Government of Canada Announces $2.7 Million to Support Small Businesses in British Columbia
November 1, 2024
Kamloops, British Columbia – The Government of Canada is investing $2.7 million in small businesses in British Columbia through the Regional Relief and Recovery Fund (RRRF). This investment will help businesses recover from the economic impacts of the COVID-19 pandemic and position them for future growth.
The announcement was made by Terry Beech, Member of Parliament for Burnaby North-Seymour, on behalf of the Honourable Mary Ng, Minister of Small Business, Export Promotion and International Trade.
The RRRF is a $2 billion national program that provides non-repayable contributions to small businesses and non-profit organizations that have been impacted by the COVID-19 pandemic. The program is delivered through regional development agencies (RDAs) across Canada.
In British Columbia, the RRRF will be delivered by Western Economic Diversification Canada (WD). WD has partnered with Community Futures Development Corporations (CFDCs) to deliver the program to eligible businesses in communities across the province.
Eligible businesses may receive contributions of up to $100,000 to cover costs such as:
- Wages and salaries
- Rent and utilities
- PPE and safety equipment
- Marketing and advertising
- Equipment and machinery
To be eligible, businesses must meet the following criteria:
- Have been in operation for at least six months prior to March 1, 2020
- Have annual revenues of less than $1 million
- Have been impacted by the COVID-19 pandemic
“Small businesses are the backbone of our economy and have been hit hard by the COVID-19 pandemic,” said Mr. Beech. “This investment will help them recover from the pandemic and position them for future growth.”
“Our government is committed to supporting small businesses during this challenging time,” said Minister Ng. “The Regional Relief and Recovery Fund will provide much-needed assistance to businesses in British Columbia and across Canada.”
Applications for the RRRF are now open. Eligible businesses are encouraged to apply through their local CFDC.
For more information, please visit the WD website at www.wd-deo.gc.ca.
Government of Canada announces $2.7 million to support small businesses in British Columbia
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