BC Small and Medium Businesses (SMB) Grant
On February 3rd, the provincial government announced that BC would be supporting its small and medium-sized businesses make the transition to online storefronts. The government explained that it will be using $12 million of the province’s $1.5 billion recovery plan to support businesses with less than 149 employees across the province.
Eligible businesses are able to apply for a grant of up to $7500 to be used towards creating online storefronts. 25% of this money has been set aside for Indigenous-owned businesses and businesses operating outside of the lower mainland and greater Victoria. Business owners must use this money to hire a BC-based company to assist in making their business online ready. While the province expects to be able to help 1,500 businesses, grants are available on a first-come-first-serve basis and business owners are encouraged to apply as soon as they can.
Eligibility
Applicants must meet all of the following general eligibility criteria:
- The business is owned by a B.C. resident or residents;
- The business’s sole or primary operations are located in B.C.
- The business:
- Is currently operating;
- Is registered in B.C.;
- Employs less than 149 B.C. residents;
- Pays taxes in B.C.
- Maintains a
- Business license number
- GST number
- PST and WorkSafeBC number (where applicable)
- Generated sales of more than $30,000 in the past year (in 2019, or in the year preceding the application)
- Has repeatable products, or in the case of artists and jewellers, individual items that have slight differences (i.e. paintings or rings)
- Does not currently have an online store or has an online store that has no more than three of the five identified online store features
- Customer registration and information security features
- Shopping cart and order management capabilities
- Payment processing options including application of appropriate taxes and shipping costs at time of ordering
- Product catalogue, search and inventory status
- Website analytics and reporting capabilities
Businesses will be asked to declare access to other programs funded by the provincial or federal government such as Buy BC Partnership Program E-commerce Funding Stream or Canada United Small Business Relief Fund.
Eligible Expenses
Funding will help cover up to 75% of costs for expenses such as:
- Service provider costs:
- Platform and website development
- Copy and online content writing
- Developing an online inventory of goods and products
- Pictures (including hiring a photographer), stock photos or related graphics needed
- Digital customer costs:
- E-commerce platform subscription (up to 1 year)
- Online advertising (up to 1 year)
- Search Engine Optimization (SEO)
- Creating banners and other embedded advertising
- Staff training to manage the online shop, learn about digital marketing, etc.
Successful applicants must use one or more B.C.-based service provider(s) to build or improve their online store. The only non-B.C.-based eligible expenses include:
- Platform subscription costs
- Purchase of online photos and graphics
- Purchase of online promotional space such as Facebook ads
Mandatory online shop features
At the end of the 12-weeks your online shop will need to have:
- Customer registration and information security features
- Shopping cart and order management capabilities
- Payment processing options including taxes and shipping costs at time of ordering
- Product catalogue, search and inventory status
- Website analytics and reporting capabilities
Start your application now!
**Information sourced from Launch Online more information please visit their official website.
How We Can Help
Our team at Evolution Business specializes in helping businesses to grow through their online platforms and networks. We can help you to build or rebuild your website to be more e-commerce friendly and better meet the needs of your consumers. For a FREE consultation, call us today at 1-250-740-1844.
