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RESOURCES FOR ENTREPRENEURS

COVID-19 is having an effect on all of us, and that will have an impact on your business, teams, customers and market. North Forge is here to help you get through this, and to help support you in any way we can. We have developed this site which provides resources and articles to help the business community navigate these uncertain times. We will continue to add and update information as we receive details.

The Government of Manitoba is launching a new service to connect Manitoba business, charities and not-for-profits to federal COVID-19 support programs. Managed through 24-7 InTouch, this service will provide outreach to ensure businesses, charities and non-profits know how to access available programs. Contact the Manitoba Economic Support Centre at 1-888-805-7554

For more information, resources and support, please join the North Forge Slack Channel.

Private Sector Financing

Investor list from Hockeystick: Hockeystick has a frequently updated list of active Canadian equity investors and debt financing solutions, geared towards startups of all stages. Make sure to review both the ‘equity’ and ‘lenders’ tabs for all funding options, as well as the ‘government’ tab for wage subsidy options.

Shopify Capital: Shopify has launched a small business lending solution for entrepreneurs who use their platform, offering a quick application process and the ability to repay through a percentage of sales on the platform.

Wage & Salary Assistance

Work Sharing: Income support to avoid layoffs if your employees are eligible for Employment Insurance (EI) benefits and your business is suffering a downturn due to COVID-19, you can apply for a work-sharing agreement. The agreement would allow your employees to work a temporarily reduced work week while receiving EI benefits.

10% Temporary Wage Subsidies: The Temporary Wage Subsidy for Employers is a three-month measure that will allow eligible employers to reduce the amount of payroll deductions required to be remitted to the Canada Revenue Agency (CRA).

75% Emergency Wage Subsidy: The Emergency Wage Subsidy provides a 75 per cent wage subsidy to eligible employers for 12 weeks. Eligible employers would be able to apply for the Canada Emergency Wage Subsidy through the Canada Revenue Agency (CRA) My Business account portal as well as a web-based application.

Executive Talent Program: The Executive Talent Program is designed to help Canadian start-ups or SMEs within the natural product sector achieve key growth milestones through a new hire of a C-level or other senior-level executives within the company. The repayable program can cover as much as $50,000 toward an executive’s salary in their first year with the company. Open call.

ICTC WIL Summer Placement Funding: ICTC offers funding for Canadian businesses hiring summer students working in the IT sector.

BioTalent Student Work Placement Program: BioTalent offers funding for Canadian businesses hiring STEM students for a co-op position.

Eco Canada Student Work Placement Program: Eco Canada offers funding for Canadian environmental businesses hiring science, technology, engineering, art, math (STEAM) and business students in a co-op position.

Venture for Canada: a funding program for interns to work specifically in startups. Interns can either be students or recent graduates.

Direct Government Support: Financing

EDC – BDC Purchase Order Financing: Take on more international contracts with EDC – BDC Purchase Order Financing. Get financing to cover up to 90% of the purchase order amount of contracts with international buyers.

Business Credit Availability Program (BCAP): This program is to help Canadian businesses obtain financing during the current period of significant uncertainty. The BCAP will support access to financing for Canadian businesses in all sectors and regions.

Farm Credit Canada: This program helps farmers, producers, agribusinesses and food processors remain financially strong with cash flow assistance.

BDC Small Business Loan: Through an online application process, this $10K – $100K loan can be used to buy equipment, purchase extra software or hardware, apply for a patent, trademark or other intellectual property protection. It is repayable over 5 years.

Women’s Enterprise Centre: Are you a women-owned or women-run business? WEC offers up to 5 year loans ($70K – $250K) and mentorship resources to qualified women-led businesses.

BDC Working Capital Loan: Get a loan to complement your line of credit in order to boost inventory and take advantage of supplier discounts. Working capital loans of up to $2 million with flexible repayment terms such as principal postponements for qualifying businesses.

NRC-IRAP Innovation Assistance Program: Canadian businesses that do not qualify for other federal funding assistance programs can apply to NRC-IRAP for financial assistance.

Government Financial Support

Canada’s Regional Development Agencies: COVID-19 response: A centralized government resource page that lists all benefits and financial assistance for employees, businesses, and those who are self-employed.

Coronavirus disease (COVID-19) Employment and Social Development Canada: For individuals looking for EI, child support, loans, passport services, emergency care.

Innovation Canada COVID-19 Portal: have revamped their portal and now list programs that may be particularly relevant to this COVID-19 situation.

Support for tourism operators and SMEs: Canada’s Regional Development Agencies (RDAs) are providing guidance on getting funding, support and/or flexible arrangements, on a case-by-case basis.

Flexibility for Tax Filing Deadlines: The CRA will allow all businesses to defer, until after August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. No interest or penalties will accumulate on these amounts during this period.

Proof of Concept Program: This Natural Products Canada program provides funds for companies and research institutions to demonstrate the commercial potential of natural products and technologies.

Partner Resource Sites

COVID-19 Resource Centre: Curated by TDS Law, this resource includes complimentary articles and alerts related to the pandemic, as well as a list of trusted and reputable links.

Deloitte COVID-19 Dashboard: Real-time analysis of the latest economic trends and impacts of COVID-19 in Canada, broken down by industry.

Economic Development Winnipeg COVID-19 Toolkit: Winnipeg-specific list of tools and resources for businesses, including weekly economic digests focused on the local economy.

Made Safe Manitoba COVID-19 Support: A guide on how to implement proper safety measures if you are still running as an essential business.

RBC COVID-19 Assistance Page: For existing or new RBC customers, get quick access to funding solutions. *Note: you must work with your current primary bank to apply for the Canada Emergency Business Account.

World Trade Centre Winnipeg COVID-19 Resource Page: A curated list of government and industry resources, as well as upcoming webinars for further information and training opportunities.

Other Resource Sites

111 free tools to help you through the coronavirus pandemic: Entrepreneur.com is curating a list of tools to help you easily transition to working from home

How to Build a “Buy Online, Pickup Curbside” store: Shopify has created a presentation to help you set up an e-commerce website.

COVID-19 Resource Centre: Curated by TDS Law, this resource includes complimentary articles and alerts related to the pandemic, as well as a list of trusted and reputable links.

COVID-19 Resources for Canadian Exporters: EDC has a list of resources available to support Canadian exporters impacted by COVID-19.

PwC’s COVID-19 Navigator: This tool can help you assess the impact to your business, and provide you with recommendations on what your focus should be to navigate the economic impact of COVID-19.

CBC COVID-19 Resource Page: An easy-to-navigate page that lists government support for individuals and businesses.

Government of Manitoba COVID-19 Resource Site: Alist of resources available for Manitoba businesses, as well as calls for needed materials and other supplies.

Resources for Women Entrepreneurs: The Women Entrepreneurial Knowledge Hub has a page of resources that women can access, including a list of webinars on a variety of business topics.