New Ontario Small Business Support Grant
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The government of Ontario 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.
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, 2020
- 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.
Further details, including how to apply for the Ontario Small Business Support Grant and details for eligibility criteria for small businesses not in operation in April 2019 or April 2020, will be announced in January 2021.