Important Changes to the Small and Medium Sized Business Recovery Grant Program

Thursday, January 7, 2021
Author: 
Greg Booth

There has been important changes to the Province of British Columbia’s Small and Medium Sized Business Recovery Grant Program. I would like to share the following information with you:
 
We are pleased to share that criteria for the Small and Medium Sized Business Recovery Grant program has expanded. In response to feedback, we have simplified the application process and streamlined program criteria. Program changes will make it easier for businesses to apply for and receive funding to help them get back on their feet. 
 
Updates include:
• Increased grant amounts available to tourism-related businesses of up to $15,000 on top of the base grant, with an expanded definition of “tourism”
• Sole proprietorships and partnerships that do not have staff can now apply for the program if they have fixed costs related to tangible assets
• Reduced revenue loss requirement from 50% to 30% at some point during May 2020 to present
• Removed requirement to list GST, PST and WorkSafeBC Registration numbers
• Streamlined recovery plan template
 
Visit the Small and Medium Sized Business Recovery Grant webpage for further details.
 
If you have any questions or concerns, please program staff at the following email address, BusinessRecoveryGrantProgram@gov.bc.ca, or by phone at 1-833-254-4357.
 
I strongly encourage you to reach out to your BC based members or constituents and communicate these changes as this program is first apply - first serve and the program’s application period is forecast to end on March 31, 2021.

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