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The Saskatchewan NDP is expecting more from the province to help self-employed people and small businesses navigate the COVID-19 pandemic.
On Saturday, finance critic Trent Wotherspoon called on the province to “rapidly expand support” for small businesses and self-employed people affected by COVID-19.
“Small businesses are the heart of our communities and key drivers of our economy. These local leaders are faced with incredible hardship with this unprecedented situation,” Wotherspoon said in an NDP media release.
“We need to urgently act to support entrepreneurs and local businesses to ensure that they and their employees can get through this terribly difficult time and so that they are in a position to rebuild when we come through this, not permanently shuttered.”
Wotherspoon is hoping the province implements the introduction of grants and interest-free loans for small businesses to help offset plummeting revenues, changes to business regulations to allow business lease and mortgage payments to be deferred for up to six months and allowing deferred payments on equipment, vehicle rentals and other term contracts.
Wotherspoon is also hoping Friday’s financial plan announced by the province will be expanded to include performers, artists, photographers and musicians, and not just self-employed people excluded by the federal government’s coverage.
Nicole and Nicolette Hunter, owners of Nico Lady + Baby in Regina, have been put under financial stress in the wake of COVID-19 spreading across the province. They’re hoping for some forgiveness when it comes to lease and mortgage obligations.
“As business owners we are being asked by our landlords to go on as ‘business as usual’ when it’s anything but business as usual,” Nicolette said.
Saturday’s plea for expanding assistance to small businesses and self-employed people came after the province unveiled a financial assistance package on Friday.
Premier Scott Moe announced a financial support plan for employers and employees impacted by COVID-19, including a self-isolation support program, a PST remittance deferral and audit suspension and the formation of a business response team.
Through the Ministry of Finance, the support program will provide $450 per week, for a maximum of two weeks or $900. The self-isolation support program is “targeted at Saskatchewan residents forced to self-isolate that are not covered by recent federally announced employment insurance programs and other supports,” a provincial news release said.
“During this time of great uncertainty, it is of the utmost importance that Saskatchewan people know their government is here to provide support,” Moe said in a government release.
“This plan supports businesses and employees. Most importantly, it supports the opportunity to come back to work when we emerge from the COVID-19 crisis.”
The program is anticipated to cost $10 million.
Financial penalties and interest charges from PST remittance is also being forgiven by the province. The province is instituting a three-month PST remittance deferral and audit suspension effective immediately.
The province is estimating a deferral of roughly $750 million in PST collections over the three-month period.
Interest on late bill payments for customers of crown corporations in the province for up to six months is also in effect.
Moe also announced a business response team is being established to help small businesses navigate information and receive timely updates via a webpage. Once the team is established, information will be communicated to the public and to local chambers of commerce to pass information to its chamber membership.
While Wotherspoon was appreciative of the province’s financial assistance plan, he felt more could be done for the entrepreneurs in Saskatchewan.
“That’s why we are calling for a plan to reduce our overhead, including payments to landlords, so that when we all come out of the thick of this, businesses are able to pick up where they left off without further harming Saskatchewan’s economy,” he said.