Support for Small Businesses in Ontario
(Ontario Government support for individuals can be found at: https://www.ontario.ca/page/covid-19-support-people.)
We want to touch on the three small business measures that we think will apply to most small businesses:
- Ontario’s Small Business Support Grant;
- Ontario’s Main Street Relief Grant: PPE support; and
- Ontario’s Energy Assistance Program for Small Business (CEAP-SB).
For full details on these programs and others, please see:
https://www.ontario.ca/page/businesses-get-help-covid-19-costs#section-0.
Applications can be made for all these programs by clicking on the blue “Apply for funding” button at the top of the webpage.
Ontario’s Small Business Support Grant
This grant will provide $10,000 to $20,000 to help small businesses that were required to close or restrict services under the provincial shutdown implemented on December 26, 2020. The business must show a revenue decline of 20% or more when comparing monthly revenue in April 2019 to April 2020. This measure specifically targets businesses, with 100 employees or less. The program is not yet available, but the government notes that applications will be open in January 2021. If you think your small business will qualify, set a reminder for January 31.
Ontario’s Main Street Relief Grant: Personal Protection Equipment (PPE) support
This program provides small businesses, specifically two to nine employees, with a grant of up to $1,000 for the cost of PPE. Not only do gloves, masks, hand sanitizer, and other typical PPE qualify, but signs and stickers informing customers would also qualify. Receipts are required. Please note that this support is limited to the following sectors:
- Retail
- Accommodation and food services
- Repair and maintenance
- Personal and laundry services
- Gyms and yoga studios
Ontario’s Energy Assistance Program for Small Business (CEAP-SB)
This program provides a one-time, on-bill credit to eligible small business and registered charity customers to help them catch up on their energy bills. Support is up to $425 towards their electricity bill ($850 if heating is primary use of electricity), and up to $425 in support towards their natural gas bill. Applications must be made through your utility or USMP directly. There are a number of eligibility requirements which can be found here: https://www.oeb.ca/rates-and-your-bill/covid-19-energy-assistance-programs/covid-19-energy-assistance-program-small.
Please note that business grants and subsidies are taxable in the year received (including the forgivable portion of your CEBA loan). Most individual supports are also taxable in the year received.