The Small and Medium Sized Business Recovery Grant program provides fully funded grants to businesses to ensure they have the support they need during and beyond COVID-19.
How the program works
Grants of $10,000 to $30,000 are available to small and medium sized B.C. businesses impacted by COVID-19. An additional $5,000 to $15,000 grant is available to eligible tourism-related businesses.
The program runs until March 31, 2021 or until the funds are fully allocated, whichever comes first.
The first step is to apply for funding online.
If you’re eligible, you’ll be asked to develop a recovery plan. Professional service providers are available to help businesses with the recovery plan as needed. More information is available in the application.
Once your recovery plan is submitted and reviewed, approved businesses will receive grant funding for their plan.
You may be asked to give information and documentation about your recovery efforts and how the grant funding was used.
How It Can Benefit The Tourism
Tourism-related businesses can qualify to receive up to $15,000 in additional funding if you are eligible for the base grant and meet the tourism grant top-up criteria.
To receive the tourism grant top-up, you must declare that a significant part of your business’s total goods or services are purchased by visitors.
Tourism-related businesses are those that cater to persons travelling to and staying in places outside their usual environment for not more than one consecutive year for leisure, business and other purposes. This is based on the definition of tourism from Statistics Canada.
Tourism sector businesses can include:
- Food and beverage services
- Entertainment services
- Travel services
- Recreational vehicle rentals
- Other similar businesses
- Long-term stays
- Condominium sub-leases
- Home-stay arrangements
- Vacation rentals
How To Use Your Funding
Funding can be used to implement the actions identified in your recovery plan. For example, you might propose to:
- Provide new services to your customers
- Modify your physical business location
- Install new outdoor patio with social distancing barriers
- Support your business moving online — Web321 can help!
- Hire an online marketing service — Web321 can help!
Actions that your business had implemented prior to the StrongerBC announcement on September 17, 2020 are not eligible for funding.
Funds can be used to support fixed costs such as rent/lease or other overhead costs.
To apply, click here.