Saskatchewan businesses forced to update business model due to COVID-19 offered rebate

Businesses in Saskatchewan could soon receive rebates to help address the challenges caused by the coronavirus pandemic.

The province announced the new Strong Recovery Adaptation Rebate (SRAR) aimed at supporting businesses as they adapt their business models to the current economic conditions.

“Our government continues to stand with our small business community as we work towards economic recovery, and this program is one more tool to help small businesses navigate the challenging situation we currently face,” said Jeremy Harrison, Minister of Trade and Export Development.

Eligible businesses are ones who have revamped their business model in ways such as changing the use of square footage, installing physical infrastructure to comply with COVID-19 mitigation guidelines, and upgrading electronic systems, such as websites, to enhance their business.

The program is available only to businesses that employ fewer than 100 people, have or will incur expenses to adapt their business between April 1 and Feb. 28, plan to continue operating, and have experienced at least a 30 per cent decline in revenue when compared to 2019.

“Small businesses are continuing to do their part by not only protecting public health, but also helping to ensure a strong economic recovery in both the weeks and months ahead, and in the longer term as well,” Harrison said.

Eligible applicants will receive a 50 per cent rebate of up to a maximum of $5,000 for a $10,000 expenditure.

This isn’t the only measure the province has taken aimed at helping small businesses.

At the end of November, the province announced that the small business tax rate would be reduced to zero per cent retroactive to Oct. 1, and be restored to two per cent by July 2023.

“We will also be moving quickly to cut everyone’s power bill by 10 per cent starting tomorrow (Dec. 1), reduce ambulance charges for seniors and reinstate the community rink affordability grant,” Saskatchewan Premier Scott Moe said on Nov. 30.

SRAR is being launched in the coming weeks. For more information and to apply, visit the Government of Saskatchewan’s website.

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