Financial supports on the way for B.C. businesses

Dec 23, 2021 | 10:59 AM

Businesses forced to close under the new COVID-19 restrictions will be able to access some financial relief in the new year.

Ravi Kahlon, the Minister of Jobs, Economic Recovery and Innovation, announced Thursday that the province is establishing the COVID-19 Closure Relief Grant.

“This new grant will be available for businesses who have been ordered closed by the recent public health order,” said Kahlon.

“Relief grants will be between $1,000 and $10,000 in one-time funding that will be provided to eligible businesses based on their number of employees, following the similar formula that we used for the previous Circuit Breaker Relief Grant program, which supported businesses in spring 2021.”

The grant can be used for expenses, such as employee wages; paying rent; insurance; and maintenance and utilities.

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Businesses ordered to fully close include gyms, fitness and adult dance centres; bars, lounges and nightclubs; and event venues that can no longer hold events.

“We know that not all businesses are the same. Each business has unique challenges, and so we have purposely built the grant, the non-repayable grant, in a way the business can decide is the best use,” Kahlon explained.

“We know in the past businesses have used these dollars to provide supports for their employees, and some have used them for rent, so we wanted to make sure it was broad enough that the business can decide what their immediate need is and use that for their immediate need.”

It’s estimated that the COVID-19 Closure Relief Grant program will cost roughly $10 million.

Applications are expected to open in January.

“Eligible businesses that are already in the government’s system through existing COVID-19 relief programs, such as the Small and Medium Sized Recovery Grant program or the Circuit Breaker Relief Grant program, will have their applications streamlined,” said Kahlon.

The province said details on how to apply for the financial assistance will be made available in the coming weeks, and that the application process will remain open through to the end of February 2022.

A call centre will be established in early January and staffed with business advisors who will be able to support and direct applicants through the process. Business owners can also email questions to covid@smallbusinessbc.ca.

Kahlon acknowledged that this is a difficult time for many businesses to be forced to close their doors, but noted that something had to be done to address the rising cases of COVID-19, including those involving the Omicron variant.

“I think it’s fair to say we’re all exhausted by COVID-19, but unfortunately COVID-19 is not done with us,” said Kahlon.

“People, businesses and our communities have been through a lot this year, and I recognize how difficult, yet necessary, these health orders are for our health and safety, and how challenging these are for businesses, for owners, for workers and their families, for customers, especially at this time of year.”

He also stated that locally-owned businesses need support, and encouraged people to continue to shop local, including buying gift cards for businesses forced to close temporarily to be redeemed at a future date.

by Liam Verster

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