5. Contact Us
LEDC is here to support employers during these challenging economic conditions. Consider us your one-stop-shop for everything COVID-19 - we're here to connect you to the information you need and the answers you're looking for.
Have an innovative idea to support local businesses during COVID-19? Facing a challenge and exploring your options?
Let's generate solutions together.
We are all in this together. Stay healthy, stay safe, and stay resilient.
The following websites are providing updates about COVID-19 as they happen. Monitor these in addition to other local media outlets for more information.
Business Closures - Stay Informed
Supporting Local, Virtually
Support London Businesses is a grassroots initiative started by rTraction to explore a number of stores in London that you can continue supporting digitally through COVID-19. From health and wellness to arts and crafts, continue shopping local whether it's buying a gift card or getting local food delivered
·The City of London has enhanced its physical distancing measures on sidewalks, roads and parks to keep you safe.
· Would your business benefit from thermal fogging? Essential Cleaning in London uses a 99.99% disinfectant to safely sanitize spaces, ideal for the medical and essential services. Please visit their website to learn more and contact them
The Food Safety Alliance (FSA) supplies antimicrobial chemicals and antiviral disinfectants to the food, beverage, and cannabis production sectors. Their disinfecting and sanitizing services are also applicable to manufacturing and other commercial facilities. Contact the FSA directly to learn more
· The Council of Canadian Innovators has launched a dedicated COVID-19 Tech Group on Slack for Canadian technology workers. It’s a great live resource and community for companies and individuals, and much of the content is applicable across industries
· RH Accelerator has launched RH Online - a free service for the founder community to support companies with responding to the COVID-19 crisis and beyond. RHA Online allows you to experience a part of the full RH Accelerator experience without the formal enrollment in the program
· Consys Group Inc. has prepared a quick assessment tool to assist with determining how remote-work ready your business is. Once you complete the form and submit your answers, they will contact you with your assessment results in addition to some recommendations and guidance in setting your remote office up for success
· Western IT Group is offering no-charge consultations to review your organizations business continuity planning (BCP) and discuss options surrounding Voice over IP (VOIP) and Remote Access for employees, allowing your organization to remain agile and implement measures to have employees working remotely in a timely and efficient manner while minimizing operational downtime
· To keep the focus of Cyber Security in the minds of local businesses Techdoz has launched London Tech Tools to help businesses in the community settle into their new technology lifestyles
Managing Virtual Teams
· Info-Tech Research Group has developed a COVID-19 Resource center, with a complimentary CIO Strategy for COVID-19 and upcoming webinars
In response to COVID-19 and to help mitigate impacts on Londoners and local businesses, the City of London is providing immediate economic relief through the following:
· All interest and penalties for unpaid Interim 2020 Property Tax Installments that come due on March 31, 2020 will be waived for a period of 60 days.
· All interest and penalties for unpaid water and wastewater billings will be waived for a minimum period of 60 days.
· All Community Improvement Plan (CIP) loan repayments will be deferred on an interest-free basis for a minimum period of 60 days
You can stay informed on any further updates from the City of London here on their website. Additionally, the Mayor's Economic Impact and Recovery Task Force have developed a brief and easy to navigate summary of the Provincial and Federal resources available to London's businesses. You can read the list here.
The Ontario Government has recently announced a number of updates to support employers and employees:
· For a 45-day period, the government is working to suspend time-of-use electricity rates, holding electricity prices to the off-peak rate of 10.1 cents-per-kilowatt-hour. This reduced price will be available 24 hours per day, seven days a week to all time-of-use customers - including families, small businesses and farms. Learn how you can see rate reductions of over 50%
· The delivery of goods to Ontario's businesses and consumers will no longer by impacted by municipal noise by-laws. Read the Municipal Emergency Act, 2020 for more
· Job-protected leave is available for employees who are in isolation or quarantine due to COVID-19, or those who need to be away from work to care for children because of school or daycare closures or to care for other relatives. Read the Employment Standards Amendment Act (Infectious Disease Emergencies), 2020 for more
The Government of Canada has launched a COVID-19 Economic Response Plan to provide up to $27 billion in direct support to Canadian workers and businesses. New support for Canadian businesses has recently been announced, including:
· Canada Emergency Business Account: 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
· New Loan Guarantee for SMEs, where EDC will guarantee new operating credit and cash flow term loans that financial institutions extend to SMEs, up to $6.25 million
· New Co-Lending Program for SMEs, where eligible businesses may obtain incremental credit amounts up to $6.25 million BDC’s portion of this program is up to $5 million maximum per loan
· Contact your financial institution to see if your business is eligible to apply to these programs
· Navigate all of the Ontario and Federal Government's financial support for businesses in this overview
· If your business is located in Ontario, use this self-assessment developed by rtraction and Benjamin Glauss to help determine which financial help measures apply to your business. Fill out the assessment here
· Take a look at Deloitte Canada's COVID-19 Economy Recovery Dashboard - a live look at Canada's economy to prepare businesses for recovery
Employers - Avoiding Layoffs
· To avoid layoffs, the government has launched an EI Work-Sharing program, easing eligibility requirements, and streamlining the application process. Have questions regarding EI Top-Up Benefits? Contact the Supplmental Unemployment Benefit Program at 1-800-561-7923 or email Subemail@example.com indicating the company name, business number (if applicable), and your question
· To help businesses keep and return workers to their payroll, the Canada Emergency Wage Subsidy (CEWS) will provide eligible employers with a temporary wage subsidy of 75% for up to 12 weeks, retroactive to March 15, 2020. Find out if you're eligible and learn how you can apply here. Note that the CRA administers this program - you can reach out directly to a CRA rep with questions here.
