Alberta announces more COVID-19 support for small businesses
An open sign hanging on a door. (Kevin Bidwell, pexels.com)
The Alberta government is offering additional financial aid to small businesses in the province.
The province has put aside $120 million for the Enhanced COVID-19 Business Benefit which is open to small and medium-sized businesses that have been affected by the pandemic and ongoing health restrictions. Businesses can now access another $10,000 to offset costs for buying personal protective equipment and cleaning supplies, paying rent, hiring staff and expand their online presence.
Businesses will have to show that their revenue has been reduced by 60 per cent or more and have fewer than 500 employees to be eligible. The province says more details on the parameters for funding will be available closer to when applications open in April. Business-owners will not have to repay the province for the funding.
“We’ve heard the calls for more support and today we are providing even more funding for Alberta job creators to help them deal with the devastating impacts of COVID-19,” says Premier Jason Kenney. “We will continue to be there for Albertans, protecting lives and livelihoods with support measures just like this.”
Businesses who applied for the Small and Medium Enterprise Grant can also apply for the new funding. They will be required to report the total amount of provincial and federal support received and ensure no more than 80 per cent of revenue is covered. Additional federal supports are also available for business-owners.