Small business operators could receive up to $5,000 to help cover COVID-19-related expenditures from a new round of grants channelled through the Canada United Small Business Relief Fund. Online applications will be accepted beginning October 26 for the allocation of the $12-million funding injection Mary Ng, federal Minister of Small Business and Export Promotion announced yesterday.
Grants are to be used for physical modifications to comply with public health requirements, personal protective equipment or upgrading digital/e-commerce capabilities. To qualify, small businesses must be registered in Canada, record between $150,000 and $3 million in annual sales and employ no more than 75 people.
The Ontario Chamber of Commerce will administer the fund, as part of its ongoing affiliation with the Canada United initiative, launched by RBC to promote local shopping and dining. More than 70 Canadian businesses and organizations, including the national network of Chambers of Commerce and Boards of Trade, have joined the effort.
“The Canada United Small Business Relief Fund is helping our small businesses offset the cost required to reopen safely or adopt digital technologies to move more of their business online at a time when they need it most,” says Perrin Beatty, president and chief executive officer of the Canadian Chamber of Commerce.
“With the federal government’s support, we are confident that the Small Business Relief Fund will make a significant difference in helping businesses prepare for the road ahead,” concurs Neil McLaughlin, RBC’s group head, personal and commercial banking.