As the pandemic continues to evolve, creating new challenges for businesses, we have continued listening to community leaders, businesses, and organizations throughout BC. This feedback has contributed to further improvements to the Small and Medium Sized Business Recovery Grant Program.
I am excited to let you know that updates have now been made to the Program. As of March 4, 2021, we have extended the application deadline to August 31, 2021 or until funds are fully committed, whichever comes first.
Additionally, businesses now need to show a 30 percent revenue loss from March 2020 to now, when compared to the same one-month period in 2019. These changes will ensure more businesses are eligible, while providing business owners the extra time they have asked for to submit their applications.
We have also allowed for extra help with things like gathering the right documents during the application stage, or supporting applications with translation or interpretation services. Eligible businesses – bookkeepers, accountants, and lawyers – can now support small businesses applying for the grant from the start of the application process and will continue to be eligible for the $2,000 in additional Government funding paid to the service provider once they register with Small Business BC.
Here’s a summary of the changes:
- The Program has been extended to August 31, 2021 or until funds are fully expended, whichever comes first.
- Applicants no longer need to show a revenue loss of 70 percent in March or April 2020 when compared to the same one-month period in 2019. Now a 30 percent loss is all that is required.
- Businesses that have applied to the Program already will have their applications re-evaluated automatically if they didn’t qualify because of the previous 70 percent revenue requirement.
- Service providers – accountants, bookkeepers, and lawyers – can support their clients from the start of the application process.
- Businesses that have been approved for funding are not affected by these changes.
Please visit the Program website at: http://www.gov.bc.ca/businessrecoverygrant for full eligibility criteria and to find grant information translations in easily, shareable PDFs for Simplified Chinese, Punjabi, French, Farsi, Korean, Vietnamese, and more.
How you can help
Help us get this information to businesses in your community by amplifying and sharing (please copy and paste the URL into your browser if the direct link does not work):
- The program website: http://www.gov.bc.ca/businessrecoverygrant
- This video encouraging businesses to apply:
Need more information?
If you or a business in your community has any questions or needs help, including language translation and interpretation support, call 1 833 254‑4357 or email: [email protected].
Minister of Jobs, Economic Recovery and Innovation