Feds’ $1B regional relief fund seen as flawed

Program fills ‘some gaps,’ but may not be enough for smaller businesses, groups say

An almost $1-billion regional relief fund to help businesses is a welcome move by the federal government, but does not diminish the fact that the government’s larger aid programs need fixing immediately, business organizations say.

The government announced further details Wednesday of its previously announced $962-million regional relief and recovery fund, which includes $675 million to support regional economies and businesses and $287 million specifically for community futures development corporations, which target small businesses and rural communities. The government touted the fund Wednesday as a way for businesses to still access financial support if they haven’t been able to qualify for other government aid packages rolled out due to the COVID-19 pandemic, such as the 75 per cent wage subsidy and loans for small businesses. The government highlighted this is especially the case for businesses in rural and remote communities, and in certain sectors such as tourism.

Most of the funding will flow through the country’s six regional development