Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation (Photo credit: Province of B.C./Flickr)

By Pete McIntyre

More businesses eligible

Business recovery grant program extended

Mar 4, 2021 | 9:39 AM

The B.C. government has extended the deadline for the Small and Medium Sized Business Recovery Grant program to ensure businesses have the time they need to apply.

One of the main requirements has also been lowered to ensure more businesses are eligible.

The time to apply for the program has been extended from March 31, 2021, to Aug. 31, 2021.

The previous requirement for a business to have experienced at least a 70 per cent revenue loss at some point in March or April 2020 has been adjusted. Now, a business is required to demonstrate only a 30 per cent revenue loss in any one month between March 2020 to the point of application.

Grants of 10-to 30-thousand dollars are available, while tourism-related businesses can receive even more.

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“We continue to listen to B.C. businesses about what they need to navigate through the second wave of this pandemic and position themselves for a strong recovery,” Ravi Kahlon, Minister of Jobs, Economic Recovery and Innovation, said. “This funding has been set aside for businesses to help them rebuild, keep people employed and support B.C.’s economic recovery. We are committed to making sure hard-hit businesses can access these critical funds.”

The $345-million program provides fully funded grants to businesses that employ up to 149 B.C. residents. Grants of $10,000 to a maximum of $30,000 are available, with up to an additional $5,000 to $15,000 available to tourism-related businesses.

Todd Stone, BC Liberal Critic for Jobs, Economic Recovery and Innovation, is pleased to see the NDP has finally taken the Opposition’s advice and extended the deadline for its botched Small and Medium-Sized Business Recovery Grant program.

“I’m glad the NDP government is making these changes which the BC Liberals have been advocating for since last year,” said Stone. “Unfortunately, this has taken so long that many small businesses have already closed down, and it might be too late for many others. Countless businesses could be in a better position today had the NDP not stubbornly refused to budge on extending the program deadline.”

While today’s changes have once again relaxed some requirements of the program, Stone is urging the government to make further adjustments, including:

Eliminating the requirement for applicants to have been in business for 18 months from the date of application;
Reducing the red tape associated with the program by speeding up the application and approval process — recognizing government already has most of the information it is requesting from these businesses.

Click here for more information on the Small and Medium Sized Business Recovery Grant program, including the application process and eligibility.

by Pete McIntyre

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