The Nova Scotia government is investing $17.2 million more in the Small Business Impact Grant Part 3 program to support small businesses affected by the ongoing provincial COVID-19 restrictions.
The province will top up payments made to all small businesses that qualify under the program by $5,000.
“Through our ongoing consultations with the business community, we recognized the challenges many owners are facing as these necessary additional public health protocols remain in place,” said Inclusive Economic Growth Minister Labi Kousoulis. “Our businesses have been resilient, and our government will continue to be there to support them. By working together, we will slow the spread of COVID-19 so that we are best positioned for recovery.”
Eligible businesses receive 15 per cent of their sales revenue for the month of April 2019 or February 2020, up to a maximum of $5,000.
Businesses must have experienced an average monthly revenue decrease of 30 per cent or more for the period of March 1, 2020, to February 28, 2021, compared to the same period the previous year, or expect at least a 30 per cent decrease in revenues in May 2021 resulting from the new restrictions introduced in April.
For businesses established after Feb. 1, 2020, the program provides a grant calculated as 15 per cent of the sales revenue for any month from April 2020 to March 2021. The applicant can choose the month.
New applications will be processed under the new terms. Business owners can apply at: https://novascotia.ca/coronavirus/small-business-impact-grant/
Businesses are being asked to continue to do everything they can to stop the spread of COVID-19 during the shutdown period, including allowing employees to work from home where possible, ensuring employees stay home if they are feeling unwell, and continuing to operate in the best interest of safety.
This new measure provides an immediate infusion of cash for my business – and it’s certainly going to help. Things have not been easy. The third wave of the pandemic has been much more difficult for business than the previous waves, and a cheque for $5,000 is welcome, especially now that we are locked down for another three weeks.
Sonny Wilson, co-owner, IronMatrix Fitness Studio
We’re a small, locally owned restaurant in Hants County and these latest restrictions have been really tough on our business. This new program will provide us with support to help see us through these latest restrictions.
Melissa Velden, co-owner, Flying Apron Inn and Cookery
This is great news. This additional $5,000 will help pay my rent for June when we hopefully will see restrictions lift - if we all do our part!
Cathy Hope, owner, Lady Luck Boutique
- with the additional $17.2 million, the Small Business Impact Grant Part 3 program, announced May 4, has a total of $29 million in funding
- the program is administered by the province
- small businesses that have already received a grant under this program will automatically receive a $5,000 cheque
- this program is available to restaurants offering in-person dining service; bars and other licensed drinking establishments; fitness, recreational and leisure facilities including gyms, yoga studios, indoor play areas, arcades, climbing facilities, dance programs and music lessons; personal services businesses including hair salons, barber shops, spas, nail salons and body art establishments; independent retailers with a physical retail location; and live performing arts organizations
More information can be found at: https://novascotia.ca/coronavirus/support/#support-for-business