Create Small Business Recovery Program

AI summary

Petitioners ask Canada to establish a Small Business Recovery Program providing repayable, low‑interest financing to eligible small businesses via a government operating account limited to approved operating expenses, with payments, where appropriate, paid directly to creditors, and developed in consultation with them.

AI summaries describe petitioners’ requests and claims. Consult the official record for the full text.

Official petition

Petition to the Government of Canada Small businesses represent more than 98% of all businesses in Canada, employ millions of Canadians, generate billions of dollars in economic activity, and are the backbone of communities across the country; Many otherwise viable small businesses are facing temporary financial hardship due to inflation, high interest rates, rising commercial rents, increased operating costs, taxes, insurance, utilities, supplier costs, and reduced consumer spending; Many small businesses are unable to qualify for financing through the Business Development Bank of Canada (BDC) or traditional financial institutions because of strict lending criteria and declining revenue; and Helping viable small businesses remain open protects jobs, preserves government tax revenues, reduces insolvencies, strengthens local economies, and supports Canada's long-term economic growth. We, the undersigned, Citizens and residents of Canada, call upon the Government of Canada to 1. Establish a Canadian Small Business Recovery Program that provides eligible small businesses with repayable, low-interest financial assistance through a dedicated government-approved operating account. Funds shall be used only for approved operating expenses, including commercial rent, payroll, taxes, insurance, utilities, supplier payments, loan obligations, and other essential business expenses. Payments should, where appropriate, be made directly to landlords, government agencies, lenders, utility providers, insurers, and suppliers to ensure accountability and prevent misuse of public funds; and 2. To implement this program in consultation with Canada's small business community to protect jobs, maintain tax revenues, reduce business failures, strengthen local economies, and secure Canada's long-term economic prosperity. 1. Establish a Canadian Small Business Recovery Program that provides eligible small businesses with repayable, low-interest financial assistance through a dedicated government-approved operating account. Funds shall be used only for approved operating expenses, including commercial rent, payroll, taxes, insurance, utilities, supplier payments, loan obligations, and other essential business expenses. Payments should, where appropriate, be made directly to landlords, government agencies, lenders, utility providers, insurers, and suppliers to ensure accountability and prevent misuse of public funds; and 2. To implement this program in consultation with Canada's small business community to protect jobs, maintain tax revenues, reduce business failures, strengthen local economies, and secure Canada's long-term economic prosperity.

Government response

No government response is available yet.