By Darren Davidson, Business Buzz Columnist
It’s been a harrowing week for the world, with, we’re told, far more to come.
But the sage and sane message from health officials, community leaders and level-headed media is the same: Don’t panic. Prepare.
For businesses small and large, that was the message Monday afternoon from the BC Chamber of Commerce. Nelson and District Chamber of Commerce executive director Tom Thomson and Chamber president Tanya Finley were amongst dozens of Chamber leaders across the province who took part in a one hour on-line meeting with BC Chamber CEO Val Litwin.
The mood of the call was calm and focused.
“And that’s the way we have to approach it,” says Thomson, who reiterated the priorities being stressed by the Canadian Chamber of Commerce — the health and safety of all Canadians first and foremost, with the health of the economy and business a close second.
“The Nelson and District Chamber of Commerce is working with our Canadian and BC Chamber partners to be the conduit of information from business to government on how impactful this COVID 19 pandemic is now,” says Thomson.
“Businesses play a critical role in protecting the health and safety of employees, and limiting the negative impact on the economy and communities.”
Excellent resources are already being provided by the Canadian Chamber of Commerce. If you own a business visit chamber.ca/resources/pandemic-preparedness.
The Business Development Bank of Canada — one of the main conduits for the federal government’s first $10 billion in COVID-19 funding, along with Export Development Canada — also has advice that will help, at https://bit.ly/38UBJTt.
Both Thomson and Finley say that the BC Chamber of Commerce website is the best source to start with — here to be exact: bcchamber.org/financial-resources-bc-businesses.
A BC Chamber COVID-19 survey of B.C. businesses launched last week had received over 2,300 responses as of Monday. The stats provide a frontline snapshot of the steep economic challenges ahead.
• Sixty per cent of businesses in B.C. expect a 50 per cent decline in revenue from COVID-19 containment measures
• Eighty-one per cent said their businesses are being affected, either by government or voluntary public measures (avoiding restaurants, pubs, movie theatres, etc.)
• Close to 90 per cent said they expect to experience impacts in the near future.
• Sixty-one per cent said they are seeing meetings and events cancelled.
According to an article published online Monday by Business In Vancouver, in terms of the support B.C. businesses want to see from Ottawa, many hope the federal government will be flexible on tax remittances and eliminate penalties for late remittances. They also want to see the government work with banks to provide business with zero interest loans, loan guarantees and lines of credit, plus enhanced access to unemployment insurance for employees that have to be laid off.
What can Nelson residents do to help bolster their neighbourhood businesses?
“The heart and soul of our community are our local businesses,” says Mayor John Dooley, “and we all need to continue with business as usual at this time.”
That means visiting businesses in person, considering delivery of products or buying a gift card.
Dooley stresses that essential City of Nelson services such as electricity, water, sewer and emergency services will continue to be available with “as little disruption as possible.”
“The city has developed business continuity plans for all of our departments,” says the mayor, “and we’re providing the necessary education and tools to help our staff stay healthy.”
Dooley says other assistance on the near horizon include waiving the one-week waiting period for EI to help self-isolating employees immediately access funds and introducing special measures under Ottawa’s Work-Sharing program — an adjustment program designed to help employers and employees avoid layoffs during a temporary reduction in business activity that is beyond employer’s control.
Additionally, the establishment of a Business Credit Availability Program would increase liquidity for Canadian businesses experiencing cash flow challenges as a result of COVID-19.
Finley says what’s most important is to remember the road ahead is one Nelson residents will be travelling as one.
“The Chamber is going to work on your behalf,” says Finley. “We love our community, and we’re all in this together.“
