Program to support small businesses in N.S. takes effect Monday

More support is now available for businesses in Nova Scotia thanks to the province's Sector Impact Support Program, which took effect Monday.

The program will provide a one-time grant to help small business owners in areas such as restaurants, bars, gyms, live performing arts facilities and recreation facilities.

"This recent wave of the pandemic has been challenging for many businesses across our province, and with these public health restrictions, additional support is needed," said Economic Development Minister Susan Corkum-Greek. "We know this help can't come soon enough, and we will continue to be there to support our business sector and position ourselves for recovery as quickly as possible."

Eligible businesses can receive a grant of $2,500, $5,000 or $7,500 based on gross payroll cost or gross revenue in November 2021.

To be eligible, businesses must:

• have had a minimum gross monthly payroll of $1,000 or a minimum of $2,500 of gross monthly revenue for November 2021
• be registered to do business in Nova Scotia
• have an active Canada Revenue Agency business number
• have gross revenue of $5 million or less in its most recently filed tax year

"Incorporated businesses that operate more than one eligible business location under a single corporate entity may claim a rebate for each business location," reads a release from the province.