SMEDCO COVID Business Fund
In partnership with Indigenous Services Canada, SMEDCO is delivering a COVID-19 impact fund for Métis communities and microbusinesses. The SMEDCO COVID Fund seeks to provide resources for businesses that did not qualify for the COVID-19 business relief programs that were initiated earlier in the pandemic. The Fund will provide Métis community owned businesses and microbusinesses in Saskatchewan that have experienced reduced revenues as a result of the COVID-19 pandemic with two streams of COVID-19 supports. Stream one focuses on providing access to business assessment, advisory, and recovery supports from professionals and stream two focuses on providing non-repayable contributions to support ongoing operations.
Microbusiness COVID Fund
Métis micro-businesses such as home-based businesses, sole proprietorships, small family-based businesses, fishermen, harvesters are major contributors to our economy. The COVID-19 pandemic has had severe impacts on the Métis entrepreneurs and families that rely on the income generated from those businesses. Stream One of the SMEDCO Microbusiness COVID Fund provides Métis microbusinesses established prior to March 2020 with access to skilled professionals that can provide expert advice and services to support business recovery.
Stream Two of the SMEDCO Microbusiness COVID Fund provides Métis microbusinesses that have seen revenues decrease as a result of COVID-19 with access to non-repayable contributions to support ongoing operations. Contributions received through this program are intended to fund reasonable operating expenses and help to ensure that microbusinesses are able to sustain operations during the economic recovery phase.
Microbusiness Fund Consulting Services
The consulting services that can be accessed through SMEDCO’s Microbusiness COVID Fund include:
Business Adaption Advice – To provide insight on how existing business processes/models can be adapted to respond to the changing business environment.
Business Planning – To ensure that business plans are adapted to reflect changes in the business model and business environment.
Financial Projection Updates – To establish a clear financial picture of the impact of COVID-19 and planned business adaption activities on community owned businesses and economic development corporations.
Who Can Apply?
If you answer yes to the following questions, the SMEDCO COVID Microbusiness Fund may be for you:
- Are you a Métis entrepreneur operating in Saskatchewan?
- Has the COVID-19 pandemic affected the way you do business?
- Have you been unable to access other COVID-19 business relief programs such as the:
- Business Credit Availability Program (BCAP)
- Canada Emergency Business Account (CEBA)
- Canada Emergency Wage Subsidy (CEWS)
- Canada Emergency Commercial Rent Assistance (CECRA)
- Regional Relief and Recovery Fund (RRRF)
- Large Employer Emergency Financing Facility (LEEFF)
- SMEDCO’s Metis Emergency Capital Assistance Program (MECAP)
- Are you an individual or sole proprietorship?
- Was your business in operation prior to March 2020?
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