Ontario government offering Small Business Support Grant
The Ontario government has received more than 42,000 applications for the Ontario Small Business Support Grant, according to a release from the Ontario government dated Friday, Jan 22, 2021. The government says businesses that have been approved can expect to receive payment within about 10 business days.
During the Provincewide Shutdown all eligible small businesses facing challenges are being encouraged to apply for this financial support and receive at least $10,000 and up to $20,000.
An update on the new one-time grant was provided by Peter Bethlenfalvy, Minister of Finance and President of the Treasury Board, Vic Fedeli, Minister of Economic Development, Job Creation and Trade, Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction, and Lisa Thompson, Minister of Government and Consumer Services, according to the release.
“There’s no question that eligible small businesses need urgent relief to help them navigate this challenging period,” said Minister Bethlenfalvy. “If you own an eligible small business in Ontario, I urge you to visit Ontario.ca/COVIDsupport to join tens of thousands of others to access the support that is available to help navigate COVID-19.”
Small businesses required to close or significantly restrict services under the Provincewide Shutdown are able to apply for the Ontario Small Business Support Grant and use this funding in whatever way makes the most sense for their individual business needs, according to the release. For example, some businesses could need support paying employee wages, while others could need support with their rent. The program will financially support a variety of businesses, including restaurants, retail and personal care services.
Eligible small businesses include those that:
- Were required to close or significantly restrict services due to the Provincewide Shutdown imposed across the province effective 12:01 a.m. on December 26
- Have fewer than 100 employees at the enterprise level
- Have experienced a minimum of 20 per cent revenue decline in April 2020 compared to April 2019. New businesses established since April 2019 will also be eligible if they meet the other eligibility criteria. They will be able to select alternative months for comparing revenue decline through the application portal.
“Whether your small business employs a couple of close family members or dozens of people from all over the community, it matters to our government and to our province,” said Associate Minister Sarkaria. “That’s why we want you to go to ontario.ca/COVIDsupport to apply for grants that can help bridge the gap to better days ahead. It’s easy, it’s fast, and it’s one of many ways our government is supporting small businesses – every step along the way.”
In the release, Minister Thompson said the team at Government and Consumer Services is ready to assist with any questions applicants may have. “The overwhelming number of applications demonstrates that our government’s support of small businesses has been well received in every community across Ontario,” he said.
More information about the Ontario Small Business Support Grant and other rebates is available on Ontario.ca/COVIDsupport.