Updated: Jan 6, 2021
In our last post we discussed the BC Small and Medium Sized Business Recovery Grant Program, a new initiative the government of British Columbia enacted in order to support businesses impacted by COVID-19. As of December 21, 2020, the B.C. government made changes to the program which eased the eligibility requirements, making it easier for businesses to qualify for the Grant. Some of the eligibility changes include:
· businesses must have experienced a 30% revenue loss compared to the same period in 2019;
· there is no requirement to list certain remittance accounts (for example, GST and PST) for application purposes;
· businesses that have been in operation for the last 18 months from the point of submitting an application are eligible to apply for the Grant;
· sole proprietors and businesses that are seasonal or temporarily closed are now eligible to apply for the Grant.
In addition to the above, the B.C. government also increased the grant amounts available to those hardest hit in the tourism sector up to $45,000.
Any questions or concerns about the changes made to the program should be directed to Small Business BC: