Alberta’s government is expanding its relaunch grant to help small and medium-sized job creators impacted by new COVID-19 restrictions.
To support Alberta’s small businesses as they adapt to the realities of the ongoing public health crisis, the Alberta government is expanding and increasing the Small and Medium Enterprise Relaunch Grant. With a new lower threshold and increased grant amount, up to 15,000 more businesses may be eligible for funding.
In November, the government announced that Alberta businesses impacted by recent public health orders were eligible to apply for a second payment through the program. This second payment will now be 15% of pre-pandemic monthly revenues up to a maximum of $15,000 – for a total of $20,000 in potential funding available for each business, up from the original $5,000.
This second payment is available to businesses operating in areas on the provincial watch list where new health restrictions have been implemented. Applications for the second payment in areas under enhanced measures will open this month.
Additionally, the program is now expanding to include job creators who have experienced a 30% revenue loss due to the COVID-19 pandemic. This lowers the threshold from the existing requirement of 40 percent revenue loss. The 30 percent threshold will be available to impacted businesses retroactive to March.
“Our small businesses need additional supports, and they need them today – that’s why we’re taking action now to increase the funding available to our local job creators. We’ve tripled our support to get job creators the help they need so we can come out of this pandemic stronger than before. Alberta’s government is here for our small businesses while we protect the lives and livelihoods of all Albertans.” Doug Schweitzer, Minister of Jobs, Economy and Innovation
Businesses can use the funding however they choose to offset the costs they must face as a result of the pandemic restrictions. This includes the costs of implementing measures to prevent the spread of COVID-19, including PPE and cleaning supplies, as well as rent, employee wages, or replacing inventory.
Written by Pat Siedlecki, MyLethbridgeNow.com