Over 900,000 Canadian small businesses had to take on a CEBA loan just to survive two years of lockdowns and business restrictions. And CEBA loans form just a part of the average $110,000 in COVID-related debt inherited by two-thirds of Canada’s small business owners.
For a strong and lasting economic recovery, the federal government must establish a plan to help small firms reduce their COVID debt burdens. Add your voice to thousands of other business owners across the country and ask government to make small business recovery a priority.
Highlights of CFIB's COVID-19 work
Thanks to the surveys our members have filled out, CFIB has been able to show politicians what kind of relief business owners need. Through thousands of meetings, calls, letters and media appearances, we have successfully fought for improvements to the key aid programs available to small businesses.
After the initial 10% wage subsidy was announced in March, we successfully fought to raise it to 75% and for the subsidy to be given on a sliding scale – meaning businesses with any revenue loss qualified for something. We also pushed the government to extend it to fall 2021, which it has done.
Learning from the failures of the CECRA program, CFIB told government that rent assistance should not hinge on landlord participation – which the Canada Emergency Rent Subsidy addresses.
CFIB has consistently fought for the expansion of the Canada Emergency Business Account. So far, we’ve gotten the government to include businesses without payroll; expand the loan to $60,000 (from $40,000); increase the forgivable portion to $20,000; and allow access to businesses using personal bank accounts.