Support introduced for self-employed businesses impacted by COVID-19 closures
Opportunities NB is launching a financial support program that offers non-repayable grants to self-employed business people who have had to close due to restrictions put in place to slow the spread of COVID-19.
Businesses eligible for the Self-Employed Lockdown Fund include those who do not have employees but were ordered to close under the COVID-19 Winter Plan. Funding will take the form of a one-time grant of $2,000.
“I am proud that we are launching a program benefitting self-employed business people,” said Minister responsible for Economic Development and Small Business Arlene Dunn, who is also minister responsible for Opportunities NB. “This is another example of how the government is listening to the business community in its handling of the response to COVID-19.”
In order to be eligible for the program, businesses must meet the following criteria:
-be a permanent New Brunswick-based business or organization physically operating in the province;
-had been actively operating or conducting business before being ordered to close;
-possess an active and valid CRA Business Number;
-be in good standing with the provincial government and with the Corporate Registry of New Brunswick; and
-provide evidence of annual gross business income of more than $30,000.
Applicants will be required to produce recent tax documents, like a T2, HST, or a copy of form T2125, Statement of Business or Professional Activities, from their personal income or corporate tax return.
Applications can be made online through the Opportunities NB website beginning Feb. 1. More information, including application requirements, is available by contacting Opportunities NB’s Business Navigators by email at email@example.com or phone at 1-833-799-7966.
Eligible businesses should expect payment within 10 business days following receipt of a complete application.