More Support For N.S. Businesses Battered By New Covid Restrictions

HALIFAX—Nova Scotia is giving more money to businesses affected by the latest round of Covid-19-related restrictions.

Its Sector Impact Support Program will give one-time grants of as much as $7,500 to small businesses most affected by new restrictions that came into effect today.

RELATED: N.S. Tightens Restrictions As New Covid-19 Variant Spreads

Those include restaurants, bars, gyms, live performing arts facilities, and recreation facilities, among others.

To qualify, businesses must have gross revenue of $5 million or less in their most recent tax year. They must also have had a minimum gross monthly payroll of $1,000 in November.

Houston said the grants will vary depending on the size of the business.

“We need to also understand that no two businesses are the same, so in order to be more flexible the program has different tiers of grants that are based on payroll,” he said.

Based on their November payroll, businesses are eligible for grants as follows:

• For payroll costs between $1,000 and $15,000, a grant of $2,500;
• For payroll costs between $15,001 and $25,000, a grant of $5,000;
• For payroll costs between $25,001 or more, a grant of $7,500.

“I know in the past funding from these kinds of programs hasn’t come fast enough, and we’re working both internally and with Dalhousie with the hopes of speeding things up this time around,” Houston said.

The province says applications for the new grant will open in early January.

Houston said the province will continue to work with businesses as the latest outbreak unfolds, including putting forward more support money if it’s necessary.

“The pandemic is not over, and as we go forward we will work with the business sector to be flexible and to understand the ongoing impacts on their operations. And we will support them,” Houston said.

The province expects the Sector Impact Support Program to cost about $10-million, depending on participation.

The new support comes as Nova Scotia is in the midst of the worst Covid-19 outbreak in its history.

On December 17, Nova Scotia reported 394 new cases of Covid-19. Seven people are in hospital, including two in ICU.

Trevor Nichols is the associate editor of Huddle, based in Halifax. Send him your feedback and story ideas: [email protected].