace established the Community Economic Response Team along with a variety of community partners, including the Terrace and District Chamber of Commerce, Community Futures 16/37, Kermodei Tourism, and the Regional District of Kitimat-Stikine.
We want to know how else we can help, so you can expect a call from our team! We are surveying licensed businesses in Terrace to find out what their needs are, and following up by sending them relevant resources.
Watch Mayor Carol Leclerc discuss the Economic Response Team (April 2)
The Terrace and District Economic Response Team has also set up a newsletter to keep you informed regularly. A link to the past editions is available here, and you can sign up by clicking the button below.
The list of supports below is not exhaustive, but it offers a vast range of supports available catered to the responses to the surveys we're currently administering. We are working as a team to stay on top of these opportunities and share them here.
If you see ** next to a support, it means it's a local support with someone in the Terrace area who understands the local economic and social situation, and can be a long-term resource to you and your business. Visit their website or ask us to make a connection for you.
- Terrace and District Chamber of Commerce**: The Terrace & District Chamber of Commerce is a voluntary non-profit association of business and professional men and women who have joined together to improve the civic and business welfare of Terrace. Join the Terrace Chamber today to be a part of an organization dedicated to make Terrace, and surrounding area, a great place to do business.
- Kermodei Tourism**: Kermodei Tourism is the destination marketing and management organization for the Terrace area. They leverage partnerships to help market Terrace to the region, province, country, and the rest of the world. They're also a great resource for tourism-related businesses, they help bring pride to the downtown area, and are huge supporters of local business.
- Community Futures 16/37**: Community Futures 16/37 is involved in lending, leveraging, business counseling, technical assistance, advising and facilitating. They partner and work with federal/provincial governments, banking communities, potential and existing entrepreneurs, band and tribal councils, municipalities, government agencies and local organizations (such as Northern BC Tourism Association, Chambers of Commerce, local colleges, and all community economic development organizations.
- Regional District of Kitimat-Stikine**: The Economic Development Commission is made up of the Regional Board Directors for the six electoral areas, as well as Stewart, Hazelton and New Hazelton. Through the continuous research and the development and promotion of economic development activities, the Commission will support the economic viability of the region through targeted strategies.
- Terrace Downtown Improvement Area Society**: formed by a Business Improvement Area bylaw, the TDIA supports businesses in the downtown core through marketing, beautification, safety, and events. They also administer several grants. This includes matching funds up to $1000 per business to offset costs related to Covid-19 mitigation infrastructure (dividers, barriers, etc.).
- Futurpreneur: The federal government is providing $20.1 million in support for Futurpreneur Canada to continue supporting young entrepreneurs across Canada who are facing challenges due to COVID-19. The funding will allow Futurpreneur Canada to provide payment relief for its clients for up to 12 months.
- Women's Enterprise Centre**: Women’s Enterprise Centre is focused on supporting women-owned businesses through this crisis so that when it is over you can get back to business as usual.
- COMING FALL 2020: the Women's Enterprise Centre is offering a peer mentoring group in Terrace. Facilitated by an experienced woman entrepreneur in your community, the group decides the focus of each meeting based on the interests and needs of its members (e.g. work/life balance, marketing, networking skills, cash flow management). Sign up here and learn more about it here.
- Small Business BC: Whether you are starting a business, or looking for new growth strategies, use business startup checklists, expert programs, and specialized bookstore to build your business. Small Business BC's resources provide you with important business tips and tools for Business Planning, Market Research, Marketing & Sales, Import/Export and much more.
- Search for supports applicable to your business needs in the large database of new and existing resources available through Small Business BC. Remember - Love Terrace businesses have additional financial discounts and free access to these resources!
- Small Business BC also offers lots of education from experts on many different topics - all are at low or no costs.
- Access Small Business BC's free Business Planning Resources list. This supplementary guide to the Business Plan Checklist includes links to third party business plan guides, recommended samples, and templates that can help your write your business plan.
- Indigenous Tourism Association of Canada: Non-repayable grants of up to $25,000 are offered to Indigenous tourism businesses. The Indigenous Tourism Association of Canada (ITAC) will work collaboratively with Indigenous tourism businesses and Provincial, Territorial Indigenous Tourism Organizations (PTITO) to advocate for accelerated funding, tools and supports necessary to recover from COVID-19 and grow the Indigenous tourism industry again in our country.
