The declarations of a public health emergency and provincial state of emergency this week due to COVID-19 came with restrictions on gatherings and business.
On March 17, bars, pubs and other businesses with liquor primary licences were ordered to close. Restaurants and cafes unable to keep people at a distance of at least one metre were ordered to shift to offering take-out and delivery only.
Public-facing business outside the food and beverage sector are also opting to close their doors on the Sunshine Coast or limit interactions. Businesses are moving online, allowing staff to work from home, changing how they operate, and in some cases, forming new partnerships.
In response to the sudden economic slowdown, both the Sunshine Coast Regional Economic Development Organization (SCREDO) and Community Futures Sunshine Coast met on March 17 to discuss preparations for providing local support.
Sunshine Coast Community Futures said it will be pausing payments and interest on current loans for the next three months. The organization offers financing assistance to small and medium-sized businesses.
“The team is reaching out to each of its 90 clients in an effort to support where it can financially, with coping and eventual recovery plans,” said executive director Janice Iverson in a March 18 statement to Coast Reporter. It will still be possible to apply for loans, but patience is requested, Iverson said. And while their office is closed, staff are working remotely and can be reached during business hours.
SCREDO, meanwhile, plans to help local businesses navigate the various economic measures imposed by the provincial and federal government in response to COVID-19, including those announced by Prime Minister Justin Trudeau on Wednesday.
In that March 18 announcement, he promised the federal government would deploy up to $82 billion in direct spending and deferred taxes to help Canadians and businesses.
The unprecedented financial-aid package will provide a wage subsidy for small businesses to help them keep staff on the payroll during the slowdown, and establish emergency benefits for people who don’t qualify for employment insurance, among other measures.
SCREDO will also be answering questions about Disaster Financial Assistance and other emergency responses. Coordination with the three Chambers of Commerce on the Sunshine Coast is also expected, with SCREDO to provide “capacity building tools” for businesses. That assistance will be open to non-members.
“We’re all in this together. It’s going to take a community effort to weather the immediate phase of the pandemic,” Stansfield said.
The organization is also staying in close contact with its provincial counterparts through the BC Economic Development Association and will be looking at developing a community response plan.
In the meantime, early results from a business survey launched this week by provincial economic development organizations found more than 86 per cent of businesses are feeling the impacts of COVID-19, many are experiencing a 60 per cent reduction in their revenue and the majority of them are laying off staff, said Stansfield. “But the reason that survey is important is it’s an opportunity to make sure we are collecting good information in the moment and being able to relay it to levels of government.”
As far as the Sunshine Coast tourism industry goes, Stansfield said it’s too early to tell, but “we’re encouraged that money will be coming.”
“I think this is really an unprecedented challenge,” said Stansfield. “In this moment, our Sunshine Coast business community is remarkably entrepreneurial, creative. They are responding in ways of their own accord that are humbling to watch.”
People seeking more information about how their businesses could be impacted by the economic measures can reach Stansfield at: [email protected]
– With files from the Canadian Press
