The Ontario Small Business Support Grant has been a major relief measure for small businesses in Ontario, providing much-needed financial assistance to help businesses through the ongoing pandemic. This grant is specifically designed to offer support to small businesses that were severely affected by COVID-19.
If you are a small business owner in Ontario, applying for this grant could be the difference between staying open or closing down for good. In this article, we will take you through the step-by-step process of applying for the Ontario Small Business Support Grant, so you can have a better understanding of the application process and increase your chances of being approved.
Step 1: Check If You’re Eligible
Before applying for any grant, it’s always essential to check if you meet the eligibility criteria. To be eligible for the Ontario Small Business Support Grant, your business must have experienced at least a 20% decline in revenue in April 2020 when compared to April 2019. Additionally, your business must have fewer than 100 employees and must have been registered and operational on or before April 30, 2020.
Step 2: Gather Required Documents
Once you’ve verified your eligibility, the next step is to gather all the necessary documents to apply for the grant. This includes:
– Your business’s most recent bank statements
– Tax returns for 2019 or receipts and invoices from 2019
– A letter from an accountant or bookkeeper (optional)
– Articles of Incorporation or Proof of Registration
– Active Business Number (BN) and associated programme accounts
Step 3: Complete the Online Application
The application for the Ontario Small Business Support Grant is available online, and it is straightforward to complete. You’ll need to provide some standard information about yourself and your business, such as the business’s name, address, business number, and contact information. You’ll also need to include information about your revenue and expenses to support the 20% decline from April 2019 to April 2020.
Step 4: Wait for Approval
Once the application has been submitted, you will receive an email confirming your application has been received. You will be notified of the outcome of your application within ten business days, and if your application is approved, the grant money will be deposited into your business bank account within ten business days after approval notification.
Conclusion
The Ontario Small Business Support Grant is a great initiative by the government to support small businesses affected by the pandemic. If you are eligible for the grant, don’t hesitate to fill out the application with all the necessary documents. Remember to double-check all the information before submission to avoid delays or rejection. With this guide, we hope you can successfully apply for the grant and continue to keep your business afloat during these challenging times.
