Report on Small Business Newsletter: Businesses permanently close rather than wait out pandemic shutdown

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Report on Small Business Newsletter: Businesses permanently close rather than wait out pandemic shutdown GlobeSmallBiz

While west end Torontonians mourned Vesuvio Pizzeria & Spaghetti House last week as the neighbourhood stalwart faced closing after 63 years, its owners got a shock from Ottawa.Ottawa unveils $1.2-billion in pandemic funding for startups, small business

The federal government is adding $250-million to a fund that helps small and medium-sized businesses commercialize their work as part of $1.2-billion in new pandemic support for entrepreneurs, which follows weeks of warnings from companies that they were being excluded from Ottawa’s relief packages.

Two Toronto startups that have seen demand spike for their digital offerings during the pandemic have raised millions of dollars in venture capital, a sign private investors are keen to fund business models that look compelling in a post-COVID-19 world.Canadian medical supplies manufacturer AMD Medicom Inc.

OneEleven, tech accelerator backed by OMERS, will shut down for good due to financial hit from coronavirusOneEleven, the Toronto-based technology accelerator backed by the Ontario Municipal Employees’ Retirement System pension fund, will permanently shut down in May because of financial strain from the novel coronavirus.

 

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GlobeSmallBiz Its going to be devastating unless of course you're a PS union employee...

GlobeSmallBiz just gotta get that 33 in there eh?

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