🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

How Can Small Businesses in Canada Help Ukrainians?

Published 2022-03-16, 01:45 p/m

Let’s be real: for the last three weeks, most of us have been checking the news continuously. The war in Ukraine, which caught the world, not to mention Ukraine, off guard, has now grabbed the world’s attention.

And it hasn’t been good. Though Ukraine has held the Russian onslaught off — a David-versus-Goliath battle that has surely tugged quite a few heart strings — civilians are dying. Ukraine has lost reportedly $100 billion in assets. And who knows how many soldiers have died?

Canadian small business owners with a fair amount of influence might be wondering what they can do to help. Though we are a continent and an ocean away, there are two big things you can do to help Ukraine: donate and resettle refugees.

Start a donation campaign Perhaps the best way to help Ukrainians is to donate to one of the many organizations providing aid to the country. These organizations include the following:

  • Razom for Ukraine
  • Canada-Ukraine Foundation
  • UNICEF
  • Keep Ukraine Media Going
  • Ukraine Humanitarian Fund
  • Save the Children
  • GlobalMedic
  • The Red Cross and Red Crescent Movement
  • Revived Soldiers Ukraine
As far as how you donate, you have options. Many small businesses have pledged to donate a portion of their sales to Ukraine. For instance, you could donate 5% of your revenue for the month of March. Others are taking donations, whether cash or nonperishable foods, which they will then donate to organizations.

Remember: anything helps. Even if you can’t make a massive donation, a small one is sufficient, too.

Help resettle refugees The war has displaced millions of Ukrainians, leaving them homeless, jobless, and without any idea of what to do next. Countries bordering Ukraine have received the bulk of these refugees, yet some have family in North America, and they’re making their way here.

Others are coming by an open invitation. The Canadian government has recently lowered the visa requirements for Ukrainians fleeing war, making it easy for them to resettle in Canada. For instance, under the Canada Ukraine Authorization for Emergency Travel program, Ukrainians can have study or open work permits, and Canadian employers can hire as many Ukrainians as they want.

Small businesses who would like to help refugees resettle can offer them employment. This could be a win-win for certain small businesses who are plagued with a short staff. To offer employment, you can register with the Ukrainian Canadian Congress (UCC) or with Canada’s Private Sponsorship of Refugees (PSR).

How else can you help Ukraine? Though Russia has militarily invaded only one country, they have invaded others digitally. So, as you’re showing your support Ukrainians online, be sure your computer has cybersecurity that can stop ransomware from happening.

You might not think hackers would target a small business in, say, Saskatchewan. But you’d be wrong: the size of a business doesn’t matter to hackers, who want to cause as much disruption as they can. The less suspicious the victim, the better.

In addition to protecting your computer, you can also help stop the spread of disinformation. Be careful what you share on social media. Even if the information seems legitimate, verify the source for its authority and authenticity.

The post How Can Small Businesses in Canada Help Ukrainians? appeared first on The Motley Fool Canada.

This Article Was First Published on The Motley Fool

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.