- Women's Entrepreneurship Network: The federal government is providing $15 million in new funding through the Women Entrepreneurship Strategy (WES). This funding will be available to existing WES Ecosystem Fund recipient organizations, enabling these third-party organizations to provide timely support and advice to women entrepreneurs facing hardship due to the COVID-19 pandemic.
- Canadian Business Resilience Network: Health and Safety info, toolkits, videos and webinars, tips and advice, info on financial support, data and research, and how Canada is going to reopen the economy are all categories of resources available. Well-organized catalogue of supports for businesses of all sizes and needs.
- Access the CBRN's resources here. Health and safety info, toolkits, videos and webinars, tips and advice, info on financial support, data and research, and how Canada is going to reopen the economy are all categories of resources available. Well-organized catalogue of supports for businesses of all sizes and needs.
- Canada Business App: Download Canada Business to see how to navigate government services, get recommendations tailored to your business, set up personalized notifications and find the answers you need to start up, scale up and access new markets.
- Canada Business Support Service: Answer a few questions to get a personalized list of support from this online tool.
- Indigenous Business Support: Short-term, interest-free loans and non-repayable contributions through Aboriginal Financial Institutions, which offer financing and business support services to First Nations, Inuit, and Métis businesses.
- Small Business Pivoting Information: Small Business BC provides practical ideas and inspiration to help you manage your business through this uniquely challenging time.
- Digital Economic Response Program: Innovate BC and the BC Acceleration Network are expanding the Digital Economic Response (DER3) program across the province. The program helps businesses transition into the digital economy or expand their digital footprint. Answer a few questions and get customized assistance.
- BC Agri-Business Planning Program: Agriculture, seafood, and food processing businesses in B.C. that have had their revenues decreased by at least 30% as a result of COVID-19 may be eligible for up to $5,000 in business planning services and coaching for individuals, and up to $20,000 for groups from a qualified business consultant, to develop an immediate and long-term recovery plan.
- Cyber Security for Terrace Businesses webinar**: The pandemic has caused an increase in our online communications, which has created an opportunity for online scammers to take advantage of us. Learn about avoiding cyber attacks and mitigating damages by being aware of tips, tools, and services available to keep your business safe.
- Terrace Business Disaster Preparedness and Planning**: Tune into a Disaster Planning webinar where experts will speak to their experiences with disasters, how businesses have planned well and absorbed the impact of the event - and some who didn’t and why not.
- Market Research Resources Guide: Small Business BC’s Market Research Resources Guide supplements the Market Research Checklist, taking you through the nine steps to understanding your target market, competitors, trends and operations.
- Business Adaptations to Covid-19 webinar**: This webinar will give the perspectives of a variety of Terrace business owners on the motivations, successes, and challenges they’ve encountered with the COVID-19 pandemic’s impact on their businesses, implementing things like new websites, e-commerce, and pickup or delivery options for their customers.
- Love Terrace**: Love Terrace is open to independently owned, non-franchise businesses that are located in our project communities. Certain kinds of home-based businesses are eligible including artisans, crafters, artists, food producers and farmers. Love Terrace as a marketing tool works best for businesses that are focused on retail goods and services rather than industrial companies. Learn more and sign up here.
- Support Local BC**: Support Local BC is an online gift certificate marketplace where 100 per cent of the proceeds go directly to the business owners. Learn more and sign up for free here.
- Marketing and Communications Webinar "Connecting with Terrace Customers"**: This webinar will give local businesses some recommendations regarding letting customers how to continue to access their goods and services, and information on supports for businesses. Participants will get the perspective of marketing and communications specialists from the Coast Mountain College, Northern BC Tourism Association, and Northern Development Initiative Trust.
- 90-day Shopify Trial: Shopify has partnered with the Federal government to help small businesses bring their operations online with an extended 90-day trial to Shopify’s e-Commerce platform and access to a suite of resources to build an online store.
- Get Your Store Online: Community Futures partnered with Shopify to present a webinar for CF clients and businesses on digital business transformation - how to get your store online in changing times. This is available to all businesses. Presentation slides available here.
- Marketing and Sales Plan: This comprehensive resource will explain the outside factors you need to consider, what tools are at your disposal, and which markets to target as you create your marketing and sales strategy. Whether you need to research your target market, define your brand, develop a sales forecast, close sales or develop your customer service, download this guide and get started.
- WorkSafeBC Covid-19 Safety Plan: Employers are required to develop a COVID-19 Safety Plan that outlines the policies, guidelines, and procedures they have put in place to reduce the risk of COVID-19 transmission. This tool will guide you through a six-step process to help you create your plan.
