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Funding, Grants, and Programs

Below are some resources to help your business during and after the COVID-19 pandemic. This page will be updated as different regional/provincial programs are introduced. View more general business development resources and organizations here.

Last updated: June 09, 2021

GRANTS

Launch Online Grant Program - Province of BC

Deadline to Apply: Applications will be accepted until September 30, 2021 or until fully expended, whichever comes first. 

As of March 17, 2021 the BC Government has invested an additional 30 million into this program to assist more businesses. 

The Launch Online Grant will pay for up to 75% of eligible expenses, up to a maximum of $7,500 per business.  The program supports a rapid response for businesses and is accepting applications from businesses ready to start and finish their online shop within 12 weeks.  Up to 30% of funds will be reserved for Black, Indigenous and people of colour-owned (BIPOC) businesses and rural businesses. 

Learn more here.

Small and Medium Sized Business Recovery Grant - Province of BC

Deadline to Apply: July 02, 2021

Businesses that applied prior to the changes made on March 04, 2021 and did not qualify previously do not need to reapply and will have their application re-evaluated automatically. 

The Small and Medium-Sized Business Recovery Grant program provides fully-funded, non-repayable grants to businesses to ensure they have the support they need during and beyond COVID-19.

This is a two-step program:

Step 1: Businesses Apply Online

Step 2: Eligible Businesses Develop Recovery Plan

Before applying, be sure to check the eligibility requirements and ensure you have all your documents ready. There have been many eligibility requirements to the program including:

Businesses have been in operation for the last 18 months (previously was 3 years)

Businesses with no staff (such as sole proprietor) are eligible

Show a 30% loss (previously 70%) in revenue from March 2020 until now, when compared to the same one-month period in 2019.

Temporarily closed or seasonal businesses are now eligible

Business recovery plans can include a large number of funded activities that help your business's adaptation and recovery due to COVID-19. These activities could include examples such as:

Provide new services to customers

Modify business location

Support to move online

Hiring marketing services for advertising and marketing

Expanding to a new customer base

Purchase of new equipment

Pay for rent, lease, or other fixed costs

Learn more here.

FUNDING + LOANS

Canada Emergency Business Account (CEBA)

Deadline to Apply: June 30, 2021

This $55 billion program provides interest-free loans of up to $60,000 to small businesses and not-for-profits. Repaying the balance of the loan on or before December 31, 2022, will result in loan forgiveness of 33% (up to $20,000).

Learn more here.

Canada Emergency Rent Subsidy (CERS)

Canadian businesses, non-profit organizations, or charities who have seen a drop in revenue during the COVID-19 pandemic may be eligible for a subsidy to cover part of their commercial rent or property expenses, starting on September 27, 2020, until June 2021.

This subsidy will provide payments directly to qualifying renters and property owners, without requiring landlord participation. 

Learn more here.

Canadian Emergency Wage Subsidy (CEWS)

As a Canadian employer who has seen a drop in revenue during the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages, retroactive to March 15, 2020. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease your business back into normal operations.

Learn more here. 

Highly Affected Sectors Credit Availability Program (HASCAP)

HASCAP is available at participating financial institutions until December 31, 2021.

This is a loan program for small and medium-sized businesses that have seen their revenues decrease by 50% or more as a result of Covid-19. Eligible businesses can apply for a loan between $25,000 and $1 million to ensure continuity of their business through the pandemic by covering operation cash flow needs.

Learn more here.

Work BC Wage Subsidy

The WorkBC Wage Subsidy program covers a part of employee wages so employers can hire job seekers and provide work opportunities. Both unemployed individuals and employers in B.C. can benefit from WorkBC Wage Subsidy.

The WorkBC Wage Subsidy program covers a part of employee wages so employers can hire job seekers and provide work opportunities. Both unemployed individuals and employers in B.C. can benefit from WorkBC Wage Subsidy.

Learn more here. 

TRAINING + PROGRAMS

Community Futures - Taking Care of Business

Taking Care of Business is a program offered through Community Futures providing funding for training and one-on-one support for businesses in the Community Futures Sun Country region. With your free membership, your business team will have to access to free online workshops, webinars, and professional business support.

Learn more here. 

Consulting Hive

The Consulting Hive (brought by Community Futures) is a network of BC-based business consultants, advisors, and specialists whose services are free of charge until March 2022 (previously was March 31, 2021). Whether you’re looking for Covid-19 support, general business advising, or business transition support, the Consulting Hive has experts that can help.

Read more here.

Innovate BC - DER3 Program

In response to the economic impact of the COVID-19 pandemic, Innovate BC is pleased to offer the Digital Economy: Rapid Response + Resiliency Program (DER3) to support small-medium sized businesses, in any sector, to enter or expand in the digital economy.

The program will offer personalized advisory services, resource materials, best practices and tools needed to increase business capacity, and connections to vetter digital service providers and subject matter experts.

Learn more here. 

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