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OCOBIA Requests to NCR Caucus – Pre-budget 2023 meeting

OCOBIA Executive Director, Michelle Groulx, attended the National Capital Region Liberal Caucus meeting to share 3 pre-budget requests for 2023.

OCOBIA était très heureuse du soutien apporté par le gouvernement aux petites entreprises en ces temps sans précédent.

There is still work to be done.

OCOBIA has 3 requests to support our city’s economic recovery and our business community’s rebound.

  1. Forgive CEBA loan repayments
  2. Take affirmative action in transforming Ottawa’s downtown
  3. Continue excellent funding programs for small businesses and main streets

1 – Forgive CEBA (Canada Emergency Business Account) loan repayments for small businesses

In 2020, Businesses applied for CEBA loans as a means to keep their business and livelihood afloat. Citizens applied for CERB payments to keep themselves and their families afloat.

Businesses have to pay back CEBA loans – with a current incentive of a 33% loan forgiveness if paid by December 31 2023.

À ce jour, les petites entreprises canadiennes ne se sont pas encore totalement récupérés.

CFIB reported 56% of small businesses were still making less than normal revenues, 64% were still holding pandemic debt.

In fact, the highest number of Canadian insolvencies since March 2020 was reported last month. In Ontario, insolvencies increased by 80% between 2021-2022 for individual small businesses

Small businesses are moving forward – but with heavy weights of debt incurred by no cause of their own. This is not a BAIL OUT request. A bail out implies that the business had anything to do with the cause for debt. The only cause was to stay afloat while following public health orders.
The same public health orders resulted in many large corporations profiting greater than ever before.

2 – It’s time to diversify downtown Ottawa.

As the largest tenant throughout downtown Ottawa, the Government must take affirmative action, and with urgency, to change the landscape and economy of downtown. This is not an HR intervention or request to return to work. We are requesting that the occupancy downtown is diversified to support our economy.

Many cities across Canada and North America are transforming downtowns to have people downtown – 24/7. Diversifying downtown with a mix of business, office, residences, and services will result in social improvements, and balance of economic activity throughout our city.

3 – Continue programs to support main streets and small businesses

Ottawa has benefited from Federal programs to revitalize our main streets and businesses. My Main Street, in particular, supported events and programs in BIAs that helped revitalize neighbourhoods.

Also through My Main Street, 50 small businesses in Ottawa received $10,000 non-repayable funds to make capital improvements based on individual and neighbourhood data provided.

We hope to see this program expand in our city for additional BIAs and small businesses in 2023.

Merci.

About OCOBIA

Ottawa Coalition of Business Improvement Areas is an advocate and influencer on issues and policies affecting the economic development and well-being of Ottawa BIAs – and the businesses they represent.

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