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Small- and Medium-Sized Business Recovery Grant

The B.C. provincial government has introduced a grant for small- and medium-sized businesses impacted by COVID-19. This program is meant to provide financial support for businesses who have been hit especially hard by the pandemic


Eligibility

  • Majority share of the business is owned by at least one B.C. resident

  • Business's sole or primary operations are located in B.C.

  • The business is currently operating and has been operating in B.C. for at least 3 years prior to March 10, 2020

  • The business is registered in B.C. and pays taxes in B.C.

  • The business has between 2-149 employees for at least 4 months of the calendar year

  • Prior to COVID-19, the business had a positive cash flow for the last financial statement

  • experienced revenue loss of at least 70% during March 2020 and April 2020

  • Continue to earn 50% or less of pre-COVID revenue levels

  • Has and maintains a payroll account number with CRA

  • Maintains a:

- Goods and Services Tax number with the CRA

- WorkSafeBC registration number

- Provincial Sales Tax number and Municipal and

Regional District Tax number with the Ministry of

Finance (where applicable

- Business license and all other operating licenses as

required


How It Works

  • Eligible businesses apply for support via online application

  • Businesses are matched with a professional services provider who will provide $2000 worth of free consulting to assess the business' recovery plan or to hep them develop one

  • That plan is submitted to the government, and if approved, grant funding is provided to implement the plan


Grant Amounts

  • The amount of grant you can receive depends on your business's pre-COVID revenue


Pre-COVID Revenue Grant Amount

Less than $100,000 $10,000

$100,000 to $1,000,000 $15,000

$1,000,000 to $2,000,000 $20,000

More than $3,000,000 $30,000


  • Tourism businesses can receive an additional top-up grant of $5000 (for those with 2-4 employees or $10,000 for those with 5-149 employees)


Applications are open now!