[Article contents summarized from the media release in the link indicated below]
The Province of Ontario is providing eligible Ontario Small Businesses that have been impacted by the province-wide shutdown up to $20,000.
Eligible small businesses that have been required to close or significantly restrict services because of the province-wide shutdown might be eligible to apply for this one-time grant. There will be no restrictions on how this money can be used within the business in order to be approved. Whatever grant funding is received can be used in whatever way the business needs most.
What Small Businesses are Eligible?
Eligible small business may apply if they:
- Were required to close or substantially restrict services as a result of the province-wide shutdown, which was imposed effective 12:01 a.m. on December 26;
- Have fewer than 100 employees at the enterprise level; and,
- Have experienced a minimum 20 per cent revenue decline in April 2020 compared to April 2019. This also applies to new businesses established since April 2019 as long as they also meet the other eligibility criteria.
Businesses must be able to demonstrate that they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. New small businesses established since April 2019 will be able to select alternative months for comparing revenue decline through the application portal. Winter seasonal businesses can compare revenue from December 2019 or January 2020 to December 2020.
Other Small Business Support Funds & Rebates
Small businesses who may be eligible for the Ontario Small Business Support Grant may also be eligible for additional supports, including rebates to offset property tax and energy bills and other fixed expenditures.
As an additional note, “the 2020 Budget, Ontario’s Action Plan: Protect, Support, Recover outlined more than $13.5 billion in support for people and jobs. The government is also investing $4.8 billion to address critical areas to support a strong long-term recovery that helps workers, employers and communities get back on their feet, while building the foundation for recovery and growth.”
More information about the Ontario Small Business Support Grant and other rebates is available on Ontario.ca/COVIDsupport.
