Province announces second round of grants for small businesses
With restrictions for businesses still in place for many regions, and many more concerned about a looming third Ontario-wide lockdown, the province has announced it's providing further assistance for businesses.
Business owners who were eligible for and received the Ontario Small Business Support Grant will automatically receive a second payment equal to their first--the total for this installment will be $20,000, the same as the first, for a total of $40,000 in funding.
Through these two grants, the province will have provided $3.4 billion in support to approximately 120,000 small businesses from across Ontario.
“One of the most significant inequities of the pandemic has been the impact on small business owners and their employees who have faced significant restrictions,” Peter Bethlenfalvy, Minister of Finance and president of the Treasury Board, said in a news release.
“That’s why in the Budget yesterday we announced a second payment of the Ontario Small Business Support Grant -- so that eligible small businesses will automatically receive a second payment in an amount equal to their first. Businesses in communities from Sarnia to Sault Ste. Marie have said this support is the difference between keeping the lights on and turning them off for good," he continued.
Additionally, business owners whose businesses may be eligible for the grant but have not yet applied may still do so until March 31.
“Small businesses have faced some of the most difficult impacts of COVID-19, all while continually stepping up to help their communities and bringing forward their innovative ideas and solutions throughout the pandemic,” Vic Fedeli, Minister of Economic Development, Job Creation and Trade, said in the same release.
“We introduced the Small Business Support Grant to give businesses a helping hand, and today nearly 100,000 businesses have received over $1.414 million in support. In the 2021 Budget we announced a second round of payments will be made to eligible recipients to make sure our small businesses continue to be supported as we get closer to our economy reopening," he continued.
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