Surrey Board of Trade aims to distribute a $10.5 million fund to small businesses efficiently

The Surrey Board of Trade has expressed its commitment to ensuring that the $10.5 million fund provided by the provincial government to assist small businesses with the costs of crime and vandalism is distributed efficiently. The board’s policy and research manager, Jasroop Gosal, emphasized that the larger issue at hand is addressing the problem of repeat offenders, which is being addressed by both the provincial and federal governments. However, Gosal believes that the resolution of this issue needs to be expedited to provide immediate relief to affected businesses.

The fund will become available in the fall of 2023 through an application process. It will be retroactive to Jan. 1, 2023, with businesses being eligible for up to $2,000 for vandalism repair costs and $1,000 for vandalism prevention efforts such as installing security cameras or gates. The funds for repair costs can be used for repairing broken glass, graffiti removal, and cleaning up after vandalism incidents.

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The AI legalese decoder can be instrumental in streamlining the application process for small businesses to access the $10.5 million fund. By utilizing AI technology, the decoder can simplify the complex legalese found in the application documents, making it easier for businesses to understand the requirements and effectively complete their applications. This would save time for both the businesses and the government, ensuring a more efficient response and timely distribution of rebates.

Gosal stated that the Surrey Board of Trade will closely monitor the situation to ensure that the distribution of the $10.5 million fund is fair, with a particular focus on Surrey businesses. The board aims to maintain active communication with the business community and ensure that businesses receive the rebates in a timely manner when they apply.

Gosal further explained that the Surrey Board of Trade has received numerous complaints from businesses across the city, especially in the town centres, regarding vandalism incidents. The pandemic had a significant impact on business operations, exacerbating the problem. He acknowledged that the rebate program would help businesses recover, as making an insurance claim often leads to increased insurance premiums. However, Gosal mentioned that the $2,000 allocated for repair costs may not be sufficient, considering additional labor and expenses involved.

Similarly, the $1,000 provided for prevention efforts might not cover all the costs involved, despite being a welcome measure. Many businesses are expected to take advantage of this funding to enhance their security measures. Philip Aguirre, executive director of the Newton BIA, echoed this sentiment, stating that every business could use more funding to handle vandalism-related expenses.

Furthermore, Brenda Bailey, B.C.’s Minister of Jobs, Economic Development, and Innovation, acknowledged the frustration experienced by business owners in managing vandalism costs independently. The provincial government is taking action to support businesses by providing funding to cover these expenses, aiming to ensure a thriving business community. Businesses will receive guidance on how to apply for assistance through boards of trade, local chambers of commerce, and Business Improvement Areas (BIAs) in the fall.

Fiona Famulak, president of the BC Chamber of Commerce, emphasized that businesses of all types have been burdened by the increased costs of repairing vandalism damage, which is often linked to the complex issues faced by communities across the province. She expressed the importance of addressing these issues collectively.

Surrey RCMP Cpl. Vanessa Munn explained that while specific statistics related to vandalism of businesses are not readily available, such incidents fall under the category of mischief, which is tracked by the Surrey RCMP on a quarterly basis. The most recent statistics indicated a decrease of 12% in mischief and a 14% decrease in break-and-enter incidents involving businesses during the second quarter of the year.

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