Businesses can now apply for BC recovery grant with only 30% revenue reduction

Dec 21 2020, 6:33 pm

BC has made it easier for businesses to apply for pandemic relief funding in a series of changes to the Small and Medium-Sized Business Recovery Grant program announced Monday.

Businesses will now be able to apply if they have a 30% reduction in revenue year over year at the time of application. That’s down from the previous requirement of 50%.

BC is also allowing newer businesses to apply for the grants. Shops and services that have been operating for 18 months are now eligible, down from three years previously.

Businesses also don’t need to provide certain remittance account information that they needed to before.

“For many of you [the grants] will serve as a lifeline right now,” BC’s Minister of Jobs, Economic Recovery and Innovation Ravi Kahlon said at a news conference.

Officials have also added new considerations for seasonal businesses and tourism businesses impacted by the pandemic.

The newly revised application is now available online.

Businesses that already applied do not need to re-apply: their application will be considered using the updated criteria.

Megan DevlinMegan Devlin

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