New Financial Business Supports
Ontario COVID-19 Small Business Relief Grant
The government is announcing an Ontario COVID-19 Small Business Relief Grant for small businesses that are subject to closure under the modified Step Two of Roadmap to Reopen.
What you’ll get:
Eligible businesses subject to closures as a result of the province’s move to the modified Step Two of the Roadmap to Reopen will receive a grant of $10,000.
Eligible small businesses include:
- Restaurants and bars;
- Facilities for indoor sports and recreational fitness activities (including fitness centres and gyms);
- Performing arts and cinemas;
- Museums, galleries, aquariums, zoos, science centres, landmarks, historic sites, botanical gardens and similar attractions;
- Meeting or event spaces;
- Tour and guide services;
- Conference centres and convention centres;
- Driving instruction for individuals; and
- Before- and after-school programs.
Eligible businesses that previously qualified for the Ontario Small Business Support Grant and are subject to closure under modified Step Two of the Roadmap to Reopen will be pre-screened to verify eligibility and will not need to apply to the new program.
Newly established and newly eligible small businesses will need to apply once the application portal opens in the coming weeks. Small businesses that qualify can expect to receive their payment in February.
Ontario Business Costs Rebate Program
For 21 days starting at 12:01 am on Tuesday, January 18, 2022, electricity prices will be set 24 hours a day at the current off-peak rate of 8.2 cents per kilowatt-hour. The off-peak rate will apply automatically to residential, small businesses and farms who pay regulated rates set by the Ontario Energy Board and get a bill from a utility and will benefit customers on both Time-of-Use and Tiered rate plans.
Online applications for the previously announced Ontario Business Costs Rebate Program will open on January 18. This program will provide eligible businesses required to close or reduce capacity with rebate payments for up to 100 percent of the property tax and energy costs they incur while subject to public health measures in response to the Omicron variant.
For more details, please find the government’s press release here.
Federal Supports – Wage and Rent Subsidies
The Government of Canada continues to offer targeted support for businesses and self-employed individuals facing hardship due to the COVID-19 pandemic. These include rent and property expenses support, wage and hiring support; Large Employer Emergency Financing Facility; Canada Worker Lockdown Benefit and more. See the supports available for businesses, self-employed individuals and sectors.
$7,500 Commercial & Industrial Property Improvement Grant Program
The Commercial and Industrial Property Improvement Program is available to owners and tenants of commercial and industrial properties in Toronto to improve the appearance and function of exterior spaces associated with the property – inc. patios.
Grants cover one-half of the costs of eligible property or site improvements up to a maximum amount of $5,000 (based on a minimum of $10,000 of improvements). Funding can include patio improvements on private property and spaces on public property for which a valid permit has been issued – such as CafeTO patios. Additional grant funding of up to $2,500 is available for exterior accessibility improvements such as installing ramps, handrails, and other accessibility devices that meet Accessibility for Ontarians with Disabilities Act (AODA) design standards.
Eligible applicants may apply by completing the application form below along with additional required documentation identified in the form and emailing it to Michael Saunders, Economic Partnership Advisor michael.saunders@toronto.ca on or before June 30, 2022, or before funds are expended, whichever comes first. See here for more information and to apply.
