Thursday, May 9, 2024

Small Business Government Assistance Programs

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I Want To Start My Own Business

Government Funding Programs For Small Businesses in Ontario

Starting a small business is an exciting opportunity, but it is not easy. It requires good financial management practices such as sufficient capital, not using business funds for personal use, managing costs and anticipating rising costs. Statistics show that only one third of small businesses succeed through the first three years of operation but there is support available to you to maximise your chances of success.

New Business Assistance With Neis

If you have an idea for starting your own small business, you may be eligible for New Business Assistance with NEIS.

New Business Assistance with NEIS provides individualised support to help you become a self-employed business owner. New Business Assistance can help by providing:

  • Accredited small business training
  • Personalised mentoring and support from a NEIS provider in the first year of the new business to help the individual put their business idea into practice and
  • NEIS Allowance for up to 39 weeks and NEIS Rental Assistance for up to 26 weeks .

There are 8,600 NEIS places available nationally each financial year, delivered by a network of 21 providers.

For more information, you can directly approach a NEIS provider located in your area. You can find your local NEIS provider on the Find a Provider page on the jobactive website. You can also:

  • Talk to your jobactive, ParentsNext or Disability Employment Services provider
  • Call the Employment Services Information Line on

What Do I Need To Apply

To complete the application, be prepared to provide detailed business information and supporting documentation:

  • business registration number and date of incorporation
  • description of the business operations
  • business information
  • detailed information on the estimated costs of the proposed project
  • detailed description of the project and how it will benefit the business and
  • if the application concerns a study, please provide the consultants proposal and the studys terms of reference .

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How To Get Started

Go to the Open Counter Business Portal to learn which permits you’ll need for new small business construction projects and predict fees.

Book an appointment to meet virtually with a representative to address your questions and review your project ideas before applying for a permit or submitting for a new permit.

What Activities And Costs Are Supported

Small Business Administration (SBA) Loans Immediately ...

An eligible small business can access support for eligible costs related to:

  • Professional fees, to a maximum of $2,500 in eligible costs, for a business plan or market research.
  • Professional fees, to a maximum of $5,000 in eligible costs, for projects related to operational efficiencies, internal planning or processes, and quality assurance.
  • Examples of eligible projects include :
  • plan to integrate tools for communications, transactions, operations, and management, such as IT, project management, and systems integration services and solutions
  • a Human Resource plan and the creation of policies and procedures for ongoing implementation or
  • work flow studies, production and/or logistics planning.

To be considered a new small business, a business must apply within the first twelve months of operation, as indicated by the date of the initial business registration. An eligible new small business can access one-time support for additional eligible project costs related to:

The purchase of capital equipment is excluded support may be available through the Small Business Investment Grant .

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Economic Injury Disaster Loans

An Economic Injury Disaster Loan helps small businesses and nonprofits that are losing money during the coronavirus pandemic and that need funds for financial obligations and operating expenses.

SBA is accepting applications for EIDLs until December 31, 2021.

Small Business Assistance Program 2021

The Small Business Assistance Program is a short-term program offered by the Department of Industry, Energy and Technology to assist eligible small businesses and non-profit community organizations that experienced revenue losses, increased costs of health and safety protocols and business adaptations due to the COVID-19 pandemic.

Small Businesses:

Eligible small businesses can apply for a non-repayable contribution of $2,500, $5,000, $7,500 or $10,000 based on eligibility criteria and guidelines.

Non-Profit Community Organizations:

Eligible non-profit community organizations can apply for a non-repayable contribution of $5,000 or $10,000 based on eligibility criteria and guidelines.

Please note: Application deadline for the Small Business Assistance Program is December 15, 2021 .

Required Information and Documentation

To complete the application, the following information is required:

To complete the application, the following documentation is required:

For Existing Businesses

  • Void Cheque or Direct Deposit Form
  • Government-issued identification
  • Please provide a picture of a government-issued identification for the person completing this application.
  • 2019 and 2020 profit/loss or income/expense statements or official tax return statement of business activities
  • Where prepared financial statements are not yet available, in-house generated statements for the same time period may be accepted.
  • For Start-Up Businesses

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    Flexibility For Businesses Filing Taxes

    Local Assistance for Your Small Business

    The Canada Revenue Agency will allow all businesses to defer, until August 31, 2020, the payment of any income tax amounts that become owing on or after today and before September 2020. This relief would apply to tax balances due, as well as instalments, under Part I of the Income Tax Act. No interest or penalties will accumulate on these amounts during this period.

    The Canada Revenue Agency will not contact any small or medium businesses to initiate any post assessment GST/HST or Income Tax audits for the next four weeks. For the vast majority of businesses, the Canada Revenue Agency will temporarily suspend audit interaction with taxpayers and representatives.

    The Liaison Officer service offers help to owners of small businesses to understand their tax obligations. Traditionally available in-person, this service is now available over the phone and will be customizing information during these challenging times by ensuring small businesses are aware of any changes such as filing and payment deadlines, proactive relief measures, etc.

