Supporting Small Businesses and Community Organizations

  • Industry, Energy and Technology

October 13, 2021

Businesses and community organizations in Newfoundland and Labrador have been impacted by the COVID-19 pandemic. To help strengthen and support these organizations, the Provincial Government is providing details of a new $20 million Small Business Assistance Program.

The Honourable Andrew Parsons, Minister of Industry, Energy and Technology, along with the Honourable Siobhan Coady, Deputy Premier and Minister of Finance, made the announcement today.

Highlighted in Budget 2021, the Small Business Assistance Program will provide financial relief to eligible businesses and organizations impacted by the pandemic with a one-time, non-repayable contribution as outlined in the eligibility guidelines.

In 2020-21, over 4,000 businesses and community organizations received approval for assistance under a previous program. One of the main changes for the new program is expanding the criteria to include start-up firms, which were registered as companies in 2019, 2020 and 2021.

Program details, eligibility requirements and information on the application process are available here: www.gov.nl.ca/iet/small-business-assistance-program/.

Support is available on a first come, first served basis with a closing date of December 15, 2021 or earlier if all funds are exhausted.

Quotes
“As small businesses and community organizations in many sectors recover from the challenges of operating during a pandemic, this program will provide some much needed financial assistance. Updating the eligibility criteria to include start-up firms in our province demonstrates a commitment to new small businesses as they begin their operations. The Small Business Assistance Program is pivotal to new and existing companies and community organizations, and will play a role in Newfoundland and Labrador’s economic recovery.”
Honourable Andrew Parsons
Minister of Industry, Energy and Technology

“Small, local businesses and community organizations are the heart of our communities. The Small Business Assistance Program is this government’s commitment to assist with increased costs and losses as a result of COVID-19. As we emerge from the pandemic, let’s support businesses throughout Newfoundland and Labrador by eating, shopping and buying local.”
Honourable Siobhan Coady
Deputy Premier and Minister of Finance

“Small businesses are critical to economic growth and recovery. The Gander and Area Chamber of Commerce is encouraged to see continued support and further assistance come from government programs.”
Hannah de Young
Chair, Gander and Area Chamber of Commerce

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Learn more
Small Business Assistance Program

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Media contacts
Eric Humber
Industry, Energy and Technology
709-729-5777, 725-9655
erichumber@gov.nl.ca

Diana Quinton
Finance
709-729-2477, 697-1566
dianaquinton@gov.nl.ca

Hannah de Young
Gander and Area Chamber of Commerce
709-690-3146

2021 10 13 12:05 pm