Ontario invests in financial advice and training for small businesses and entreprenuers

By Lindsay Advocate

Small business - open sign

The Ontario government is investing over $2 million through the Ontario Together Fund to provide small businesses with free, tailored financial advice and online training to help them make informed financial decisions and navigate the unprecedented economic circumstances brought on by the COVID-19 pandemic.  

“Small businesses are key members of our local communities and they need our support now more than ever. This additional funding will certainly help support business owners to learn, adapt, and recover from financial losses endured as a result of COVID-19,” said Laurie Scott, MPP for Haliburton-Kawartha Lakes-Brock. 

“It’s been a tough year for us all, but it’s been especially tough for our small businesses and entrepreneurs,” said Andy Letham, Mayor of Kawartha Lakes. “The Kawartha Lakes Small Business & Entrepreneurship Centre supports hundreds of entrepreneurs and small business start-ups every year through consultation and training and I’m pleased it’s receiving this funding to expand support for our business owners when they need it most. Kawartha Lakes wouldn’t be the same without our small businesses and we need to do  everything we can to support them during this time.” 

Ontario is providing $2,040,000 to support Ontario’s 47 Small Business Enterprise Centres (SBEC) to create a new Small Business COVID-19 Recovery Network. This network seeks to enhance the capacity of all SBECs across the province to expand their services, supporting businesses across the province.  

The Kawartha Lakes Small Business & Entrepreneurship Centre (KLSBEC) can be found at 180 Kent St West in Lindsay.

The government is also providing $131,000 for Chartered Professional Accountants of Canada to develop and deliver a four-part COVID-19-specific financial literacy tool kit for small businesses.

An additional $51,000 is also being provided for Financial Advisors Association of  Canada, a non-profit association of financial advisors, to provide pro-bono professional financial advice for small companies through its online platform, Advocis Connect.  

The Ontario government also launched applications for eligible businesses to apply for the Main Street Relief Grant and temporary property tax and energy cost rebates through a single, online application portal. Many businesses should expect to receive their grants or rebate payments  within a few weeks of finalizing and submitting their completed application. 

Businesses and individuals looking to help in the fight against COVID-19 can submit their proposals through the Ontario Together web portal

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