Ontario Construction News staff writer
Applications are open for the new Ontario Small Business Support Grant that will provide $10,000 to $20,000 to eligible small businesses impacted by the provincewide shutdown.
“As Ontario’s employers do their part to defeat COVID-19, they are facing unprecedented challenges as a result of this global pandemic,” said Peter Bethlenfalvy, minister of finance and president of the Treasury Board.
“I encourage every eligible small business owner in Ontario to access the support our government has made available.”
Small businesses required to close or significantly restrict services will be able to apply for a one-time grant and use this funding in whatever way makes the most sense for their individual business needs. For example, some businesses could need support paying employee wages, while others could need support with their rent.
Eligible small businesses include those that:
- Were required to close or significantly restrict services due to the shutdown being 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.
“Small businesses are the heart of Ontario’s economy,” said Vic Fedeli, minister of economic development, job creation and trade. “The Ontario Small Business Support Grant will help thousands of small businesses get through this difficult time, while strengthening our province’s economic recovery.”
Businesses are also eligible for additional supports, including the government’s program to provide rebates to offset fixed costs such as property tax and energy bills. These rebates will continue to be available for businesses impacted by the Provincewide Shutdown and earlier restrictions.
To qualify, businesses must demonstrate a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020.
New businesses established since April 2019 will also be able to select alternative months for comparing revenue decline through the application portal. In addition, winter seasonal businesses, such as ski hills, will be permitted to compare revenue from December 2019 or January 2020 to December 2020.