Employers - Access to Credit
· To help businesses access credit, a Business Credit Availability Program (BCAP) will allow the Business Development Bank of Canada (BDC) and Export Development Canada (EDC) to provide more than $10 billion of additional support, largely targeted to small and medium-sized businesses:
o BDC is offering working capital loans of up to $2 million with flexible terms and payment postponements for up to 6 months for qualifying businesses; Postponement of payments for up to six months, free of charge, for existing BDC clients with total BDC loan commitment of $1 million or less; and Reduced rates on new eligible loans
o EDC will enhance its financing and insurance programs to ensure that financially viable impacted companies have access to the credit and support they require during the coronavirus pandemic
Support for Farmers
· Through Farm Credit Canada (FCC), farmers, producers, agribusinesses, and food processors can access $5 billion in lending and will receive extensions to previous loans. Contact FCC to see if you're eligible to access this program
Supporting Financial Stability
· Canada's six biggest banks have made a commitment to work with personal and small business banking customers to help them manage through challenges such as pay disruption due to COVID‑19; childcare disruption due to school closures; or those facing illness from COVID‑19. Interest rates have been cut by the Bank of Canada to 0.75%. Contact your financial institution to see if your business is eligible to access their programs
· The Canada Revenue Agency 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
· The Workplace Safety and Insurance Board (WSIB) in Ontario has created a financial relief package to that allows businesses to defer premium reporting and payments until August 31, 2020. More information on how to apply can be found here
· If your tourism agency or small-to-medium sized business is affected by COVID-19, Canada's Regional Development Agencies can help you keep your business running
· A number of measures to help businesses support their employees have also been announced. The one-week waiting period for Employment Insurance (EI) sickness benefits has been waived
· The Canada Emergency Response Benefit (CERB) supports Canadians by providing financial support of $2,000 for a 4-week period for up to 16 weeks to employed and self-employed Canadians who are directly affected by COVID-19. Apply for CERB here
· Please view the entire list here of employee COVID-19 resources and supports
Ontario welcomes help from businesses and organizations who can supply emergency products and innovative solutions to support our response to COVID-19. Please click the links in the corresponding bullet point that your business can help with:
Ontario Centres of Excellence has launched a COVID-19 Collaboration Platform for Ontario innovators to come together and respond to support this collective effort. If you have a solution or need collaborators to make your solution possible, visit the hub here.
Are you a business that can supply products and services in support of Canada's response to COVID-19? The following are in high-demand:
For more information, please visit the Public Works and Government Services of Canada website.
Additionally, if you are a Canadian manufacturer or business that can assist Canada in meeting the need for medical supplies, your help is needed.
If you can say yes to the following, the government wants to hear from you.
The Plan to Mobilize Industry to fight COVID-19 directly supports businesses to rapidly scale up production or re-tool their manufacturing lines to develop products made in Canada that will help in the fight against COVID-19.
The National Research Council's Industrial Research Assistance Program will build on its existing relationships with thousands of Canada's most innovative small and medium-sized businesses to pose challenges to the marketplace for innovative solutions to fight COVID-19. The most promising solutions will be selected for procurement, working with Innovative Solutions Canada
Please send a short summary of your offer to firstname.lastname@example.org.
Additional Requests to Support COVID-19 Challenges
As London, Canada's lead economic development organization, the London Economic Development Corporation (LEDC) is committed to supporting the local employers and employees that drive our economy.
With health and safety top of mind right now for both the community and our staff, the LEDC will provide support via phone, email, and video conferencing. We are postponing upcoming events, meetings, and engagements until further notice and will provide these opportunities virtually wherever possible.
These are dynamic times. Please get in touch with our team so we can support you through these challenging economic conditions.
We look forward to staying connected virtually and hosting you at one of our events, workshops, or meetings in the future.
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