Small and Medium Sized Business Recovery Grant
Did you know businesses in the tourism sector can now receive up to $45,000 under the new criteria?
The Government of British Columbia has made it easier for businesses to qualify for the Business Recovery Grant. Eligible Businesses can receive up to $30,000 and those in the tourism sector can receive up to $45,000. The base grant is based on annual revenues and the top-up grant portion is based on the number of BC resident employees employed or contracted.
How does the program work and how does a business find out if they are eligible?
You can full details on the Government of British Columbia’s website. Businesses need to apply online and develop a recovery plan. Once the plan is submitted and approved funding is provided. Businesses should keep records as they may be asked to submit to an audit of their recovery efforts.
If you are a business that applied to the program prior to December 18th, 2020, you do not need to resubmit your application.
The program runs until March 31, 2021 or until the funds are fully allocated, whichever comes first.