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)
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