Québec, Quebec, October 15, 2020 – Canada Economic Development for Quebec Regions (CED)
The COVID-19 pandemic has hit small and medium-sized businesses hard, and business owners must show resilience and creativity in adapting their operations to health regulations and physical distancing requirements.
The Capitale-Nationale region has not escaped the crisis. The vitality of large centres such as Québec must be preserved. On the ground, the many calls for help with the critical situation facing store owners and businesses have been heard.
That is why the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and Minister responsible for CED, is today announcing financial assistance of $820,000 for Québec International, a non-profit organization (NPO) that, every year since 2003, has mentored several hundred businesses located within the Capitale-Nationale region.
This non-repayable contribution has been granted through the Government of Canada’s Regional Relief and Recovery Fund (RRRF). With a total budget of close to $1.5 billion, the RRRF is providing $280 million to support Quebec businesses and NPOs. Through this initiative, emergency funds to cover the need for working capital and technical assistance are being offered to Quebec businesses and NPOs.
Québec International supporting regional businesses
Québec International’s mission is to contribute to the economic development and international profile of the Québec region. As a regional export promotion organization (ORPEX), Québec International fosters business growth, supports dynamic sectors and attracts talent and investments to the region. In particular, the organization provides businesses with support for innovation and mentoring around international marketing and develops the power to attract foreign investors to the region.
Through this support from CED, businesses and NPOs from Québec, L’Ancienne-Lorette and Wendake will receive technical assistance through to March 31, 2021. These specialized resources will help these businesses and organizations affected by the economic impacts of COVID-19 to structure their operations, manage their cashflow and develop new business opportunities to kickstart their activities. This mentoring will enable them to stabilize their situation, thereby putting them in a better position for the economic recovery.
Canada’s COVID-19 Economic Response Plan has enabled millions of jobs to be protected, families to receive emergency assistance and businesses to stay afloat throughout the pandemic. As we pursue an economic recovery in complete safety, the Government of Canada will always place Canadians at the forefront of its concerns, while working to create good jobs and rebuild a resilient, stronger and more just economy for all.