Local Business Support Program Opens in Early May
April 13, 2021
Local businesses impacted by COVID restrictions will be able to make use of a new support set up by the Town of Peace River, Community Futures, and the Peace River and District Chamber of Commerce.
Funded by the Town of Peace River with support from Community Futures, the Local Business Support Program will be administered by Community Futures and the Peace River and District Chamber of Commerce. Our goal is to support local businesses that have been negatively impacted by COVID restrictions, to promote business viability, and assist our community through recovery from the impacts of the pandemic. The program will offer a variety of supports, such as individualized coaching, assessment, planning, and financial support, depending on the specific needs of the business.
The Local Business Recovery Program is divided into three phases with Phase One set to open for applications in early May 2021 beginning at 8 am. More details on the application process will be released closer to the start of the program.
To be successful in an application a business must meet the following eligibility requirements:
- The business was established prior to March 1, 2020.
- The business was adversely impacted by the COVID-19 pandemic.
- The business was financially viable and not experiencing financial insolvency pressures prior to March 1, 2020.
- The business must have a valid Town of Peace River business license or Peace River & District Chamber of Commerce membership.
- The business must be a full-time registered business, including Self-Employed, and/or, if a home-based business or owner/operator, must have operated the business full-time as a primary source of income.
Applications will be reviewed by a Community Futures Project Coordinator who will follow up with the successful applicants and guide them through the phases outlined below.
Advisers will work with the successful applicants to complete an assessment to help determine the best types of supports for the impacted business. The adviser will help ensure the successful applicant has access to all relevant Federal and Provincial supports and will provide additional support such as coaching from experts in business planning, human resources, marketing, and bookkeeping.
Businesses who complete Phase One may be eligible for Phase Two depending on the needs identified in Phase One. This phase will focus on businesses that need to make major changes in order to remain viable with supports such as additional coaching. An example of a major change could include shifting a business’ primary delivery model, or other similar substantial changes.
If required, a third phase may be approved by Town Council at a later date.
For questions please contact Randy Hodgkinson at Community Futures: [email protected]