New Ontario Small Business Support Grant Announced
December 21, 2020Cornwall Ontario – The Ontario government has announced the new Ontario Small Business Support Grant, which will provide a minimum of $10,000 and up to $20,000 to eligible small business owners to help navigate this challenging period.
“Ontario’s business owners have shown remarkable resolve and ingenuity throughout the pandemic. They know better than anyone what they need to come through this very difficult time, so they can continue to serve and employ people in their communities,” said Rod Phillips, Minister of Finance. “The new Ontario Small Business Support Grant will provide significant financial support to eligible small business owners in addition to the other supports made available to our small business community.”
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 subject to the Provincewide Shutdown effective 12:01 a.m. on December 26, 2020;
- Have less than 100 employees at the enterprise level; and
- 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.
Essential businesses that are allowed to remain open will not be eligible for this grant. More information about the Ontario Small Business Support Grant is available here. Further details, including how to apply, are available here:
Businesses that are impacted by the Provincewide Shutdown will also be eligible for the property tax and energy cost rebates. In November, the government launched a program to provide rebates to offset fixed costs such as property tax and energy bills for businesses that are required to shut down or significantly restrict services due to provincial public health measures. These Ontario Small Business Support Grant rebates will continue to be available for businesses impacted by the Provincewide Shutdown and earlier restrictions. Business can apply for the rebates here.
Business Reopening Toolkit
Cornwall Economic Development has put together a toolkit to help businesses reopen. The toolkit includes guidelines and a maximum occupancy calculator along with signs and posters that can be downloaded and printed:
We summarize the latest news about the impacts of COVID-19 on Cornwall businesses on a daily basis. Click on the following link to view: