Six hundred and seventy-five small businesses in the community will be receiving some recovery support.
On August 2nd, 2016 Council approved to contribute $15-million to business support. The money businesses will be receiving is the $5-million allocated for immediate support and the remaining $10-million is tied to the implementation of the 2017 economic strategic plan that the RMWB is developing.
“This program is intended to help small businesses that are creating jobs and developing the work force in our community. The small business community plays an integral role in the success of our community,” said Andrea Haley with Wood Buffalo Economic Development.
The amount of funding each approved business will receive is dependent upon the specific business but will range from $5,386 to $7,916.
To be approved for the funding the businesses needed to meet all five points of criteria:
- Be a small business, defined as having 1-49 employees
- Have an active ‘resident’ RMWB business license (exceptions for businesses located on First Nations’ lands)
- Was operating within the RMWB on May 3, 2016
- Filed a tax return within the last three years reporting business income with the Canada Revenue Agency
- Complete the survey questions in the application
Approved businesses should have received an email on January 24, 2017, prior to receiving their cheques which were mailed out on January 31, 2017.
