In ongoing consultation with the BC Government, the Surrey Board of Trade is pleased that the BC Small and Medium Sized Business Recovery Grant has been extended until the end of August and that revenue requirements have been decreased to 30% from 70%.
“These changes are welcome and will provide greater support to the business community,” said Anita Huberman, CEO of the Surrey Board of Trade. “The grant needs to be accessed by the art, culture, events sector. We need more businesses to apply and flexibility in application processes for those hardest hit businesses if they don’t meet any of the requirements.”
The time to apply for the Small and Medium Sized Business Recovery Grant program has been extended from March 31, 2021, to August 31, 2021.
Now, a business is required to demonstrate only a 30% revenue loss in any one month between March 2020 to the point of application.
The $345-million Small and Medium Sized Business Recovery Grant program provides fully funded grants to businesses that employ up to 149 BC residents. Grants of $10,000 to a maximum of $30,000 are available, with up to an additional $5,000 to $15,000 available to tourism-related businesses.
As part of the application process, an applicant is required to develop a business recovery plan.
Approved professional service providers are available to help with the application process, including recovery plan support, up to $2,000 per small- or medium-sized business. This amount is paid directly to the provider.
Interpretation services available: 1 833 254-4357 or email: BusinessRecoveryGrantProgram@gov.bc.ca