Federal government announces more than $10 million for B.C. businesses facing trade war

The federal government has announced more than $10 million in investments for Lower Mainland businesses facing the effects of U.S. tariffs and Canadian counter-tariffs.

The money will be delivered as loans to some businesses and grants to others, intended to help companies modernize and expand despite the economic pressure. Twelve businesses, including Richmond-based Nickels Cabinets, which hosted Friday’s announcement, are receiving support. The funding is a small portion of the $3.5 billion allocated to the Regional Tariff Response Initiative.

Housing and Infrastructure Minister Gregor Robertson, who is also responsible for PacifiCan, said the investments are intended to help businesses pursue new growth opportunities, improve productivity, enter new markets and build more resilient supply chains.

The Canadian Federation of Independent Business said requirements including at least $1 million in annual revenue and a minimum employee count exclude many small businesses. B.C. senior policy analyst Kalith Nanayakkara said small businesses of all sizes are important to supply chains and that entrepreneurs have limited time while managing a difficult regulatory environment.

Vancouver Island business owner Darcy Lane said his company met the revenue threshold but not PacifiCan’s employee-count requirement. It has received some support through the Business Development Bank of Canada, but Lane said it has millions of dollars in U.S. projects in its pipeline and needs further help. He said the company would inevitably lose that work if negotiations fail and tariffs remain, as businesses do not set aside 50 per cent of a project budget to pay a tariff.

Robertson said PacifiCan is considering ways to streamline its processes, while maintaining the vetting needed to distribute funds responsibly.