DigiBC recognizes that our members are having an array of business challenges during this crisis, ranging from a few issues to very significant business threats. As your trade association, we are working to ensure our industry, as diverse as it is, comes out of this in the most positive way possible. Going forward, we will send out a weekly update every Friday that will have pertinent information for our members on government policies, industry responses, and tips on getting through this challenging time. Please feel free to contact us if there is something you think should be included or if you have an issue that your business would like help with. We are here for you.
Week of March 27, 2020
Government Announcements / Policies / Funding
- Temporary Wage Subsidy Program - Federal
This morning (March 27), the Prime Minister announced that this program will be increased from 10% to 75% and backdated to March 15. Further details on the rollout will be provided Monday.
- Government Guaranteed Loans - Federal
Qualifying businesses will have access to $40,000 of government guaranteed loans, interest-free for the first year. If conditions are met, the first $10,000 will be forgiven. Referred to as “a bridge to better times”. More info on Monday.
- GST & HST payments delayed until June - Federal
This will assist businesses with cash flow challenges. The government says these measures will best position small and medium-sized businesses to weather the pandemic and prepare for Canada’s economic recovery. Details on Monday.
- CRA to defer tax payments until August 31, 2020 - Federal
To help businesses with cash flow.
- New Business Credit Availability Program (BCAP) - Federal
More than $10 billion will be available to Canadian businesses for financing and credit insurance solutions through Export Development Canada (EDC) and the Business Development Bank of Canada (BDC).
- New Job-Protected Leaves for Workers - Provincial
- The Canada Emergency Response Benefit (CERB) - Federal
- Increasing the Canada Child Benefit - Federal
- Special Goods and Services Tax credit payment - Federal
- Extra time to file income tax returns - Federal
- Mortgage support - Federal
- Apply for Employment Insurance - Federal
Support for people who are sick, quarantined, or in direct self-isolation
- The Canada Emergency Response Benefit (CERB)
- Improved access to Employment Insurance sickness benefits
- Public Health Alert - HealthLink BC
- Local Situation - Vancouver Coastal Health
- Global Situation - World Health Organization
- BC Centre for Disease Control: www.bccdc.ca
- General Info: 1-888-COVID19
Data Collection / Surveys
Both the federal and provincial governments have contacted DigiBC and asked us to collect data on the impact the COVID-19 crisis is having on our sectors. This information is going to be very important as the government introduces rebuild strategies post-crisis.
DigiBC will be in contact with Interactive Digital Media (IDM) companies to share our tracking tool and to ensure wide representation in data gathering. Whether you are a member or not, we invite you to participate for the benefit of our sector. More on this early next week.
Usual Business In Unusual Times
- Our newly unveiled DigiBC 2020 Sizzle Reel showcases some spectacular content that is made right here in BC.
- DigiMusic 2020 will launch next week. Rather than having the focus be an in-school activity, we have repurposed the program so it can be done through home learning.
- When working in schools throughout the province, we often get asked if it's possible to arrange a tour of an animation studio. Together, with member company Atomic Cartoons, we created this virtual animation studio tour just before everyone transitioned to WFH. Enjoy!
- The 2020 New Ventures Competition, presented by Innovate BC, is officially underway. Applications are open for early-stage tech ventures who are looking to establish themselves as one of BC's fastest growing startups.
Next Week: Signal Boosting
We know that some studios have not been as negatively impacted by this crisis as others. A number of studios are finding ways to #GiveBack. Next week we will be highlighting these, so send us your #GiveBack strategy (email firstname.lastname@example.org) and we’ll be sure to signal boost it! You can also join our mailing list to stay up-to-date on news related to the creative tech industry in BC.
Wishing you and yours good health,
~ The DigiBC Team