January 11, 2024
CEBA Loan Repayment — One Week Away
With one week remaining before the interest-free forgivable portion of the Canada Emergency Business Account (CEBA) loan ends on January 18th, 2024, it is essential that members have made the decision that works best for them and their business priorities before the deadline. When it was clear that the federal government was unlikely to provide a further extension to the current deadline, the Canadian Franchise Association ensured that its members had access to the necessary resources they needed to navigate the upcoming change.
For those members who have yet to make a decision regarding the repayment of their CEBA loans, please find the Learn and Grow Webinar: Navigating CEBA Loan Repayment and a worksheet created by RBC’s Paul daSilva for your reference.
Please note that this spreadsheet is only for informational purposes and does not constitute legal or financial advice. Each franchisor and franchisee should consult their legal and business advisors to determine how this information works within the context of your franchise system and your franchise agreement.
Revised requirements to better protect international students
The Honourable Marc Miller, Minister of Immigration, Refugees and Citizenship, announced today that starting January 1, 2024, the cost-of-living financial requirement for study permit applicants will be raised so that international students are financially prepared for life in Canada.
EPR for PPP Producer Update
As you may be aware, the deadline to register for Nova Scotia’s Extended Producer Responsibility Program for Packaging, Paper and Packaging-Like Products (EPR for PPP) was January 1, 2024. While that date has passed, the portal is still open for producers to register.
More softening ahead for jobs market, but wage hikes, hybrid work to have staying power
The jobs market has come off the boil, having steadily weakened throughout 2023 as high interest rates worked their way through the economy and dampened demand.
RELEVANT NEWS
March rate cut bets at risk: What economists say about Canada’s job numbers
Jobs numbers for December offered a “mixed” picture that could convince the Bank of Canada to be patient when it comes to interest rate cuts, some economists say.
Opinion: Within the contradictory December jobs report, the downward trends in labour pressures remain
For many economists, the employment rate is a much more valuable indicator of labour market strength than the more familiar unemployment rate; it points to the share of the entire pool of labour that is being used.
Most Canadians support bringing in temporary foreign workers to fill jobs, says poll
The Nanos poll found that 79 per cent of Canadians support employers bringing temporary foreign workers into Canada to help fill jobs they can’t find Canadians to do. Backing is strongest in the Atlantic region and Quebec, with greatest opposition in the Prairies and Ontario.
Canada’s productivity has been declining. Why that’s a problem for the economy
Economists who spoke with Global News say this metric is critical for improving Canadian quality of life, and recent declines will be particularly worrying to the Bank of Canada as it gauges where to set its benchmark interest rate next.
Canada’s job growth stalls in December, while wages accelerate
The country added just 100 net new jobs in December, after an increase of 25,000 in November and 18,000 in October, Statistics Canada said Friday. Bay Street analysts were expecting an increase of 13,500 jobs last month.
Labour Force Survey, December 2023
Employment was virtually unchanged (+0.0%) in December, and the unemployment rate held steady at 5.8%. The employment rate fell 0.2 percentage points to 61.6%, as the population aged 15 and older grew by 74,000 (+0.2%).
CFA’S ADVOCACY PRIORITIES FOR 2022-2023
- Access to Labour for Franchisors and Franchisees
- Access to Capital
- Common Employer: Adopt the 4 Factor Test
- Burdens of Small Business:
- Ensuring a Fair Playing Field for Franchised Business under Environmental Legislation
- Educating Public Officials About Franchising
Ensuring a Fair Playing Field for Franchised Business under Environmental Legislation
The CFA recognizes the changing needs of the environment and applauds government measures to control climate change and other harmful man-made affects. However, we remind the government to always consider the implications of their actions, including the costs and operational challenges associated with these goals.
CFA ADVOCACY ACCOMPLISHMENTS
The CFA is dedicated to guaranteeing that policymakers nationwide recognize the significant role played by the franchise business model in Canada’s economy and its impact on the livelihoods of nearly two million Canadians employed in franchising.
Learn more about our recent advocacy accomplishments here:
2023 | 2022 | 2021 | 2020 | 2019
THE CFA NEEDS YOUR SUPPORT!
Be active, be engaged, and get involved with the CFA’s advocacy work to help protect the franchise business model.
We need your donation to help support the work we’re doing to protect, promote, and advance the franchise industry in Canada. By supporting CFA’s advocacy with a financial donation, you can help augment and strengthen our advocacy initiatives. Learn more about our initiatives here.
Thank You to Our Advocacy Champions
