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Small Business Supports


  • By Cory Crossman


ShArE


Small Business Supports

In response to the recent Modified Step Two of the Roadmap to Reopen, the Ontario Government has created the Ontario COVID-19 Small Business Relief Grant.  

 

Who gets it? Business with less than 100 employees ordered to close indoor operations (Jan 5) 

How much do they get: $10,000

When can businesses apply?: Qualified OSBSG recipients: pre-screened late-January. New applicatns open early Febraury. 

How soon could they see the money? Qualified OSBSG recipients: early February. New applicants: two weeks after approval (late-February).

Ontario will offer flat-rate grants $10,000 to eligible small business owners impacted by the province's move to a modified Step Two of the Roadmap to Reopen.

Examples of eligible small business types include: Restaurants and bars, meeting or event spaces, performing arts and cinemas among others.

Expanding Rebates for Property Tax and Energy Costs

The Ontario Busines Costs Rebate Program was announced on December 22, 2021. Under the program, eligible businesses were to receive rebate payments equivalent to 50% of the property tax and energy costs they incur while subject to the capacity limits at the time.

To support businesses that are most impacted by provincial public health measures, the government is expanding the new Ontario Business Costs Rebate Program (OBCRP).

The new OBCRP program will support eligible businesses that are required to close or reduce capacity due to recently announced public health measures.

o Eligible businesses will receive rebate payments for a portion of the property tax and energy costs they incur while subject to capacity limits. The rebate amount will be 50% up to 100% of these costs depending on the degree to which the business is subject to public health restrictions.
o Eligible businesses required to reduce capacity to 50%, such as smaller retail stores, will receive a
rebate payment equivalent to 50% of their property tax and energy costs.
o Eligible businesses required to close for indoor activities, such as restaurants and gyms, will receive a rebate payment equivalent to 100% of their costs.

Cash-flow Supports for Businesses Through Tax Deferrals
Six month Interest and Penalty free Period

Effective January 1, 2022, the province is also providing additional support to help improve cash flows for Ontario businesses by providing a six month interest and penalty free period to make payments for most provincially administered taxes. Businesses have the option to delay payments on the following provincial taxes: Employer Health Tax, Beer, Wine & Spirits Taxes, Insurance Premium Tax and Retail Sales Tax on Insurance Contracts & Benefit Plans.

Ministry of Heritage, Sport, Tourism and Culture Industries Grants

The $20M Reconnect Ontario 2022 supports festivals and events that have a tourism economic impact and motivate visitors to rediscover Ontario, reconnect people with local experiences and increase tourism spending. The application window is open, and applications are due by February 2, 2022.

The Ontario Tourism Recovery Program (OTRP) supports eligible Ontario based, tourism businesses in the for profit attractions and accommodations sectors that have been hardest hit by COVID 19. OTRP is a competitive, application based grant program supporting private sector tourism businesses that are significant drivers to their regional tourism economies. The application window is now closed and funding notifications are expected in the coming weeks.
 



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