A government agency has some help for small and medium sized businesses serving the oil industry.
Economic Development Canada is putting aside $750 million to assist the businesses during this economic downturn.
The agency will be choosing to support companies that have a solid two year survival plan and an export angle, whether that’s within Canada or outside the country.
EDC says it expects most of the recipients will be in Alberta and Saskatchewan.
The agency says it will be focusing on investments aimed at boosting productivity, opening up new markets for resources, and advancing technology that can help firms diversify into different industries.
The agency says by supporting the small to medium sized businesses it can have the biggest bang for the buck when it comes to jobs and the economy.