March 18, 2020
Although we’ve closed our physical doors to the public, the ventureLAB team is still here to help. We’re committed to providing you with exceptional experiences (virtually!) and supporting you while we navigate this new normal for the next while.
Last updated: January 18, 2021
ventureLAB has implemented a work-from-home policy for its team until further notice, but we are still working remotely to help you navigate your business during the COVID-19 pandemic. Read more about the policies and precautions we’ve taken during this unprecedented time.
We understand that this time for a small and medium-sized business may be uncertain or confusing, so we’ve compiled some resources your company can use to navigate this unfamiliar landscape:
Public Health Agency of Canada has also published considerable guidance on measures for workplaces that could be of assistance:
In addition, the following links are to specific resources for businesses to support their reopening:
Help Combat the Fight Against COVID-19
Canada Emergency Business Account
Ontario Small Business Grant: Updated January 18, 2021
The Ontario Small Business Grant provides a between $10,000 to $20,000 to eligible small businesses who restricted operations due to COVID-19.
Eligibility is for businesses who:
Were required to close or significantly restrict services due to the Provincewide Shutdown being imposed across the province effective 12:01 a.m. on December 26.
Have fewer than 100 employees at the enterprise level.
Have experienced a minimum of 20 per cent revenue decline in April 2020 compared to April 2019.
New businesses established since April 2019 will also be eligible if they meet the other eligibility criteria.
FedDev Ontario Regional Relief and Recovery Fund
The RRRF provides $213 million in support to southern Ontario SMEs that do not qualify for, or have been declined for, current Government of Canada COVID-19 relief measures.
Eligible applicants must:
For more information, including how to apply, please visit the FedDev Ontario website.
Canada Emergency Wage Subsidy (CEWS) Updated July 30
The new Canada Emergency Wage Subsidy (CEWS) provides a 75% wage subsidy to eligible employers for up to 12 weeks, retroactive to March 15, 2020. The CEWS prevents further job losses, encourages employers to re-hire workers previously laid off as a result of COVID-19, and help better position Canadian companies and other employers to more easily resume normal operations following the crisis.
The Canada Revenue Agency (CRA) has launched a calculator for businesses to determine what the subsidy will cover. The calculator is now available on the CRA website; businesses can begin to apply to the subsidy on Monday, April 27. In an effort to help businesses keep employees on the payroll, the subsidy will cover up to $847 per employee for up to 12 weeks — retroactive to March 15, 2020.
The CEWS is now providing a 10% Temporary Wage Subsidy for eligible employers for up to three months.
NRC IRAP Innovation Assistance Program Updated July 30
Applications for NRC IRAP are now closed.
Canada Emergency Commercial Rent Assistance Updated April 24
On April 16, the Government of Canada announced its intent to introduce the Canada Emergency Commercial Rent Assistance (CECRA) program for small businesses that will seek to provide loans and/or forgivable loans to commercial property owners who in turn will lower or forgo the rent of small businesses for the months of April (retroactive), May, and June.
Announced April 24:
Business Continuity Resources
Supports for Small Businesses and Entrepreneurs
Mental Health and Well-being
Global Supply Chains
Government responses to COVID-19