As our economy continues to recover, we are pivoting our support for businesses to support rehiring efforts and to targeted sectors hit hardest by the pandemic. While many programs are ending, others will remain in place to provide continued support until all businesses can fully recover.
Please see below a list of important business support programs.
Click here for a complete list of business support programs.
Canada Recovery Hiring Program
The Canada Recovery Hiring Program provides a subsidy on eligible salary or wages to help hard-hit businesses hire the workers they need to recover and grow as local economies reopen.
This program allows eligible employers to hire new workers, increase workers' hours, or increase wages at a pace that works for them. As with the Canada Emergency Wage Subsidy, eligible employers can apply for support after each four-week period of the program.
The government is proposing to extend this program until May 7, 2022, for eligible employers with current revenue losses above 10%, providing an increased subsidy rate to 50%.
Canada Emergency Wage Subsidy
The Canada Emergency Wage Subsidy provides support to eligible employers to cover part of their employees' wages. This subsidy helps employers re-hire workers, helps to prevent further job losses, and keeps employees on payroll at their place of work during the COVID-19 pandemic.
The government is proposing targeted support for eligible hard-hit employers until March 13, 2022. This support would be available through two new streams:
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The Tourism and Hospitality Recovery Program, which would provide support to businesses like hotels, tour operators, travel agencies and restaurants, with a subsidy rate of up to 75%.
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The Hardest-Hit Business Recovery Program, which would support other hard-hit businesses, with a subsidy rate of up to 50%.
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From March 13, 2022, to May 7, 2022, the subsidy rates will decrease by half.
Canada Emergency Rent Subsidy
The Canada Emergency Rent Subsidy provides a rent and mortgage subsidy for eligible expenses to qualifying businesses, charities and non-profits. This support is available directly to tenants and property owners.
Qualifying businesses and other organizations that have been significantly restricted by a mandatory public health order issued by a qualifying public health authority can receive an additional 25% in rent support through the Lockdown Support.
The government is proposing targeted support for eligible hard-hit employers until March 13, 2022. This support would be available through two new streams:
-
The Tourism and Hospitality Recovery Program, which would provide support to businesses like hotels, tour operators, travel agencies and restaurants, with a subsidy rate of up to 75%.
-
The Hardest-Hit Business Recovery Program, which would support other hard-hit businesses, with a subsidy rate of up to 50%.
-
From March 13, 2022, to May 7, 2022, the subsidy rates will decrease by half.
Highly Affected Sectors Credit Availability Program (HASCAP)
The Highly Affected Sectors Credit Availability Program provides businesses heavily impacted by COVID-19, access guaranteed, low-interest loans of $25,000 to $1 million to cover operational cash flow needs.
HASCAP is available to businesses that operate in sectors such as tourism and hospitality, restaurants and those that primarily rely on in-person services.
Business owners can apply for support until December 31, 2021