- WorkSafeBC - Returning to Safe Operations Webinar**: Listen to a special edition webinar with Occupational Safety Officer for Prevention Services, Larry Joice of WorkSafeBC, as he responds to questions from the Terrace business community about what employers need to be thinking of as operations start to increase as regulations start to lift. Presentation slides available here.
- WorkSafeBC deferring payments: For employers who report and pay on a quarterly basis, WorkSafeBC is allowing employers to defer payments for the first and second quarter without penalty or interest. Payments for the first and second quarters will not be due until October 20, 2020.
- ICBC Changes: ICBC has changed various services including autoplan insurance and payment plans, injury care after a crash, knowledge tests, vehicle and glass repais, as well as other services. Click the link to learn more.
- Manufactured Forest Products Regulation Changes: The Province has made changes to the MFPR to ensure more accessibility to fibre for local manufacturers, supporting local employment and encouraging more value for British Columbians for timber harvested from public resources. The effective date of these changes has been moved to September 30, 2020.
- Liquor Licensee Support: From July 2020 until March 31, 2021, liquor licensees can purchase beer, wine and spirits at reduced cost under a temporary wholesale pricing model.
- Expansion of Patio Areas: Food-primary, liquor-primary and manufacturer licensees such as wineries, breweries and distilleries may apply through a simplified online process to temporarily expand their service areas.
- BC Covid-19 Page: The Province's page listing provincial health orders, guidance, data modelling, and resources regarding BC's current state in the Covid-19 pandemic.
- Guiding Health Principles for Business Operators: this Northern Health document gives guidance and insight into things to consider to keep business staff and customers safe.
- Regional Relief Recovery Fund (RRRF)**: The federal government is providing nearly $962 million through the Regional Relief and Recovery Fund (RRRF) to help more businesses and organizations in sectors such as manufacturing, technology, tourism and others that are key to the regions and to local economies. This fund is specifically targeted to those that may require additional help to recover from the COVID-19 pandemic, but have been unable to access other support measures.
- Competitiveness Consulting Rebate**: The Competitiveness Consulting Rebate program provides a rebate to small and medium sized businesses in eligible industries in the Trust’s service region for customized consulting services. A rebate of up to 50% to a yearly maximum of $30,000 can be recovered for the cost of external business consulting projects. Projects must focus on increased productivity, new or incremental revenues, profitability and/or job creation.
- Facade Improvement**: The Terrace Downtown Improvement Area Facade Improvement Program will match dollar per dollar, a reimbursement grant up to a maximum of $5,000 per building/project to improve the facades of downtown buildings.
- Downtown Security Grant**: in the downtown core, businesses that wish to enhance security of their premises through environmental design, security cameras, lighting etc., can apply to the TDIA for a matching grant of up to $500.
- Downtown Marketing Grant**: The TDIA supports marketing of downtown initiatives (not specific businesses) that drive traffic to the downtown.
- Human Resources during Covid-19 webinar**: Join us and our panel of experts as we learn about the challenges employers are facing during Covid-19 and how to best navigate as the province moves to re-open.
- Canadian Emergency Wage Subsidy (CEWS) 75%: The CEWS will allow you to re-hire your employees and avoid layoffs as the economy continues to safely reopen.
- Canadian Emergency Wage Subsidy 10%: The Temporary 10% Wage Subsidy is a three-month measure that allows eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency.
- EI Work-Sharing: This measure will provide income support to employees eligible for Employment Insurance who agree to reduce their normal working hours because of developments beyond the control of their employers.
- Customs Relief on Tarrifs: The federal government is waiving tariffs on certain medical goods, including PPE such as masks and gloves. This will reduce the cost of imported PPE for Canadians, help protect workers, and ensure our supply chains can keep functioning well.
- Canadian Emergency Business Account (CEBA): The Canada Emergency Business Account (CEBA) provides interest-free loans of up to $40,000 to small businesses and not-for-profits, to help cover their operating costs during a period where their revenues have been temporarily reduced. This program has been implemented by banks and credit unions in collaboration with Export Development Canada. Business owners can apply for support from CEBA through their banks and credit unions.
- Business Credit Availability Program (BCAP) - EDC loan guarantee: Through the Business Credit Availability Program, Export Development Canada (EDC) is working with financial institutions to guarantee 80% of new operating credit and cash flow term loans of up to $6.25 million to small and medium-sized enterprises (SMEs). This financing support is to be used for operational expenses and is available to both exporting and non-exporting companies. This program is now available at various banks and credit unions.
