The Honourable Andrew Parsons, Minister of Industry, Energy and Technology, today, provided an update on 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.
Since details were announced on October 22, the department of Industry, Energy and Technology has received more than 1,350 applications, with more than 750 small businesses and community organizations approved so far. The funds will help them deal with the impact of the COVID-19 pandemic such as revenue losses and increased costs associated with adapting businesses and enhanced health and safety protocols.
Program details, eligibility requirements and information on the application process are available online.
The program is still available on a first come, first served basis with a closing date of December 15, 2020 or earlier if all funds are exhausted.
Quote
“The uptake for our Small Business Assistance Program thus far is incredible and evidence that the supports we have developed in the province are needed. We have been focused on helping small businesses and community organizations so they can continue to do what they do throughout our economy. The deadline is fast approaching – I encourage business and community organizations to apply to see if they are eligible to benefit from the assistance offered through this program.
Honourable Andrew Parsons
Minister of Industry, Energy and Technology
– 30 –
Learn more
Small Business Assistance Program
Budget 2020: Today. Tomorrow. Together
Follow us on Twitter @GovNL and @IET_GovNL
Media contact
Lisa Lawlor
Industry, Energy and Technology
709-729-5777, 631-8155
lisalawlor@gov.nl.ca