Every government has its own approach to COVID-19 small business relief.
The Small Business Administration did announce the launch of the Shuttered Venue Operators Grant program in response to COVID-19. This grant can offer the most hard-hit small businesses and non-profits up to 45% of their gross earned revenue. The program’s budget is $15 billion.
Other small business grants that US business owners could apply for include:
Small Business Innovation Research Program
Businesses that participate in federal research are eligible to apply. This program is extremely competitive.
USDA Rural Business Enterprise Grant Program
This program specifically supports the smallest businesses in rural areas.
This is another highly competitive program with a focus on R&D. Only businesses that officially collaborate with research institutions are eligible.
This program offers support for small businesses trying to start exporting their products.
This body offers a variety of targeted grants that should help minority-owned small businesses. Those were hit the hardest by the pandemic crisis and struggle to get access to other financing and support programs.
However, while US small business grants are versatile, the main focus of the government response to the COVID-19 crisis was the PPP. It’s currently approaching the third round of funding and the sum total of this program is nearing a trillion dollars. The program is facing a lot of criticism. However, the sheer scope of it is unmatched by any other country.
In Australia, the government is very active in offering a variety of support measures that aren’t focused on direct funding. It’s not a surprise seeing how hard the country’s economy had been hit. Australia’s GDP is expected to contract greatly plunging the country into a deep recession. In spite of this, small businesses can find some support using programs like:
This program will help small business owners and sole traders pay salaries if they are deeply affected by the COVID-19 crisis.
This is a small business help program in Victoria that includes cash grants, cash flow support, and tax relief.
Northern Territory in Australia has grants for business improvements, hardship packages, and a separate branch of support for affected tourism businesses.
Queensland government also offers various packages for relief and support as well as resilience grants for fishing businesses. Also, there is a dedicated support program for tourism and hospitality businesses.
The list goes on as every territory in Australia has a wide range of local support grants as well as tax and debt relief options.
This program helps employers cover salaries during lockdowns.
Claim back for Statutory Sick Pay paid to employees due to coronavirus.
Tax relief programs that allow businesses to defer payments of certain taxes on account of being affected by the COVVID-19 pandemic.
Self-Employed Income Support Scheme.
This scheme offers grants to the self-employed who will experience a significant reduction in profits due to the pandemic.
A complete list of grants and loan options offered by the UK government is truly extensive. Therefore, small businesses in Britain need to research them thoroughly as they can apply for several types of grants and other support. Note that support options for being affected by the pandemic, in general, are different from those offered for the businesses affected by the government-issued lockdowns and other restrictions.
There are also multiple local authority payments and grants you might be eligible for. Overall, the UK government clearly offers one of the most well-rounded response programs to fight the effects of the pandemic crisis.
Offering emergency loans with zero interest.
The program can be used to relieve or get support for rent and mortgage payments.
Businesses can use it to pay wages or to rehire employees lost due to the lockdowns.
Like many other countries, Canada also offers special loans and relief options for the highest-affected sectors.
There are also specialized lending programs to support minority-owned businesses, such as the Black Entrepreneurship Program and Support for Indigenous Businesses. These loans range from small interest-free options to low-interest financing of up to $250,000.
Note that there are also programs that aim to not relieve the strain of the pandemic but to improve. For example, the Tourism Economic Development and Recovery Fund offer support to projects that can increase the number of visitors to Ontario.