Vic Fedeli, MPP for Nipissing announced Thursday that the Ontario government is spending over $2.2 million through the Ontario Together Fund to provide small businesses with free, tailored financial advice and online training to help them make informed financial decisions and navigate the unprecedented economic circumstances brought on by the COVID-19 pandemic.
“Many small businesses across the province are being hit hard by COVID-19, and our government is doing everything it can to help them get back on their feet and recover, not just today, but every step of the way,” said Fedeli. “By providing these entrepreneurs with financial advice and training we can arm them with the information they need to remain viable and contribute to Ontario’s economic recovery.” Fedeli added, "You can call the Small Business Enterprise Centre in North Bay at 705-474-0400 x2302"
Ontario is providing $2,040,000 to support Ontario’s 47 Small Business Enterprise Centres (SBEC) led by the Business Advisory Centre Durham to create a new Small Business COVID-19 Recovery Network. This network will enhance the capacity of all SBECs across the province to expand their services, supporting businesses across the province.
The project will also build one central portal where businesses can access digital tools and training, connect with mentors and industry experts, and get information on government programs to help them navigate COVID-19 and beyond. Through this network, up to 75,000 small businesses in Ontario can be reached.
The Business Centre - Nipissing Parry Sound Inc. is a Small Business Enterprise Centre (SBEC) located in Nipissing and can be found at 200 McIntyre Street East.
The government is also providing $131,000 for Chartered Professional Accountants of Canada to develop and deliver a four-part COVID-19-specific financial literacy tool kit for small businesses. Key components of the project include podcasts, webinars and online booklets that will focus on pandemic recovery, cash management, managing risks, and information on small business tax.
Ontario is also providing $51,000 for Financial Advisors Association of Canada, a non-profit association of financial advisors, to provide pro-bono professional financial advice for small companies through its online platform, Advocis Connect. With the government’s support, the association will connect small businesses with financial advisors for free advice on the current financial state of their business, how to pivot the business to manage the current economic emergency, and guidance for applying to federal and provincial government support programs.