Today the Saskatchewan NDP called on the provincial government to address an unprecedented cash-flow crunch facing Saskatchewan small businesses. The NDP called for emergency grants for small businesses, a moratorium on evictions and foreclosures, and measures to support deferral or forgiveness of payments on business leases, loans and contracts.
“Small businesses are crucial to our economic well-being, and right now, they need our support,” said NDP Finance Critic Trent Wotherspoon. “We’re calling on the province to step up with emergency aid for local businesses facing devastated cash flows.”
Specifically, Wotherspoon called for the government to immediately address the cash-flow crisis for Saskatchewan small businesses by:
- Providing grants to small businesses to address serious cash flow issues;
- Allowing payments on business leases, mortgages and other term contracts to be deferred for up to six months;
- Introducing temporary new protections for small businesses by putting a six-month moratorium on evictions, seizures and foreclosures on business leases, mortgages and other secured contracts.
Wotherspoon was joined on the line by Judith Veresuk, Executive Director of Regina Downtown Business Improvement District, and Leasa Gibbons, Executive Director of Regina’s Warehouse Business District. Both say that Saskatchewan small businesses are slipping through the cracks of the measures taken so far.
“From nightclubs to day spas, many small businesses in our districts have had to shut their doors,” said Veresuk. “And for the few that are still operating, curbside retail simply isn’t enough to pay the rent. While the federal and provincial programs that have been put in place have helped somewhat, many of these businesses have no money coming in and bills continuing to pile up.”
“The situation for many of our member businesses is critical,” said Gibbons. “We’re looking to the province to ensure that the small businesses that power our economy will still be here when this crisis has passed.”