The Federal government is turning its attention to helping rural small and mid-sized businesses during the Covid-19 pandemic.
Prime Minister Justin Trudeau says today’s funding announcement will help businesses who are still falling through the cracks.
Specifically, it will help ensure that more businesses, especially those with a smaller amount of employees based in more rural parts of the country, or those who don’t have a relationship with a traditional financial institution, will get the financial support they need.
$962 million will now go to regional development agencies and the Community Futures Networks to help rural businesses.
In addition, $270 million will go to Futurepreneur to support innovators and early-stage development firms that don’t qualify for the wage subsidy.
Also, the Arts Culture and Sports Sector will get $500 million via Canadian Heritage to help artists and rising sports stars with salary support and access to financing.
We’re working day and night to make sure everyone gets through this challenging time. And today, I’m announcing new supports to make sure more people get the help they need. Watch live: https://t.co/DcPJV1bkW7
— Justin Trudeau (@JustinTrudeau) April 17, 2020
To watch today’s full Justin Trudeau address, see below: