On Thursday, the Government of Saskatchewan announced the Small Business Emergency Payment. The $50 million program will provide financial support to small and medium-sized businesses that have had to temporarily close or significantly slow operations as a result of the COVID-19 pandemic.
Premier Scott Moe says the Small Business Emergency Payment, provides a one-time grant for small and medium-sized enterprises directly affected by government public health orders related to COVID-19. Grants will be paid based on 15 per cent of monthly sales revenue, to a maximum of $5,000.
In order to qualify businesses must, have been fully operational as of February 29th, have ceased or curtailed operations as a result of the COVID-19 public health order,
have less than 500 employees and can commit to reopen business operations following the cancellation of the COVID-19 public health order.
The SSBEP supplements previously announced supports for businesses, including waiving penalties and interest charges for three months for late PST returns, zero-interest bill deferral for up to six months for all Crown utilities, and waiving Workers Compensation Board premium penalties until June 30th.
Minister of Trade, Jeremy Harrison, says part of the challenge heard from business owners is the time frame that national programs will take to get money into the province.
“What we stepped in with was a program that will supplement (Federal) programs, to bring forward funding, as quickly as we can. That businesses can deploy in the way they feel will best keep their business moving forward.”
Harrison added this program will help businesses be viable when the pandemic ends and that Saskatchewan is in one of the best positions for recovery in the entire world. He suggested the province has what the world needs for recovery with industry in things like food, fertilizer and energy.
Further details and applications will be available on April 13. For more information, businesses can visit www.saskatchewan.ca/covid19-businesses.
