Grants which Edmonton Alberta based small & medium size businesses can use for Digital Transformation of the business

 


Before the COVID-19 pandemic, there is no doubt that the economic outlook of Alberta has been bleak, to begin with, especially with the decline of the oil business in the province. With COVID-19 restrictions forcing businesses to close temporarily, pivot their business model, or work at a limited capacity this has taken a hit, especially to small businesses. Small businesses are an important part of the economy and need help now more than ever.

In Alberta, there are two grants available to help businesses affected by COVID-19. Grants do not have to be paid back as long as the business fulfills the grant’s requirements. These grants can be beneficial to really help transform businesses to better adapt to digital platforms because consumers are more reliant on technology as COVID progresses. This is important as consumers nowadays expect more from what a business offers. The grants available are the provincial Small and Medium Enterprise Relaunch Grant and the Edmonton Municipal Individual Business Grant.

Small and Medium Enterprise Relaunch Grant For Edmonton, Alberta based Businesses

This grant is offered by the Government of Alberta to help mitigate the effects of COVID-19 on the economy. It is for Alberta businesses, cooperatives, and non-profit organizations that have less than 500 employees. The number of employees is the sum of people in full-time, part-time and contract employment. For seasonal businesses, you can use the number of employees the year prior to COVID measures or the average number of employees in the past 3 years prior to COVID measures. Initially, there was only one payment administered for this grant, but in December 2020, they updated their terms to include a second payment. Those who initially applied for the first payment are able to apply for the second payment as long as they fit the criteria for it. As for those who had not applied yet for the first payment, they can now use one application to apply for both.

The first payment grants businesses 15% of their month’s pre-COVID revenue up to a maximum payment of $5,000. To qualify for the first payment a business must demonstrate that as a result of COVID-19 restrictions it had at least a 30% reduction in revenue in April or May 2020 in comparison to the same month in 2019 or February 2020. As for businesses that run on a seasonal basis, they would have to use the average monthly sales revenue in the months they were in full operation.

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