COVID-19 Relief - Ontario Small Business Support Grant

COVID-19 Relief - Ontario Small Business Support Grant

Following more than a month of mandated provincewide shutdowns to help stop the spread of COVID-19, the Ontario government announced that a phased reopening is set to begin on Wednesday, February 10th. However, much of the province will still remain in lockdown until further notice. Small businesses are particularly affected by the closures during the pandemic. In a study analyzing the differential impacts of the pandemic on small businesses, Statistics Canada found that small businesses were "more likely to experience a decrease in revenue and have less liquidity, and more likely to be unable to take on more debt and to be considering bankruptcy in the current economic environment". The strain that small businesses experience affects many Canadians because small businesses make up 98% of all businesses with employees in Canada.