Minister Ng announces winner at Greater Vancouver Board of Trade's inaugural Business Reinvention Awards

OTTAWA, ON, Feb. 26, 2021 /CNW/ - Today, the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade, attended a virtual ceremony for the Greater Vancouver Board of Trade's inaugural Business Reinvention Awards, where she presented the day's biggest award and namesake, the Reinvention Award, to Novo Textiles.

Run by the Greater Vancouver Board of Trade's Scale-up Centre for SMEs, the Reinvention Awards recognize and celebrate innovative businesses and organizations that have reinvented, adapted and shown exceptional resilience in the face of challenge and barriers, with this year's awards acknowledging the incredible difficulty of 2020.

Awards were also given for excellence in collaboration, workplace health, environmental leadership, domestic growth and export planning to businesses in the Greater Vancouver area and region.

The World Trade Centre Vancouver presented the Trade Accelerator Program (TAP) Export Plan of the Year award. TAP provides companies with the knowledge, resources and coaching they need to develop and execute successful export plans and grow internationally.

The Government of Canada continues to support small and local businesses through programs such as the newly expanded Canada Emergency Business Account, the new Canada Emergency Rent Subsidy, the extended Canada Emergency Wage Subsidy and the new Highly Affected Sectors Credit Availability Program so they are able to get through?and recover from?this pandemic and build success for months and years to come.

Quotes                                    

"Celebrating the innovation and resilience of our businesses is more important than ever, recognizing the historically challenging circumstances presented by the COVID-19 pandemic. I sincerely congratulate all the winners of the Greater Vancouver Board of Trade's Business Reinvention Awards and look forward to following their future successes. It's thanks to this kind of business excellence?in B.C. and across Canada?that we will build back a better future for us all."
? The Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade

Quick facts

• The Government of Canada is committed to bolstering export opportunities for Canadian small and medium-sized enterprises (SME) and diversifying Canada's overseas trade.
• $1.1 billion is being invested over six years through the Export Diversification Strategy to help Canadian businesses access new markets, enhance trade and increase Canada's overseas exports by 50%.
• $10 million is being invested over three years through the Mobilizing SMEs to Export initiative to support export readiness and export capacity-building programs such as TAP, which is implemented by regional boards of trade and world trade centres across the country.
• More than 500 SMEs across the country have benefited from the Mobilizing SMEs to Export initiative.
• To support Canadians during the COVID-19 pandemic, the Government of Canada introduced the largest relief package in our country's history, which includes the following major programs for business owners and their employees:
• The Canada Emergency Wage Subsidy (CEWS) helps businesses by covering up to 75% of payroll. It has been extended until June 2021.
• The expanded Canada Emergency Business Account (CEBA) provides interest-free loans of up to $60,000 with $20,000 forgivable if repaid by December 31, 2022. 
• The Canada Emergency Rent Subsidy (CERS), available directly to business owners, covers up to 65% of rent. It has been extended until June 2021. Businesses will receive new lockdown support of an additional 25% where a shutdown is required by a public health order. This means they can have up to 90% of their rent covered.
• The Highly Affected Sectors Credit Availability Program (HASCAP) offers loans at a fixed interest rate of 4% across participating financial institutions, for terms of up to 10 years, and 100% guaranteed by the Government of Canada. Businesses will be able to apply through to June 30, 2021.
• The $2-billion Regional Relief and Recovery Fund (RRRF) supports small businesses across Canada that have been unable to access existing relief measures. It is delivered through Canada's regional development agencies.

Stay connected

Follow @CanadaBusiness on social media for business-related news: Twitter, Facebook

SOURCE Innovation, Science and Economic Development Canada