- BCAP - BDC co-lending: Through the Business Credit Availability Program, Business Development Canada (BDC) is working with financial institutions to co-lend term loans of up to $6.25 million to SMEs for their operational cash flow requirements. The program offers differing maximum finance amounts based on business revenues. This support is available until or before September 30, 2020. This program is now available at various banks and credit unions.
- Canadian Emergency Commercial Rent Assistance (CECRA): Canada Emergency Commercial Rent Assistance (CECRA) provides relief for small businesses experiencing financial hardship due to COVID-19. Over the course of the program, property owners will reduce rent by at least 75 % for the months of April, May, June, July and August for their small business tenants. CECRA will cover 50 % of the rent, with the tenant paying up to 25 % and the property owner forgiving at least 25 %.
- BCAP - Mid-Market Program: Financing from BDC: Through the Business Credit Availability Program, the Business Development Canada’s (BDC) Mid-Market Financing Program will provide commercial loans ranging between $12.5 million and $60 million to medium-sized businesses whose credit needs exceed what is already available through the Business Credit Availability Program and other measures. BDC anticipates that qualifying companies will have annual revenues in excess of approximately $100 million.
- BCAP - Mid-Market Program: Loan guarantee and financing from EDC (COMING SOON): Through the Business Credit Availability Program, EDC’s Mid-Market Guarantee and Financing Program will bring liquidity to companies who tend to have revenues of between $50 million to $300 million, to sustain operations during this uncertain period. EDC will continue to work with Canadian financial institutions to guarantee 75 % of new operating credit and cash-flow loans – ranging in size from $16.75 million to a maximum of $80 million. These expanded guarantees are available to exporters, international investors and businesses that sell their products or services within Canada. More details will be made available soon.
- Canadian Emergency Response Benefit (CERB): The federal government is providing a taxable benefit of $2,000 every 4 weeks for up to 24 weeks to eligible workers who have stopped working or whose work hours have been reduced due to COVID-19. An online questionnaire will help us direct you to the service option that best fits your situation (i.e. eligibility for Employment Insurance benefits or not). This includes support for self-employed individuals.
- Farm Credit Canada - Payment deferrals and credit line program: To ensure producers, agribusinesses and food processors can remain focused on business-critical functions rather than worrying about how to access funds to keep operating through this challenging period, effective immediately, FCC has put in place a deferral of principal and interest payments up to six months for existing loans or a deferral of principal payments up to 12 months
access to an additional credit line up to $500,000, secured by general security agreements. If you’d like more information on these options or on how FCC can help improve your financial position, please contact your local office or the Customer Service Centre at 1-888-332-3301 for further details.
- Unity Women Entrepreneurs Program: Vancity is offering loans of up to $150,000 to women entrepreneurs who have been in business for more than two years. The program also provides support services from the Women’s Enterprise Centre, including online education and resources on financial management, and preferred entry into the Women Enterprise Centre’s Mentoring Program.
- Free PPE: the City has lots of PPE remaining (over 5,000 items) from the generous donation from Skeena Sawmills. Email Ann Maher (firstname.lastname@example.org) to request KN95 masks, surgical masks, and white coverall suits. This PPE is free for local businesses!
- PPE Marketplace: Search for PPE and non-medical safety equipment (sanitizer, counter guards, etc.) for your business, or register your business as a supplier to get connected to other businesses looking for your product.
- Lawyer Referral Service: Access Pro Bono's Lawyer Referral Service helps British Columbians of any income to find a suitable lawyer to serve their legal needs. Any member of the public may call the Lawyer Referral Service to contact a lawyer who will meet for up to a half-hour of free legal consultation.
- Temporary Emergency Child Care for Essential Workers: This service is for families who are in need of child care or children aged infant to 12 years. Please note: preference for care will be given to essential service workers, according to tier; this form may also be used to access before and after school care or child care during the summer; children of essential service workers who are school aged can attend school full-time under Stage 3 of the K-12 Education Restart. ASL Video for this page.
- Temporary Emergency Fund for Child Care Providers: Temporary Emergency Funding (TEF) is available to licensed child care providers who have a 2020/21 funding agreement through the Child Care Operating Funding Program (CCOF). This funding is intended to help providers who are open, continue to support essential service workers and families in their community and help those who need to temporarily close, get back up and running when they are able.