Ontario offering new $10,000 grant to small businesses

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Ontario offering new $10,000 grant to small businesses

On January 7th, the Ontario government announced a new $10,000
COVID-19 Small Business Relief Grant for eligible small businesses that are
subject to closures under the modified Step Two of the Roadmap to Reopen.
According to a recent news release issued by the provincial government, the
the application portal will open “in the coming weeks” and qualifying small
businesses will receive payment in February.

Eligibility

The Ontario government provided the following list of eligible small
businesses:

  • Restaurants and bars

· Facilities for indoor sports and recreational fitness activities
(including fitness centres and gyms)

  • Performing arts and cinemas

· Museums, galleries, aquariums, zoos, science centres, landmarks, historic
sites, botanical gardens, and similar attractions

  • Meeting or event spaces
  • Tour and guide services
  • Conference and convention centres
  • Driving instruction for individuals
  • Before – and after- school programs

Furthermore, eligible small businesses that previously qualified under the
Ontario Small Business Support Grant (last available in early-2021) and are
also subject to closures under the modified Step Two of the Roadmap to
Reopen will not need to reapply for the new grant as they will be
“pre-screened” for eligibility. Businesses that are newly established may
also, be eligible for the new grant.

Additional measures

The Ontario government recently introduced the following measures for small
businesses:

· Ontario Business Costs Rebate Program offers rebates on property tax and
energy costs. The program opens on January 18th, 2022.

  • A cap on electricity rates for 21 days

· Six-month interest and penalty-free on most provincially administered
taxes as of January 1, 2022.

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