The region’s business centre is one of 47 in the province to split over $2 million in provincial funding to help Ontario’s small business owners.
Minister of Job Creation, Economic Development and Trade, Vic Fedeli announced the money on Thursday which is part of an overall $2.2 million investment from the Ontario Together Fund.
“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 in a statement. “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.”
$2,040,000 will go towards the province’s small business enterprise centres (SEBCs), including The Business Centre for Nipissing and Parry Sound located in North Bay.
The goal is to better connect Ontario’s small business centres to create a network that will “enhance the capacity of all SBECs across the province to expand their services, supporting businesses across the province,” Fedeli’s office states.
In addition to the money for small business centres, Ontario is also spending $51,000 to financial advisors to provide free advice to business owners.
There will also be $131,000 spent on the province’s chartered professional accountants to assemble a “financial literacy tool kit” for small businesses to access. The tool kit will include podcasts, webinars and online booklets that focus on things like COVID-19 recovery, managing risks and tax information.
The Ontario Together Fund is a $50 million pool to help businesses in Ontario retool for the COVID-19 pandemic.