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    Natural Resource Sales Assistance Program

    In addition to the billions of dollars spent purchasing goods and services, the federal government also sells large amounts of natural resources and surplus property. The SBA Natural Resource Sales Assistance Program sets aside a percentage of these goods for bidding by small businesses only. In addition, federal agencies sometimes divide surplus materials into smaller parcels, making it easier for small businesses to purchase. The five categories are:

    • Timber and related forest products.
    • Strategic materials.
    • Leases involving rights to minerals, coil, oil and gas.
    • Surplus real and personal property.

    The program also provides training for small businesses on government sales and leasing.

    State And Regional Small

    Economic Development Administration: This U.S. Department of Commerce agency provides grants, resources and technical assistance to communities to support economic growth and encourage entrepreneurship and innovation.

    Each states agency helps businesses find financing , secure locations and recruit employees. You can search the economic development directory for regional offices and local resources.

    Small Business Development Centers: Your local SBDC provides support for small businesses and aspiring entrepreneurs. Theyre often associated with local universities or the states economic development agency, and many can help connect business owners with financing opportunities, as well as counseling, training and technical assistance.

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    Local And State Government Assistance Programs For Small Businesses Impacted By Covid

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    The worldwide COVID-19 outbreak is an evolving, uncertain situation. For small business owners, this is an especially challenging time. Fortunately, various local and state government agencies are announcing assistance programs for small businesses during the economic slowdown. For more information on federal government assistance programs, check out our COVID-19 resource hub.

    Keep reading for a breakdown of the different programs at a local and state level. This article will be updated regularly, as more assistance programs are announced every day. The Chamber of Commerce has also put together a useful guide to small business aid available by state for more information.

    If you are looking for more information on Paycheck Protection Program loans, check out our guides to PPP loan forgiveness and the Paycheck Protection Program Flexibility Act.

    Eidl Loans And Grants

    What You Should Know About Small Business Administration ...

    In addition to the Paycheck Protection Program, the CARES Act provides relief to small businesses through SBAs EIDL program, which traditionally provides operational liquidity to small businesses in disaster areas. EIDL Emergency Advance will provide an immediate advance of up to $10,000 grants to eligible businesses, which will not have to be repaid. These changes are in effect through the end of 2020.

    The SBA has resumed accepting new EIDL and EIDL Advance applications.

    Things to Know About EIDL Loans and Grants

    Program Eligibility

    The CARES Act expands eligibility for EIDL to businesses, private nonprofits, and cooperatives with fewer than 500 employees, as well as small businesses currently recognized by SBA. Sole proprietors, independent contractors, and some other self-employed individuals are also eligible. The statute broadly expands EIDLs scope to better account for the COVID-19 outbreak by treating emergency declarations under the Stafford Act as a trigger for EIDL eligibility. During this or a similar crisis, the SBA Administrator can, at their discretion, designate what states or subdivisions have suffered sufficient economic damage to justify small businesses in those areas receiving EIDL loans.

    EIDL Emergency Advance
    Submitting an Application
    EIDL Emergency Advances Money Usage
    EIDL and the Paycheck Protection Program

    Funds received under the EIDL program would be counted against any forgiveness an applicant receives under the Paycheck Protection Program.

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    Grants Loans And Programs To Benefit Your Small Business

    When you know where to look, help for your small business is there for the taking.

    There are many grant programs available to small businesses, depending on a variety of qualifying factors.

    Times are tough for small business, but help is available, from both the governmentfederal, state or localand the private sector. It may be in the form of a grant, a loan or a leg up competing in a difficult business environment. Heres a breakdown to help you sort through whats available.

    Temporary Income Support For Workers And Parents

    For Canadians without paid sick leave who are sick, quarantined or forced to stay home to care for children, the Government is:

    • Waiving the one-week waiting period for those individuals in imposed quarantine that claim Employment Insurance sickness benefits. This temporary measure is in effect as of March 15, 2020.
    • Waiving the requirement to provide a medical certificate to access EI sickness benefits.
    • Introducing the Emergency Care Benefit providing up to $900 bi-weekly, for up to 15 weeks. This flat-payment Benefit would be administered through the Canada Revenue Agency and provide income support to:
    • Workers, including the self-employed, who are quarantined or sick with COVID-19 but do not qualify for EI sickness benefits.
    • Workers, including the self-employed, who are taking care of a family member who is sick with COVID-19, such as an elderly parent, but do not qualify for EI sickness benefits.
    • Parents with children who require care or supervision due to school or daycare closures, and are unable to earn employment income, irrespective of whether they qualify for EI or not.

