Canada:
British Columbia Programs | COVID-19: Funding And Financial Relief Programs For Startups And Small Businesses
24 June 2020
Norton Rose Fulbright Canada LLP
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A detailed table outlining the various programs available in
British Columbia are listed below. If you would like to discuss
your eligibility for any of these programs, please do not hesitate
to contact a member of our team.
Tech Co-op Grants Program
Description |
Eligibility |
Application details |
- Get up to $20,000 in funding to hire
co-op students through the Tech Co-op Grants Program
|
- To be eligible of the grant, your
business must be based in BC and must have fewer than 500
employees
|
|
Innovate BC - BC Fast Pilot Program
Description |
Eligibility |
Application details |
- The B.C. Fast Pilot program provides
up to $200,000 for regional SMEs to design, build and operate a
pilot plant or small demonstration of their technology in
real-world conditions
- The program allows B.C. technology
companies to demonstrate the impact of their product, measure the
value of their solution, and encourage customer adoption
|
- Be a B.C.-based business
- Have less than 500 employees on
payroll
- Have developed a prototype and are
ready to demonstrate the technology at a customer site.
- Have an early adopter or potential
customer
|
- The application deadline is May 28
2020
|
BC Women's Enterprise Centre Loan Program
Description |
Eligibility |
Application details |
- Loans up to $150,000 for BC women,
plus access to up to an additional $100K through our partnership
with BDC
- Loans for market-ready start-ups,
business expansion projects and business purchases
- Loans for leaseholds, equipment,
operating capital and more
- Flexible repayment options and terms
up to 5 years
- Lower security and equity
requirements than many other lenders
|
- You may qualify with us, even if you
don't with other lenders. For basic eligibility you must be: A
woman who owns and controls at least 51% of a business that is
registered and located in British Columbia, a Canadian citizen or
Permanent Resident, and residing in British Columbia
|
- For more information and to apply,
click here
|
Innovator Skills Initiative
Description |
Eligibility |
Application details |
- The Innovator Skills Initiative (ISI)
provides up to $10,000 a year for B.C.-based companies to hire
undergrad and graduate students
- This program has also recently been
updated so that both tech companies and non-tech organizations can
benefit from it
- The ISI grant can help you hire
talent on a full or part-time basis. Whether you're a non-tech
company looking for a tech expert to develop your online presence
or you're a tech company that needs support with business
operations, the ISI can help you
|
To be eligible, you are:
- A tech company or tech non-profit
hiring for a business or tech role, or
- A non-tech business or non-profit
hiring for a tech role
- Hiring a post-secondary student from
an accredited institution in BC
To be eligible, your student:
- Is not a co-op student
- Will be hired for a business or
technical role
- Is enrolled at an accredited post
secondary institution in BC
|
|
Provincial Tax Changes
Description |
Eligibility |
Application details |
- British Columbia is extending filing
and payment deadlines for the following taxes until September 30,
2020:
- Employer Health Tax
- Sales Taxes
- Provincial sales tax (including municipal and regional district
tax)
- Carbon tax
- Motor fuel tax and Tobacco tax
- Carbon tax rates will remain at their
current levels until further notice
- School tax rates for commercial
properties (Classes 4, 5 and 6) will be reduced by 50% for the 2020
tax year
- On April 16, the school property tax
was lowered again and classes 7 and 8 are now included. Overall,
the commercial property tax bill for most businesses will be
reduced by 25% on average
- Late payment penalties for classes 4,
5, 6, 7 and 8 are postponed to October 1, 2020
|
- Your business files taxes in British
Columbia
|
|
Worksafe BC
Description |
Eligibility |
Application details |
- Q1 payments for 2020 have been
postponed - businesses that report payroll and make payments on a
quarterly basis can defer payments without penalty until June 30,
2020
- Employers who report payroll on an
annual basis do not need to report their 2020 payroll or pay their
2020 premiums until March 2021
|
- Employers based in BC are
eligible
|
|
BC Hydro
Description |
Eligibility |
Application details |
- Small businesses that have been
forced to close due to COVID-19 will have their power bills
forgiven for three months (April to June 2020)
- Major industries, like pulp and paper
mills and mines, will have the opportunity to defer 50% of their
bill payments for three months
- BC Hydro rates have been reduced by
1% e ective April 1, 2020
|
- BC Hydro customers are
eligible
|
|
Greenhouse Carbon Tax Relief Grants
Description |
Eligibility |
Application details |
- Greenhouse operators can now apply
for carbon tax relief grants for the 2020 production year, until
May 1, 2020
- Commercial producers in B.C. who grow
vegetables, ornamental flowers and plants, forest seedlings and
nursery plants are eligible to apply for the grant if they: had
sales exceeding $20,000 in 2019, used natural gas or propane to
heat their greenhouses or produce carbon dioxide, and had a
production area greater than 455 square metres
- Cannabis is not an eligible crop at
any phase of production
|
To qualify to receive a 2020 GCTRG, an Applicant must have met
all of the following criteria at the time of the application
submission:
- is a corporation, partnership or
individual(s) operating a commercial greenhouse in British Columbia
for the entire 2020 production year
- is using natural gas or propane in
the operation of their Eligible Production Area for heating or the
production of CO2 for Eligible Crop fertilization, or both
- had sales in 2019 exceeding $20,000
(for start-ups or new purchases, an operator anticipates sales
exceeding $20,000 in 2019) from the production of Eligible
Crops
- has a minimum of 455 square metres
(5,000 square feet) of Eligible Production Area
- is using at least 75% of their total
Eligible Production Area for the production of Eligible Crops
- is producing an Eligible Crop
- has completed and submitted the
online survey by May 1, 2020
|
- To submit an application, click here
|
Contact for Support Service for Businesses
Description |
Eligibility |
Application details |
- A new B.C. Business COVID-19 Support
Service will serve as a single point of contact for businesses
throughout the province looking for information on resources
available during the COVID-19 pandemic
- The service will act as a one-stop
resource to answer questions about supports available to businesses
from the provincial and federal governments, industry and community
partners
- Advisors are available Monday to
Friday, from 8 a.m. to 6 p.m. (Pacific time) and Saturday from 10
a.m. to 4 p.m. at 1 833 254-4357. Inquiries can also be emailed to
covid@smallbusinessbc.ca, or raised on the
live-chat feature available on SBBC's dedicated website: https://covid.smallbusinessbc.ca
|
- BC businesses are
eligible
|
|
B.C. Emergency Benefit for Workers
Description |
Eligibility |
Application details |
- The B.C. Emergency Benefit for
Workers (BCEBW) is a one-time, tax-free $1,000 payment for British
Columbians whose ability to work has been a ected as a result of
the COVID-19 pandemic
- Most people who are eligible for the
new federal Canada Emergency Response Benefit (CERB) are also
eligible for the BCEBW, including those who have run out of
employment insurance (EI) benefits and subsequently qualify for the
CERB
|
- To be eligible for the BCEBW, you
must: have been a resident of British Columbia on March 15, 2020,
meet the eligibility requirements for the CERB, have been approved
for the CERB, even if you have not received a benefit yet, be at
least 15 years old on the date of application, have filed, or agree
to file, a 2019 B.C. income tax return, and not be receiving
provincial income assistance or disability assistance
|
- Applications open on May 1,
2020
|
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