The provincial government has announced a province-wide lockdown beginning at 12:01 Boxing Day (December 26, 2020)
What does that mean for businesses?
The new Ontario Small Business Support Grant
The government is announcing the new Ontario Small Business Support Grant, which will provide a minimum of $10,000 and up to $20,000 to eligible small business owners to help navigate this challenging period. Small businesses required to close or restrict services under the Provincewide Shutdown will be able to apply for this one-time grant.
Eligible small businesses include those that:
- Are required to close or significantly restrict services subject to the Provincewide Shutdown effective 12:01 a.m. on December 26, 2020;
- Have less than 100 employees at the enterprise level; and
- Have experienced a minimum of 20 per cent revenue decline in April 2020 compared to April 2019.
- Further details, including how to apply, will be announced in January 2021.