The Small and Medium Sized Business Recovery Grant program provides fully funded grants to businesses to ensure they have the support they need during and beyond COVID-19. On March 4, new program criteria was announced.
If you applied to the program prior to March 4, 2021:
Grants of $10,000 to $30,000 are available to small and medium sized B.C. businesses impacted by COVID-19. An additional $5,000 to $15,000 grant is available to eligible tourism-related businesses.
The program runs until August 31, 2021 or until the funds are fully allocated, whichever comes first.
Businesses apply for funding online.
If you’re eligible, you’ll be asked to develop a recovery plan. Professional service providers are available to help businesses with the recovery plan as needed. More information is available in the application.
Once your recovery plan is submitted and reviewed, approved businesses will receive grant funding for their plan.
You may be asked to give information and documentation about your recovery efforts and how the grant funding was used.
Tourism-related businesses can qualify to receive up to $15,000 in additional funding if you are eligible for the base grant and meet the tourism grant top-up criteria.
To receive the tourism grant top-up, you must declare that a significant part of your business’s total goods or services are purchased by visitors.
Tourism-related businesses are those that cater to persons travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes. This is based on the definition of tourism from Statistics Canada.
Tourism sector businesses can include:
Learn more about the program and the new criteria: https://www2.gov.bc.ca/gov/content/economic-recovery/business-recovery-grant#new
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