Backgrounder: Relief and recovery funds flowing to western businesses

Today, the Honourable Mélanie Joly, Minister of Economic Development and Official Languages, and Minister responsible for Western Economic Diversification Canada (WD), announced over $95,136,762 in support to help over 1,767 businesses that were unable to access existing Government of Canada COVID-19 relief measures. This is the first funding from WD to flow from the Regional Relief and Recovery Fund.

$55.3 million for main street businesses and SMEs

The Regional Relief and Recovery Fund was established to mitigate the financial pressure experienced by businesses to allow them to continue their operations. The projects announced today include Stream 1 funding of up to $40,000 for 1,672 projects to support a wide-range of businesses across Western Canada:

• British Columbia: 599 projects ($19,959,551)
• Alberta: 921 projects ($30,484,242)
• Saskatchewan: 92 projects ($3,013,284)
• Manitoba: 60 projects ($1,866,653)

Grand total: 1672 projects ($55,343,730)

RRRF support includes $39.8 million for broader business sector

WD is targeting support to help businesses retain diverse and valuable talent; maintain sector knowledge and skills; maintain capital flow; maintain critical supply chains and increase capacity to withstand supply chain disruptions; protect technologies and processes that improve resilience, productivity, and/or competitiveness; and     protect vital intellectual property. The Stream 2 funding announced today includes 95 such projects designed to support western Canada’s business ecosystems:

• British Columbia: 14 projects ($7,237,997)
• Alberta: 45 projects ($17,865,708)
• Saskatchewan: 22 projects ($9,364,514)
• Manitoba: 14 projects ($5,324,813)

Grand total: 95 projects ($39,793,032)

Supporting businesses of all sizes

Businesses, large or small, are the backbone of the Canadian economy, and their recovery is critical to Western Canada’s success. WD is providing $50.3 million to support very small businesses (those with 4 and under employees), $41.6 million to support small businesses (5-99 employees), and $3.1 million to support medium businesses. Through these investments, 6829 jobs are protected. 

British Columbia:

• 692 jobs protected in 525 firms with  4 employees and under
• 1378 jobs protected in 87 firms with  5-99  employees 
• 225 jobs protected in 1 firm with  100+ employees 

Alberta:

• 1163 jobs protected in 838 firms with  4 employees and under
• 1784 jobs protected in 125firms with  5-99  employees 
• 464 jobs protected in 3 firms with  100+ employees 

Saskatchewan:

• 157 jobs protected in 75 firms with  4 employees and under
• 563 jobs protected in 37 firms with  5-99  employees 
• 49 jobs protected in 2 firms with  100+ employees 

Manitoba:

• 84 jobs protected in 52 firms with  4 employees and under
• 261 jobs protected in 21 firms with  5-99  employees 
• 9 jobs protected in 1 firm with  100+ employees   

Total:

• 2096 jobs protected in 1490 firms with  4 employees and under
• 3986 jobs protected in 270 firms with  5-99  employees 
• 747 jobs protected in 7 firms with  100+ employees 

Grand total: 6829 jobs protected in 1767 firms

Related products

·        News Release - Over $95 million in relief and recovery funds flow to businesses in Western Canada

Associated links

·        Western Economic Diversification Canada

·        Regional Relief and Recovery Fund

·        Canada’s COVID-19 Economic Response Plan