One of the main requirements has also been lowered to ensure that more businesses are eligible for the grant. The time to apply has been changed from March 31 to August 31. The requirement has been adjusted from businesses having to show a 70 per cent revenue loss in March or April 2020, to a 30 per cent revenue loss in any one month between March 2020 to the point of application.
The $345-million Small and Medium Sized Business Recovery Grant program provides fully funded grants to businesses. Grants of $10,000 to a maximum of $30,000 are available with up to $5,000 to $15,000 available to tourism-related businesses.
If a business is looking to apply they can do so by contacting Small Business B.C or online at the Government of B.C.’s Website. The program is part of B.C.’s Economic Recovery Plan.
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