More Fiona-Related Support For Nova Scotia Businesses
HALIFAX – The Government of Nova Scotia will give $2,500 to small businesses impacted by Hurricane Fiona.
Premier Tim Houston has introduced a program to support small businesses in the aftermath of the storm. The Small Business Hurricane Relief Program will give a one-time grant of $2,500 to small business owners to help offset the cost of unanticipated business closures.
The government has not yet released many details about the program. However, it did say businesses must have closed for at least five days, when they would have otherwise been open, to be eligible.
Those Fiona-related closures must have happened between September 23 and October 7.
According to the government, the program will cost taxpayers as much as $10 million. The government has also promised to eventually release more details about the new grants.
The small businesses grants will provide help to businesses on top of other financial support the government already announced.
On Monday, the province said it will help businesses pay for storm damage to uninsured assets.
The program is available for businesses, not-for-profit organizations, and residents to help pay to repair or replace uninsurable, essential basic property (like appliances and furniture) destroyed during Hurricane Fiona.
The government says it will cover the cost of replacements or repairs up to $200,000.
Small businesses can apply for financial assistance if:
- The damage occurred during Hurricane Fiona on September 23 to 24, 2022;
- They don’t have insurance to cover their entire loss;
- The business owns or leases the property;
- The applicant is a sole proprietor or owns at least 50 percent of the business and is its full-time, day-to-day manager;
- Their yearly gross revenue is at least $10,000 and not more than $2,000,000
More information on the government’s Fiona relief programs for businesses is available here.