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BC Small and Medium Sized Business Recovery Grant

Request for Expressions of Interest

Legal and Accounting Professional Services to Support B.C.’s Small and Medium Sized Business Recovery Grant Program

The B.C. Small and Medium Sized Business Recovery Grant Program is intended to provide financial assistance to businesses that have been drastically impacted by COVID-19. Eligible businesses will receive grants of between $10,000 to $30,000 (with an additional top-up of up to $10,000 for eligible tourism-related businesses) to support the costs of implementing a recovery plan that outlines a realistic approach to keeping the business afloat until sales and revenues are able to return to more-normal levels.

By supporting those businesses that establish a realistic plan to remain viable through what may be a prolonged period of reduced consumer activity, the program is intended to help British Columbia businesses stabilize and adapt their operations, sustain their employees and continue to support local purchases of goods and services in communities throughout the province.

Small Business BC is a delivery partner that will be focused on Stage 2 of the process – retaining a roster of professional service providers, matching eligible businesses with service providers, and ensuring recovery plans are completed in a timely manner.

Eligible businesses will be provided with professional services valued at up to $2,000 per business (including taxes) to help assess their situation and develop a recovery plan that will describe a realistic path to remaining solvent until COVID-19 is behind us.

 

Businesses Helping Businesses

The B.C. Small and Medium Sized Business Recovery Grant program is seeking interested parties such as accountants, financial planners, bookkeepers and lawyers to assess the solvency of businesses and help develop recovery plans (template to be provided). Small Business BC matches the business to the service provider who invoices SBBC for reimbursement for services, up to a maximum of $2,000 (including taxes) per grant recipient at their normal hourly rate of up to $250/hour.

Service providers must participate in a 45 minute webinar to ensure they are fully briefed on the objectives of the program, its timelines and the importance of a consistent approach.

Once businesses are verified as being eligible for the program, they will be matched with professional service providers through Small Business BC, wherever possible based on location, sector and spoken language needs. Businesses will receive a detailed summary of next steps and requirements of their participation. Once assigned to a business, the role of the professional service provider will be to review the business’s financial statements and assist them in evaluating and developing a recovery plan which will become the foundation of their grant application. More detail will be provided at the webinar.

Upon completion of the recovery plan – which should take no longer than two weeks to prepare from when the professional advisor is referred, the business will upload the recovery plan to their online application and the system will notify the Ministry of Jobs, Economic Development and Competitiveness (JEDC) that the plan is ready for review.

 

How to Apply

If you are one of the professions listed above, can support clients within a two week window, and would like to lend your skills, knowledge and expertise to assisting companies develop their economic recovery plans, and play a part in rebuilding a critical part of B.C’s economy, please submit your interest to Small Business BC by October 15, 2020 @10 p.m. PDT. Late applications will not be considered – no exception.

The Expression of Interest portal is now closed. Thank you for your submissions. We will respond to all applicants within 7 days from this closing. If you have any questions during this time - please email us at: covid@smallbusinessbc.ca

 

If you have any questions about the expression of interest – please call our team on 1-833-254-4357 (HELP) or use our live chat.

We are available to help Monday to Friday from 9:00am – 5:00pm

We respectfully acknowledge our place of work is within the ancestral, traditional and unceded territories of the Xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish) and səl̓ilwətaʔɬ/sel̓ílwitulh (Tsleil-Waututh) and that we serve the Peoples of the many Nations throughout British Columbia.