B.C. eases requirements for struggling businesses applying for support

Changes to the eligibility requirements to the Small and Medium-Sized Business Recovery Grant Programwill allow moresmall businesses and tourism operations devastated by the COVID-19 pandemicto apply for funding.

Ravi Kahlon, the minister of Jobs, Economic Recovery and Innovation, announced Monday thatbusinesses must now show a revenue drop of 30 per cent instead of 50 per cent since March as part of the criteria to qualify forgrantsfrom $10,000 to $30,000.

He saidtourism businesses will now be eligible for up to $45,000 in non-repayable grant funding, and the tourism minister will announce more supports for the sector on Tuesday.

Kahlon saidbusinesses previously had to be operating for three years in order to get funding, but that requirement has been reduced to 18 months. He saidthat means businesses only need to have been in operation for nine months before the pandemic to apply for a grant.

"To own a business during these uncertain times brings challenges that no one could ever have imagined.'' Kahlon said on Monday.

The government has also dropped the requirement for businesses to list some information in the application, including registration numbers for the GST, the provincial sales tax and WorkSafeBC, to make the process easier.

The grant program is meant for businesses that employ between two and 149 residents of B.C.