COVID-19: $205,000 in support for Saguenay entrepreneurial ecosystem

Thanks to this support from CED, Promotion Saguenay has been able to offer support services to Saguenay businesses and NPOs affected by the economic impacts of COVID-19. These businesses and organizations have benefitted from the expertise and mentoring of specialized resources to stabilize their situation and be in a better position for the economic recovery.

The COVID-19 pandemic has hit Quebec entrepreneurs hard. Business and organization leaders must show resilience and creativity to adapt their operations to health regulations and physical distancing requirements.

The city of Saguenay has not escaped the crisis. The vitality of large centres such as Saguenay must be preserved. On the ground, the many calls for help in the face of the critical situation being experienced by shopkeepers and businesses have been heard.

That is why Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Honourable Mélanie Joly, Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec), is today announcing a non-repayable contribution of $205,000 for Promotion Saguenay. This support has already enabled several SMEs and entrepreneurs to receive mentoring through the organization.

Thanks to this support from CED, Promotion Saguenay has been able to offer support services to Saguenay businesses and NPOs affected by the economic impacts of COVID-19. These businesses and organizations have benefitted from the expertise and mentoring of specialized resources to stabilize their situation and be in a better position for the economic recovery.

The Government of Canada salutes the resilience these businesses have shown since the crisis began. Local businesses supported by Promotion Saguenay will play a key role in kickstarting the economy; they create quality jobs while enhancing the regional economic fabric.

To ensure sustainable economic development for communities, as the second wave hits, we must support businesses across Quebec. The regions count thousands of shopkeepers and entrepreneurs with innovative ideas who contribute to the vitality and dynamism of their communities. The Government of Canada will continue to work with them to rebuild a stronger economy.

"The Government of Canada wants to help small businesses across Quebec equip themselves to be able to rebound vigorously after the economic crisis. Thanks to this financial assistance, Promotion Saguenay will be able to maintain its support for local entrepreneurs and shopkeepers. They create and maintain quality jobs, and the government is committed to accompanying them. We were here during the first wave of the pandemic with concrete measures, and we are still here to support them as the health situation evolves."

Élisabeth Brière, Member of Parliament for Sherbrooke and Parliamentary Secretary to the Minister of Economic Development and Official Languages (Economic Development Agency of Canada for the Regions of Quebec)

"Small and medium-sized businesses across Quebec have been hit hard by the impacts of COVID-19. That is why the Regional Relief and Recovery Fund was put into place to help them. As the second wave hits us head on, we have clearly heard the message from entrepreneurs and workers for more assistance. We are working with key collaborators such as Promotion Saguenay to support good local jobs and ensure our economy comes back in full force."

The Honourable Mélanie Joly, Member of Parliament for Ahuntsic-Cartierville, Minister of Economic Development and Official Languages and Minister responsible for CED

"Thanks to CED's financial support, Promotion Saguenay is able to enhance the technical services it offers to businesses. Over 120 businesses have already benefitted from this assistance to better equip themselves and prepare for the recovery."

Josée Néron, Mayor of Saguenay and President of Promotion Saguenay

• Today's announcement is being made on behalf of the Honourable Mélanie Joly, Minister of Economic Development and Official Languages and minister responsible for the six regional development agencies (RDAs), including CED.

• This contribution has been granted through the Regional Relief and Recovery Fund (RRRF). With a total budget of over $1.5 billion, the RRRF is providing over $280 million to support Quebec businesses and NPOs. Under this initiative, emergency funds to cover working capital needs as well as technical assistance are being offered to Quebec businesses and NPOs.

• CED is a key federal partner in Quebec's regional economic development. With its 12 regional business offices, CED is accompanying businesses, supporting organizations and all regions across Quebec into tomorrow's economy.