Financial Support for Businesses Affected by the Latest Closures
The Ontario Government Announces Supports for Small Businesses, Workers and Families
As part of their plan, the government is introducing a $10,000 grant for eligible businesses that are subject to closures under the modified Step Two of the Roadmap to Reopen and is providing additional electricity-rate relief for businesses, as well as workers and families spending more time at home.
$10,000 Small Business Relief Grant
Businesses eligible for the Ontario COVID-19 Small Business Relief Grant for 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 qualified for the Ontario Small Business Support Grant and that 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.
Support for Employed and Self-Employed Individuals
The Canada Recovery Caregiving Benefit (CRCB) provides income support if you’re unable to work because you must take care of your children under 12, or a family member who requires supervised care, as a result of closures or lack of caregiver availability. If deemed eligible, your household can receive $500 ($450 after taxes withheld) for each 1-week period.
The Canada Recovery Sickness Benefit (CRSB) provides up to 6 weeks of income support if you’re unable to work because you’re sick, are required to isolate due to Covid-19 or if you have an underlying health condition that puts you at greater risk of getting Covid-19. If deemed eligible, your household can receive $500 ($450 after taxes withheld) for each 1-week period.
The Canada Worker Lockdown Benefit (CWLB) provides income support to workers unable to work due to a regional Covid-19 lockdown. If deemed eligible you can receive $300 ($270 after taxes withheld) for each 1-week period. This program has been temporarily expanded to include workers in regions where:
- Provincial or territorial governments have introduced capacity-limiting restrictions of 50 percent or more and
- Lost 50 percent or more of their income as a result of Covid-19 related lockdowns.
EI benefits for self-employed people can provide you with access to special benefits as early as 12 months after registering if you have your own business or control more than 40% of your corporation’s voting shares.
Support for Businesses
The Tourism and Hospitality Recovery Program (THRP) provides select tourism and hospitality organizations, with a rent or wage subsidy rate of up to 75 percent. Eligible organizations may qualify for this program if they:
- Are part of the tourism, hospitality, arts, entertainment, or recreation sectors, or
- Are affected by a qualifying public health restriction, and
- Have a claim period revenue drop of at least 40%
The Hardest-Hit Business Recovery Program (HHBRP) provides support through the wage and rent subsidies to other businesses, regardless of the sector, that do not qualify for the Tourism and Hospitality Recovery Program and that have faced severe losses with a subsidy of up to 50 percent. Eligible organizations are required to meet the following two conditions to qualify for this program:
- An average monthly revenue reduction of at least 50 percent over the first 13 qualifying periods for the Canada Emergency Wage Subsidy (12-month revenue decline); and
- A current-month revenue loss of at least 50 percent.
The Canada Recovery Hiring Program (CRHP) provides eligible employers with current revenue losses above 10 percent with an increased subsidy rate of 50 percent. This will help businesses continue to hire back workers, increase hours and create more jobs.
The Local Lockdown Program provides businesses, charities and non-for profits that face temporary local lockdowns with a subsidy of up to 75 percent and has temporarily reduced the current-month revenue decline threshold from 40 percent to 25 percent. The government is temporarily expanding this program such that a business can now also qualify if:
- One or more of its locations is subject to a public health order that has the effect of reducing the entity’s capacity at the location by 50 percent or more, and
- Activities restricted by the public health order accounted for at least 50 percent of the entity’s total qualifying revenues during the prior reference period.
The Work-Sharing Program – COVID-19 helps employers and employees avoid layoffs when there is a temporary decrease in business activity beyond the control of the employer. The program provides Employment Insurance (EI) benefits to eligible employees who agree to reduce their normal working hours and share the available work while their employer recovers.
HASCAP Canada provides businesses heavily impacted by Covid-19 who have had their revenues decrease by 50 percent or more, with access to guaranteed, low-interest loans.
Please use the Business Benefits Finder to access a tailored list of government programs and services for you or your business.
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