Canada Bolsters Support for BC Businesses Amid Economic Uncertainty

The Canadian government has expanded its support for businesses in British Columbia (B.C.) that are struggling to navigate economic uncertainty. The move comes as part of a broader $7.5 billion package, which includes an additional $1.5 billion in funding for the Regional Tariff Response Initiative.

Eligible businesses can access up to $3 million in non-repayable support through the RTRI, including up to $2 million for liquidity support and up to $1 million for pivot projects.

Repayable support is also available for larger transformation projects. Minister of Housing and Infrastructure Gregor Robertson stated that 'B.C. businesses are the backbone of our economy' and that the government is providing new, non-repayable liquidity support to help them strengthen supply chains and pursue new market opportunities.'

The Regional Tariff Response Initiative is part of Canada's strategy to defend Canadian jobs, industries, and supply chains. The government has so far announced a total of $25 billion in countermeasures against tariffs from the U.S.