    Application for the Benefit will be available in April 2020, and require Canadians to attest that they meet the eligibility requirements. They will need to re-attest every two weeks to reconfirm their eligibility. Canadians will select one of three channels to apply for the Benefit:

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    Based Upon Your Feedback You May Be Eligible For The Following Federal Small Business Administration Programs Segn Sus Comentarios Usted Puede Ser Elegible Para Los Siguientes Programas De La Federal Small Business Administration

    Disclaimer: As a courtesy, the NJEDA is offering this screening tool that lists emergency assistance programs that you may decide to consider based upon information you provide about your organization.

    The Eligibility Wizard neither approves nor denies eligibility for programs, nor does it reserve any funding or a place in any application queue. It is the responsibility of your organization to fully assess your eligibility for any State or Federal assistance program. The full specifications for each State emergency assistance program are located on the COVID Business Information Hub:. If you have additional questions, please ask them in the chat feature of that website.

    To apply for a program listed below, you need to apply through the appropriate administering agency. The administering agency will determine all eligibility requirements upon your submission of an application to that agency for the respective program.

    Descargo de responsabilidad de NJEDA

    Como cortesía, NJEDA ofrece esta herramienta de evaluación que enumera los programas de asistencia para emergencias que usted podría considerar, teniendo en cuenta la información que proporciona sobre su organización.

    Emergency Assistance Guarantee Program

    Collaboration And Helping Each Other Are In Our Dna

    A Guide to SBAs Disaster Assistance Program

    During this period of uncertainty, entrepreneurs have many questions regarding how to stay in business or determine the financial difficulties this pandemic could cause.

    Each business or organization is different and requires personalized solutions tailored to its own situation. Before making decisions that will affect your financing or the future of your business, please contact one of our account directors today to discuss your situation. We will help you identify the measures available and guide you in the days ahead based on your business strategies.

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    What Level Of Assistance Is Available

    Small Business Assistance may provide financial assistance of:

    • 50 per cent of eligible costs
    • to a maximum contribution of $4,000 over a 24 month period and
    • subject to the maximum eligible costs for specific activities, as specified in the What activities and costs are supported section.

    The combined project funding from all non-repayable government sources cannot exceed 75 per cent of eligible costs.

    About The Small Business Assistance Program

    The City of Rio Rancho has developed an emergency relief package for small businesses and micro-enterprise businesses located within the City of Rio Rancho that are in jeopardy as a result of COVID-19 public safety measures. This program is funded through the U.S. Department of Housing and Urban Development CDBG program. Assistance is in the form of a performance grant. In the event that conditions established in the grant agreement are not met, the grant then becomes a loan at zero percent interest. Based on unprecedented requirements for social distancing, businesses have seen a dramatic decline in revenue.

    This funding is projected to assist the business for up to three months and is feasible for that period.

    • Based on documentation received from the applicant, the maximum amount of this grant shall not exceed $5,000.00 for micro-enterprises with five employees or less and small businesses with up to 10 employees.
    • This grant shall not exceed $10,000.00 for small businesses that employ eleven or more employees.

    The City does not anticipate these funds will result in profit, but will assist the business to sustain its fixed costs during this crisis. Grants will only be made payable if the business owner fails to fulfill their commitment to rehire employees after the health crisis is over or if terms of the grant agreement and documentation requirements are not met. Certain eligibility criteria must be met in order to be eligible for this funding source.

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    What Criteria Are Used To Evaluate Funding Applications

    Eligible businesses that submit complete applications will be reviewed on a first-come, first-serve basis. An application is considered to be complete and received when all required information has been submitted to Innovation PEI.

    Not all projects meeting the minimum criteria will receive funding. Applications will also be evaluated using the following considerations:

    • level of assistance from other government programs offered or available and
    • availability of program funds.

    The project must provide economic benefit to the province of Prince Edward Island.

    Income Support For Individuals Who Need It Most

    SBA Economic Injury Disaster Loans in KY

    For over 12 million low- and modest-income families, who may require additional help with their finances, the Government is proposing to provide a one-time special payment by early May 2020 through the Goods and Services Tax credit . This will double the maximum annual GSTC payment amounts for the 2019-20 benefit year. The average boost to income for those benefitting from this measure will be close to $400 for single individuals and close to $600 for couples. This measure will inject $5.5 billion into the economy.

    For over 3.5 million families with children, who may also require additional support, the Government is proposing to increase the maximum annual Canada Child Benefit payment amounts, only for the 2019-20 benefit year, by $300 per child. The overall increase for families receiving CCB will be approximately $550 on average these families will receive an extra $300 per child as part of their May payment. In total, this measure will deliver almost $2 billion in extra support.

    Together, the proposed enhancements of the GSTC and CCB will give a single parent with two children and low to modest income nearly $1,500 in additional short-term support.

    To ensure that certain groups who may be vulnerable to the impacts of COVID-19 have the support they need, the Government is proposing targeted help by:

    • Providing $305 million for a new distinctions-based Indigenous Community Support Fund to address immediate needs in First Nations, Inuit, and Métis Nation communities.

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