Destination Canada hosted a Visitor Economy webinar on March 20, 2020, sharing our approach amid the COVID-19 situation and providing information on available federal support initiatives. Representatives from Destination Canada, Business Development Bank of Canada, Parks Canada, Tourism Industry Association of Canada and Tourism HR Canada spoke.
For notes from the full webinar, please click here.
Please note the following clarification to a question to BDC during the Q&A session
Q: As a seasonal tourism operator, we don’t generate any revenues from November-May. The financial assistance programs currently being offered appear to require information on current losses due to COVID-19. How will companies like ours be able to obtain assistance for losses in the coming months?
A: BDC does serve seasonal businesses. We are used to these issues - so don’t hesitate to contact your financial institutions who will assess your situation. If you are already a BDC client, contact your account manager.
Seasonal businesses can apply for Business Credit Availability Program support by contacting their financial institutions for an assessment of their situation. Financial institutions will refer to EDC and BDC their existing clients whose needs extend beyond what is available through the private sector alone. Of note, businesses need to be financially viable entities prior to the impact of the coronavirus for this program.
And a reminder that there are programs being put in place to support cash flow so visit here to get the latest updates on support to Canadian businesses.
Additional resources from our partners:
- Tourism Industry Association of Canada: Regularly visit the TIAC website for updates and sign-up for their COVID-19 communications.
- Indigenous Tourism Association of Canada: Regular updates are posted on the ITAC website and there is a newsletter you can subscribe to on the same page.
- Tourism HR Canada: Read their recently published blog on COVID-19 here and check their website for more resources.
- Business Development Bank of Canada: Support for entrepreneurs impacted by the coronavirus COVID-19 can be found here. In addition, BDC is hosting a webinar on March 25th for businesses impacted by COVID-19, sign up here.
- Parks Canada: Information on Coronavirus (COVID-19) and your visit to a Parks Canada location can be found here.
Check our COVID-19 page regularly for up-to-date information.