Applications Now Open for Ontario’s Small Business Support Grant
Jan. 16, 2020
Global Korean Post
The Ontario government has opened applications for the new Ontario Small Business Support Grant. The grant, first announced in December, provides a minimum of $10,000 to a maximum of $20,000 to eligible small businesses who have had to restrict their operations due to the Provincewide Shutdown. The tightened restrictions were put in place to help stop the alarming rise of COVID-19 cases in Ontario.
Small businesses required to close or significantly restrict services under the Provincewide Shutdown 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 Provincewide 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.
Businesses impacted by the Provincewide Shutdown 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.
The businesses must demonstrate they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. This time period was selected because it reflects the impact of the public health measures in spring 2020, and as such provides a representation of the possible impact of these latest measures on small businesses.
