Details about the Provincial grant is coming out today (Ontario Govt)
These just came out today. Thanks to Andrea Khanjin who gave me a head’s up!
The link is below – but there are conditions – there are two classifications for the grant ($10K – $20K)
- One Set of conditions that includes a drop in revenue from April 2019 – to April 2020 (of 20% or more)
- For startups – there are new conditions to be published today
https://www.ontario.ca/page/businesses-get-help-covid-19-costs#section-5
Starting at $10,000 for all eligible businesses, the grant will provide businesses with dollar for dollar funding to a maximum of $20,000 to help cover decreased revenue expected as a result of the Provincewide Shutdown. The business must demonstrate they experienced a revenue decline of at least 20 per cent when comparing monthly revenue in April 2019 and April 2020. This time period was selected because it reflects the impact of the public health measures in spring 2020, and as such provides a representation of the possible impact of these latest measures on small businesses. Other time periods are available for businesses that may not have been in operation in April 2019 – to be published today (see link)
Eligibility
To receive the grant, a small business must:
- Be required to close or restrict services subject to the Provincewide Shutdown effective 12:01 a.m. on December 26, 2020
- Have fewer than 100 employees at the enterprise level
- Have experienced a minimum of 20 per cent revenue decline comparing April 2020 to April 2019 revenues (or alternate time periods for businesses that were not in operation in April 2019).
Patricia is the Business Mentor and owner of Grow Vantage and a Past President of the Barrie Chamber of Commerce. She applies over 30 years of business experience (from start-up to corporate) to mentor entrepreneurs. Since 2011, she has held over 6,500 coaching and training sessions in-person and online. Through Ask For Directions Training, her entrepreneurial training program (and parent company Grow Vantage), and as a business coach, she works with start-ups who are new (or who have lost traction) to design, launch and grow their businesses. Along with 20 other expert instructors she teaches strategies in marketing, sales, communications, and finance, as well as practical techniques to increase productivity, and manage their businesses. In other words, everything entrepreneurs need to learn to grow and run their businesses successfully, and avoid the costly mistakes they can't even see coming - that lead to delays in growth and getting stuck.