Ontario small businesses have been hit hard by the pandemic, but the provincial government has been working hard to provide support for struggling companies. As part of their Economic Recover Plan, they have announced the Ontario Small Business Support Grant. This grant is designed to provide small businesses with up to $20,000 in financial support to help them recover from the effects of COVID-19. If you’re a small business owner in Ontario, here are some top tips for applying for the Support Grant.
1. Check your eligibility
Before applying for the Support Grant, be sure to check your eligibility. To be eligible for the grant, your business must have been affected by the COVID-19 pandemic and be in one of the following categories:
– Be required to close or restrict services due to provincial public health measures
– Have significant restrictions on indoor capacity due to public health orders
– Require an eligible workplace to close or significantly restrict operations due to COVID-19 outbreaks and closures
Be sure to carefully review the eligibility criteria to ensure your business qualifies before starting the application process.
2. Prepare your documents
As part of the application process, you’ll need to provide documents to support your eligibility and application. These documents may include:
– Proof of your business’s legal name and the name it operates under
– Proof of business ownership and registration
– Business bank statements and transactions
– Other financial statements, such as income statements and balance sheets
– Proof of eligible expenses incurred since March 17, 2020
– Any other documents required by the application form
Ensure all documents are accurate and up-to-date, and keep copies in case you need them for any future inquiries.
3. Fill out the application carefully
The application process for the Support Grant is entirely online. Take your time and fill out the application carefully, ensuring that all the information you provide is accurate and up-to-date. Some key items to consider include:
– Ensuring that all information is entered into the correct fields and sections of the application
– Providing accurate information and documentation to support your business’s eligibility and expenses
– Checking the application for errors and oversights before submitting
Be sure to double-check your application to avoid delays or rejections.
4. Be patient
Once you submit your application for the Support Grant, it will be reviewed by the government. This process may take some time due to the number of applications being received, so be patient. Check the status of your application periodically, and be prepared to provide additional information or documentation if required.
5. Use the grant wisely
If your application for the Support Grant is approved, ensure you use the funds wisely. The grant is designed to support your business’s recovery from the effects of the pandemic, such as paying bills, rent, or mortgage payments, or purchasing personal protective equipment. Keep accurate records of how the funds are used and when they are spent.
In conclusion, the Ontario Small Business Support Grant is a vital lifeline for small businesses struggling due to the COVID-19 pandemic. By following these tips, you can ensure that your application for the grant is well-prepared, accurately filled out and has the best chance of being approved. Good luck!
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