As a result of the provincial lockdown on Boxing Day, the province has launched the new Ontario Small Business Support Grant.
It says the grant will provide up to $20,000 to help hundreds of thousands of businesses.
Small businesses required to close or restrict services under the Provincewide Shutdown will be able to apply for this one-time grant. Each small business will be able to use the support in whatever way makes the most sense for their individual business. For example, some businesses will need support paying employee wages or rent, while others will need support maintaining their inventory.
Eligible small businesses include those that:
- Are 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.
Starting at $10,000 for all eligible businesses, the grant will provide businesses with dollar for dollar funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown. The business 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.
For small businesses not in operation in April 2019 or April 2020, eligibility criteria will be announced in January 2021.
Businesses that are not eligible include those that were already required to close prior to the introduction of modified Stage 2 measures, and essential businesses permitted to operate with capacity restrictions (e.g., discount and big box stores selling groceries, supermarkets, grocery stores, convenience stores, pharmacies, and beer, wine and liquor stores).
Further details, including how to apply for the Ontario Small Business Support Grant, will be announced in January 2021.
For more details and to find out if you’re eligible, please click here.
If your small business is affected by the Provincewide Shutdown effective December 26, you could be eligible for the new Ontario Small Business Support Grant. Find out more: https://t.co/Ey2romVGrk pic.twitter.com/fUI3hjkEbm
— Ministry of Finance (@ONfinance) December 22, 2020
Today, I announced that Ontario will enter a province wide shutdown starting at 12:01AM on December 26. This difficult action is necessary to save lives & prevent our hospitals from being overwhelmed in the coming weeks. Make no mistake, thousands of lives are at stake right now. pic.twitter.com/1TVAqHmysQ
— Doug Ford (@fordnation) December 21, 2020