While not getting as much as attention as the province-wide lockdown which started on December 26, the Ontario Small Business Support Grant (OSBGS) is also a significant component of the Province’s shut down announcement. The Ontario small business grant will provide eligible businesses with 10,000 up to a maximum of 20,000 to help recover decreased revenue, because of the shutdown.
To be eligible, 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. Contact OpenGate CPA to help you with the revenue decrease calculation and the application.
Newer small businesses that were not in operation in April 2019 or April 2020 will be able to select alternative months for comparing revenue decline. The application will compare your highest month of sales and compare it with December 2020. Contact OpenGate CPA to help you with the revenue decrease calculation and the application.
In addition, eligible businesses can receive grants to help with the cost of personal protective equipment, property taxes, energy bills and extra support if they have to close or significantly restrict services because of provincial public health measures. Contact OpenGate CPA to review your eligibility for the Ontario's Main Street Relief Grant & Property tax and energy cost rebates.
If your business's revenue was significantly impacted by the Provincewide Shutdown, then you may be eligible for the new grant.
We can help by applying for the grant on your behalf (FREE OF CHARGE). Book a Free consultation.