Small businesses need access to financing in order to invest in people and innovation, and to have the space to operate and grow. Eligible businesses will receive micro-grants and access to zero-interest financing to help offset the costs of going digital-and be able to access support from digital trainers within a network of up to 28,000 well trained young Canadians. To fuel the recovery, jobs, and growth, the government is launching the Canada Digital Adoption Program, which will create thousands of jobs for young Canadians and help as many as 160,000 small and medium-sized businesses adopt new digital technologies. It will provide an additional incentive for employers who hire people traditionally underrepresented in the trades, including women, racialized Canadians, and persons with disabilities. The Apprenticeship Service would help 55,000 first-year apprentices in construction and manufacturing Red Seal trades connect with opportunities at small and medium-sized employers. Budget 2021 proposes to provide $470 million over three years, beginning in 2021-22, to Employment and Social Development Canada to establish a new Apprenticeship Service. The skilled trades are vital to our economy, and apprenticeships are the bridge that help skilled workers, especially young people starting their careers, connect with businesses and find well-paying jobs.
Creating New Opportunities for Skilled Tradespeople These proposed amendments are projected to increase annual financing by $560 million, supporting approximately 2,900 additional small businesses. To make sure small business and independent entrepreneurs can access the capital they need to recover, innovate, and grow in the long-term, Budget 2021 proposes to improve the Canada Small Business Financing Program. Enhancing the Canada Small Business Financing Program Budget 2021 proposes to extend the wage subsidy, the rent subsidy, and Lockdown Support until September 25, 2021. The Canada Emergency Wage Subsidy has helped more than 5.3 million Canadians keep their jobs, and the Canada Emergency Rent Subsidy and Lockdown Support have helped more than 154,000 organizations with rent, mortgage, and other expenses. Extension of Canada Emergency Wage Subsidy, the Canada Emergency Rent Subsidy and Lockdown Support Beyond June 2021 The proposed subsidy would offset a portion of the extra costs employers take on as they reopen, either by increasing wages or hours worked, or by hiring more staff. Helping Hard-hit Businesses Hire More Workersīudget 2021 proposes to introduce the new Canada Recovery Hiring Program for eligible employers that continue to experience qualifying declines in revenues relative to before the pandemic. Note: Last actual data point is March 2021. Sources: Statistics Canada Department of Finance Canada calculations. We will continue implementing our plan for a healthy environment and a healthy economy by creating jobs in the clean tech sector, and ensuring our kids and grandkids grow up in a country with clean air and clean water.įind out how Budget 2021 will help get us all through this pandemic, create jobs, and build a more resilient Canada.
The Government of Canada will continue to help businesses grow and innovate by creating incentives to hire workers, providing access to financing to scale-up businesses, and making it easier to adopt new technologies to reach more Canadians. The Government of Canada has a plan to create 1 million new jobs and drive economic growth.īudget 2021 supports Canadians by creating new opportunities in the trades and helping people develop the skills needed to succeed. Our plan will build a more resilient economy that benefits the middle class and everyone working hard to join it.īudget 2021 includes a jobs and growth plan to increase opportunities for women and young Canadians including investments in a Canada-wide Early Learning and Child Care system.
The Government of Canada is doing everything it can to finish the fight against COVID-19, and will continue to be there for those who need help. A Recovery Plan for Jobs, Growth, and Resilience - Budget 2021
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