Sask. gov’t extends financial assistance program for businesses

With job numbers continuing to drop in Saskatchewan, the provincial government is extending its aid package to small- and medium-sized businesses.

The government announced Friday it was extending the Saskatchewan Small Business Emergency Payment (SSBEP) program into May for businesses that have to stay closed or substantially limit their operations after May 19.

The $50-million program was unveiled April 9 on launched April 13.

“While the Re-Open Saskatchewan plan is now underway, we are still very much dealing with the global COVID-19 pandemic, so we need to be methodical in how we implement each phase of the plan in our province,” Trade and Export Development Minister Jeremy Harrison said in a media release.

“We want to be flexible and responsive with the program and make sure we provide timely support for businesses so they can utilize this funding where it will provide the most benefit for them.”

The extension of the program was announced the same day that Statistics Canada issued another labour force survey that didn’t paint a rosy picture.

Saskatchewan’s unemployment rate rose from 7.3 per cent in March to 11.3 per cent in April. The province lost 53,000 jobs between March and April.

That followed a March report that showed Saskatchewan had lost nearly 21,000 jobs in that month.

As for the SSBEP, businesses that qualified for the program initially won’t have to reapply; they’ll automatically receive a second payment after May 19.

Companies can receive a payment of 15 per cent of their sales revenue from April 2019 or February 2020, up to a maximum of $5,000. The businesses can use the funds for expenses such as rent.

The government said since the program’s inception, it has processed more than 4,700 applications and provided more than $15 million to businesses.