The Small and Medium Enterprise Relaunch Grant offers financial assistance to Alberta organizations (businesses, cooperatives and non-profits) that were ordered to close or curtail operations, and that experienced a revenue reduction of at least 30%, as a result of the COVID-19 pandemic.
To support businesses affected by the public health measures introduced in April 2021, a spring 2021 application period opened April 23. Here are the details you should know:
- The application is now open, in order to apply, you must register for your Alberta ID for your company from this link: https://www.alberta.ca/sme-relaunch-grant.aspx
- If your corporation was incorporated before Feb 29, 2020; you must determine a baseline month for the revenue drop of at least 30% from one of the following months: November 2019 to April 2020.
- You then must compared the selected baseline month to the corresponding month the following year. For instance, if November 2019 was chosen, compare against November 2020.
- If your corporation was incorporated after Feb 29, 2020; you must determine a baseline month for the revenue drop of at least 30% through a month to month comparison from one of the following months, April 2020 to April 2021 compared against any month from November 2020 to April 2021.
- Seasonal businesses must use an average method of the months in operations 2019 compared to the average months in operation in 2020
- Eligible business must also indicate the date that you had to curtail your operations in April 2021 as a result of a Public Health Order
- If all criteria are met, you can receive up to 15% of the baseline revenue months in the form of a grant from the Alberta Government, up to a maximum of $10,000.
As always, if you have any questions, please contact your HGA Advisor!