During Small Business Week, the Honourable Andrew Parsons, Minister of Industry, Energy and Technology, and the Honourable Siobhan Coady, Deputy Premier and Minister of Finance announced details of the $30 million Small Business Assistance Program which was highlighted in Budget 2020. The program includes $25 million for eligible small businesses and $5 million for eligible community organizations.
The program complements this year’s theme of Small Business Week in Canada which recognizes entrepreneurial resilience in uncertain times. Through the program, small businesses can avail of financial support help them deal with the impact of the COVID-19 pandemic, such as revenue losses and increased costs associated with adapting their businesses including physical space, online sales innovation and increased costs of health and safety protocols. It also provides funds to eligible community organizations for similar issues they are experiencing in light of the pandemic.
Program details, eligibility requirements and information on the application process are available here.
The program is available on a first come, first served basis with a closing date of December 15, 2020 or earlier if all funds are exhausted.
Quotes
“We have been looking at creative solutions to help businesses in our province at this exceptional time. Our Small Business Assistance Program will provide needed support so our small businesses and community organizations can continue to strengthen and diversify our economy.”
Honourable Andrew Parsons
Minister of Industry, Energy and Technology
“We know that 2020 has been a challenging year for businesses dealing with the COVID-19 pandemic. The Small Business Assistance Program will help offset the additional expenses these businesses incurred and the innovative changes businesses made to manage through the pandemic.”
Honourable Siobhan Coady
Deputy Premier and Minister of Finance
“The St. John’s Board of Trade is delighted with the investment our Provincial Government is making in the business community. 2020 has been a devastating year for businesses and it’s encouraging to see our government recognize this and the value small and medium sized businesses bring to our economy. This support demonstrates an appreciation of just how tough it has been for businesses this year.”
Andrew Wadden
Chair, St. John’s Board of Trade
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Learn more
Budget 2020: Today. Tomorrow. Together
Small Business Assistance Program
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Media contacts
Lisa Lawlor
Industry, Energy and Technology
709-729-5777, 631-8155
Lisalawlor@gov.nl.ca
Marc Budgell
Finance
709-729-2477, 689-0430
marcbudgell@gov.nl.ca
AnnMarie Boudreau
St. John’s Board of Trade
709-765-5908
aboudreau@bot.nf.ca