Save Small Businesses - Now

0 have signed. Let’s get to 2,500!


Your local cafe, fitness studio, salon or bar are experiencing an immediate cash flow crisis and will be on the brink of bankruptcy in one month.

Experts say that government support is all welcome and important, but won't be enough to save many of the companies hit hard by the coronavirus pandemic. (CBC News)

The main issue facing small businesses is commercial rent.

With commercial rent payments costing tens of thousands of dollars every month, many businesses can only last one or two months on their personal savings.

Low interest loans from the government are not a realistic alternative! Businesses shouldn’t have to mortgage their future to pay for our collective response to this virus.

Since each month represents tens of thousands of dollars in debt, and many predictions suggest 8 months of “aggressive social distancing” [National Post], the government is forcing business owners to decide how long they can last. In other words, at what point should they decide to declare bankruptcy because it will take too long (10, 20 or more years) to repay the quickly mounting debt?

Trudeau:

  1. Waive rent for businesses forced to close their doors - (mandate the first $10,000 of commercial rent is waived for 3 months)
  2. Defer principal payments on debt and waive interest payments on debt
  3. Increase the wage subsidy from 10% to 55% (so small businesses have staff when they are ready to restart our economy)

Without waiving interest payments, banks are “going to make more money because they've just loaned you more," [Peter Gorham CBC News].

To offset losses to landlords, delay mortgage payments, waive interest payments and waive property taxes.

Do NOT leave this up to the kindness of landlords. The “Landlord association agrees government needs to step in” (CBC News)

We must “make sure that the rescue package for the economy is a rescue for Main Street, not just for Wall Street” (Peter Hummelgaard, Employment Minister of Denmark The Atlantic)