The Ontario Small Business Support Grant is additional support for small businesses in the province who had to close or restrict their operations because of the Covid-19 pandemic. It was first announced in December 2020 and offers funding of $10,000 to $20,000 to eligible businesses.
This will be a one-time grant and is designed to help businesses cover their needs during the province-wide shut down. Owners can use these funds in whatever way makes the most sense for their business needs. For example, someone could use the funds to help with their rent while others could use it to pay employee wages.
In order to receive the grant, the small business must meet the following criteria.
- They should be required to close or restrict services subject to the province-wide shut down which came into effect at 12:01 AM on December 26, 2020.
- They should have fewer than 100 employees at the enterprise level. They will also need to provide information about the number of employees.
- They should have experienced a minimum of 20% revenue decline when comparing the revenue in April 2020 to the revenue in April 2019. New businesses established since April 2019 are also eligible for the grant provided that they meet other eligibility criteria.
- They will need to provide their Business Number. If you do not have a Business number then you will be directed to apply for a Business Number before proceeding with the application.
- They will also have to attest to the information provided in the application.
Small businesses that were not in operation in April 2019 and April 2020 will be able to select alternative month for revenue comparison through the application portal.
Winter seasonal businesses such as ski hills will be allowed to compare revenues from December 2019 or January 2020 to December 2020.
Businesses that are not Eligible
These are the businesses that were required to close prior to the introduction of modified Stage 2 measures introduced on October 10, 2020 and essential businesses that are allowed to operate with restrictions. This includes supermarkets, grocery stores, pharmacies, convenience stores, discount stores, big box stores selling groceries and beer, wine and liquor stores.
You can apply for the grant by going here.
Businesses affected by the province-wide shut down can also get additional support such as rebates to offset costs such as utility bills and property tax. These rebates will be available for businesses affected by earlier restrictions and the province-wide shut down.
More information about these rebates is available here.
The team from Syed A. Raza Professional Corporation can also guide you about these and other types of support available for your business. Contact today and get a free consultation.