Economic Development Regina creates strategy for businesses to survive during COVID-19

Economic Development Regina is developing a strategy to help businesses in the city that are being impacted by COVID-19.

The strategy focuses on getting information to business leaders, as well as delivering coaching and mentorship and preparing an action plan to support a recovery as fast as possible.

Board Chair Frank Hart says these are unprecedented times.

“We just felt that we needed to step up and try and coordinate what we could in the community to make sure that we come out of this as best as possible.”

Hart says some businesses have already had to close permanently due to the pandemic.

“Some of these people have obviously put all of their savings or a lot of their savings, and blood, sweat and tears into the business and they’re not obviously keen to walk away from it,” Hart said. “For some businesses like retail, food services/restaurants, accommodations, it’s very tough.

“You need the people in the facilities to make it work.”

Hart says he has an important message to business owners.

“Delay paying the bills that you can avoid paying, pay something on the ones you have to pay, and just try to preserve as much cash as you can to get through it.”

Hart says this strategy has become top priority in recent weeks, and hopes it will help businesses in the city stay open after the COVID-19 pandemic.

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