The government is announcing the new Ontario Small Business Support Grant, which will provide a minimum of $10,000 and up to $20,000 to help small business owners during this challenging period.
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.
Full Article: news.ontario.ca