DigiBC COVID-19 Weekly Update

DigiBC COVID-19 Weekly Update
27 Mar 2020 by DigiBC

DigiBC recognizes that our members are having an array of business challenges during this crisis, ranging from a few issues to very significant business threats. As your trade association, we are working to ensure our industry, as diverse as it is, comes out of this in the most positive way possible. Our weekly updates will have pertinent information on government policies, industry responses, and tips on getting through this challenging time. Please feel free to contact us if there is something you think should be included or if there's an issue that your business would like help with. We are here for you! Please note, the info from each of our weekly updates gets consolidated into our COVID-19 Member Resources.


Week of March 27, 2020

Government Announcements / Policies / Funding


For Businesses:

  • Temporary Wage Subsidy Program - Federal
    This morning (March 27), the Prime Minister announced that this program will be increased from 10% to 75% and backdated to March 15. Further details on the rollout will be provided Monday.
     
  • Government Guaranteed Loans - Federal
    Qualifying businesses will have access to $40,000 of government guaranteed loans, interest-free for the first year. If conditions are met, the first $10,000 will be forgiven. Referred to as “a bridge to better times”. More info on Monday.
     
  • GST & HST payments delayed until June - Federal
    This will assist businesses with cash flow challenges. The government says these measures will best position small and medium-sized businesses to weather the pandemic and prepare for Canada’s economic recovery. Details on Monday.
     
  • CRA to defer tax payments until August 31, 2020 - Federal
    To help businesses with cash flow.
     
  • New Business Credit Availability Program (BCAP) - Federal
    More than $10 billion will be available to Canadian businesses for financing and credit insurance solutions through Export Development Canada (EDC) and the Business Development Bank of Canada (BDC).


For Individuals:

Support for people who are sick, quarantined, or in direct self-isolation


COVID-19 Information:


Data Collection / Surveys

Both the federal and provincial governments have contacted DigiBC and asked us to collect data on the impact the COVID-19 crisis is having on our sectors. This information is going to be very important as the government introduces rebuild strategies post-crisis.

Animation & VFX: Creative BC is tracking data here.
Video Games / IDM: CMF has funded this national survey (closes March 31)

DigiBC will be in contact with Interactive Digital Media (IDM) companies to share our tracking tool and to ensure wide representation in data gathering. Whether you are a member or not, we invite you to participate for the benefit of our sector. More on this early next week.
 

Usual Business in Unusual Times

  • Our newly unveiled DigiBC 2020 Sizzle Reel showcases some spectacular content that is made right here in BC.
     
  • DigiMusic 2020 will launch next week. Rather than having the focus be an in-school activity, we have repurposed the program so it can be done through home learning.
     
  • When working in schools throughout the province, we often get asked if it's possible to arrange a tour of an animation studio. Together, with member company Atomic Cartoons, we created this virtual animation studio tour just before everyone transitioned to WFH. Enjoy!
     
  • The 2020 New Ventures Competition, presented by Innovate BC, is officially underway. Applications are open for early-stage tech ventures who are looking to establish themselves as one of BC's fastest growing startups.
     

Next Week: Signal Boosting

We know that some studios have not been as negatively impacted by this crisis as others. A number of studios are finding ways to #GiveBack. Next week we will be highlighting these, so send us your #GiveBack strategy and we’ll be sure to signal boost it!