Small and Medium-Sized Business Recovery Grant
What's new: program extended, eligibility expanded
As of March 4, 2021:
The program has been extended from March 31, 2021 to August 31, 2021 or until funds are fully expended, whichever comes first
Businesses only need to show a 30% revenue loss from March 2020 to now when compared to the same one-month period in 2019
Help preparing a complete application package is now available from a registered Small Business BC service provider
If you applied to the program prior to March 4, 2021:
You do not need to resubmit an application
Applications received prior to changes will be reviewed under updated program criteria
Businesses that have already been approved for funding are not affected by these changes
For more information, visit Small and Medium Sized Business Recovery Grant - Province of British Columbia (gov.bc.ca)
Canada Emergency Wage Subsidy (CEWS)
What's new: The deadline to apply for this subsidy is 180 days after the end of a claim period
As of February 24, 2021:
The government announced a technical change to bring CEWS in line with CRA’s current application of the deeming rule for claim period 11
Deeming Rule for claim period 5-13
If an eligible employer had a greater reduction in revenue in the immediately preceding claim period than it has otherwise determined for the current claim period, the reduction in revenue for the immediately preceding period is deemed to be the eligible employer’s reduction in revenue for the purposes of determining its base wage subsidy amount for the current claim period (deeming rule for periods 5 to 13 – see Table below). The exception to this rule being for claim period 11
See Frequently asked questions: Canada emergency wage subsidy (CEWS) - Canada.ca for more information on the Deeming Rule