Backgrounder: Relief and recovery funds for western businesses

September 3, 2020 – Winnipeg, Manitoba – Western Economic Diversification Canada

Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada (WD), announced $154,529,904 to date in support of 2,446 businesses that were not able to access existing Government of Canada COVID-19 relief measures. This WD funding comes from the Regional Relief and Recovery Fund.

$75.3 million for main street businesses and SMEs

The Regional Relief and Recovery Fund was established to mitigate the financial pressure experienced by businesses to allow them to continue their operations. The projects announced to date include Stream 1 funding of up to $40,000 for 2,242 projects to support a wide-range of businesses across Western Canada:

· British Columbia: 813 projects ($27,309,950)
· Alberta: 1,250 projects ($41,995,801)
· Saskatchewan: 110 projects ($3,719,715)
· Manitoba: 69 projects ($2,261,042)
Grand total: 2,242 projects ($75,286,508)

RRRF support includes $79.2 million for broader business sector

WD is targeting support to help businesses retain diverse and valuable talent; maintain sector knowledge and skills; maintain capital flow; maintain critical supply chains and increase capacity to withstand supply chain disruptions; protect technologies and processes that improve resilience, productivity, and/or competitiveness; and     protect vital intellectual property. The Stream 2 funding announced to date includes 204 such projects designed to support western Canada’s economy:

· British Columbia: 67 projects ($26,541,738)
· Alberta: 97 projects ($36,997,066)
· Saskatchewan: 24 projects ($9,497,014)
· Manitoba: 16 projects ($6,207,578)
Grand total: 204 projects ($79,243,396)

Supporting businesses of all sizes

Businesses, large or small, are the backbone of the Canadian economy, and their recovery is critical to Western Canada’s success. WD is providing $69.3 million to support very small businesses (those with 4 and under employees), $80 million to support small businesses (5-99 employees), and $5.2 million to support medium businesses. Through these investments, 10,971 jobs are protected.

British Columbia:

· 1,024 jobs protected in 725 firms with 1-4 employees
· 2,574 jobs protected in 151 firms with 5-99  employees
· 620 jobs protected in 4 firms with 100+ employees

Alberta:

· 1,581 jobs protected in 1,134 firms with 1-4 employees
· 3,367 jobs protected in 210 firms with 5-99  employees
· 455 jobs protected in 3 firms with 100+ employees

Saskatchewan:

· 187 jobs protected in 91 firms with 1-4 employees
· 609 jobs protected in 41 firms with 5-99  employees
· 49 jobs protected in 2 firms with 100+ employees

Manitoba:

· 101 jobs protected in 59 firms with 1-4 employees
· 395 jobs protected in 25 firms with 5-99  employees
· 9 jobs protected in 1 firm with  100+ employees  

Total:

· 2,893 jobs protected in 2,009 firms with 1-4 employees
· 6,945 jobs protected in 427 firms with 5-99  employees
· 1,133 jobs protected in 10 firms with 100+ employees
· Grand total: 10,971 jobs protected in 2,446 firms

Related products

· News Release - Over $154 million in relief and recovery funds for businesses in Western Canada

Associated links

· Western Economic Diversification Canada
· Regional Relief and Recovery Fund
· Canada’s COVID-19 Economic Response Plan