Numetrica Advocates for Small Businesses as CEBA Loan Deadline Approaches

November 29, 2023 08:00 AM EST | By EIN Presswire
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OTTAWA, CANADA, November 29, 2023 /EINPresswire.com/ -- As the January 18th, 2024, deadline to pay back a portion of the Canada Emergency Business Account (CEBA) Loan draws near, Numetrica, a leading accounting services firm based in Ottawa, reaffirms its unwavering support for Canadian small businesses navigating the ongoing economic challenges posed by the COVID-19 pandemic by launching a petition for financial relief.

The pandemic had a significant and lasting impact on small businesses in Canada. The CEBA Loan, providing a crucial $60,000 injection to struggling businesses, presents an opportunity for financial relief. By paying back $40,000 by the looming deadline, businesses can benefit from a forgiveness of $20,000. However, the reality is that many small businesses are still struggling to recover from the financial losses they incurred during the pandemic, and some may never fully recover.

A recent survey by the Canadian Federation of Independent Business (CFIB) highlights the ongoing challenges faced by Canadian small businesses today. CFIB’s Business Barometer® index dropped 1.5 points in October to 47.2, indicating a decline in small business optimism. This is the lowest reading for the index since the onset of the pandemic. Challenges such as weakening demand, supply chain disruptions and labor shortages are putting a strain on small businesses, with many reporting that they are struggling to make ends meet.

Moe Tabesh, CPA, CGA, B.Comm, founder of Numetrica, empathizes with the struggles faced by small business owners and initiated a petition on Change.org, garnering over 16,000 signatures to date. The petition, accessible at https://chng.it/SLC8BMDJJ9, urges government representatives to consider complete loan forgiveness for small businesses facing ongoing financial hardships.

"As a business consultant, I have witnessed firsthand the struggles of my clients who have borrowed funds through the Canada Emergency Business Account," says Moe Tabesh. "These are hardworking individuals who contribute significantly to our economy, yet they find themselves unable to repay these loans due to continued financial hardship.”

Numetrica stresses the importance of small businesses in Ottawa and their integral role in the local economy. If these businesses were to falter, the impact on employment, community engagement, and overall economic health would be profound.

“Small businesses are the backbone of our economy,” said Tabesh. “They create jobs, provide essential goods and services, and contribute to the vitality of our communities. We cannot afford to lose them.”

Small business owners and their advocates are urged to sign the petition and join the collective effort to secure loan forgiveness for those who need it most.

“Supporting this cause will contribute to the resilience of our local businesses and ensure they continue to thrive in the face of ongoing challenges,” Tabesh added.

In addition to advocating for loan forgiveness, Numetrica offers a comprehensive suite of services tailored to support local businesses. From accounting and bookkeeping to corporate taxes, income tax, payroll, cloud accounting, CRA audit representation, and navigating GST/HST remittances, Numetrica serves as a strategic partner in ensuring the financial health and success of its clients.

For more information and to sign the petition, please visit https://chng.it/SLC8BMDJJ9.

About Numetrica
Numetrica, founded by Moe Tabesh, CPA, CGA, B.Comm, is an Ottawa-based accounting services firm with a compelling origin story rooted in resilience and determination. Moe's journey from a taxi driver supporting himself through university to becoming a successful entrepreneur shapes Numetrica's ethos of contributing meaningfully to society. Inspired by superhero narratives, Numetrica transforms traditional accountant stereotypes, fostering a community of small business superheroes. Offering a comprehensive suite of services, including accounting, bookkeeping, corporate taxes, and more, Numetrica stands out with its personalized approach, cutting-edge technology, and commitment to long-term client relationships. Beyond accounting, Moe Tabesh advocates for small businesses, initiating a petition urging government representatives to consider loan forgiveness for those facing ongoing challenges due to the pandemic. Learn more at https://www.numetricacity.ca.

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Moe Tabesh
Numetrica
+1 613-903-5988
[email protected]
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