Business Beat: Business Innovation Grant accepting applications
The City of Medicine Hat commenced the application process for the fourth and final phase of the City of Medicine Hat Business Innovation Grant (MHBIG).
The $2M MHBIG was part of an $8.2M COVID relief package approved by City Council on May 4, 2020 to support businesses in coping with and recovering from the economic impacts of the pandemic. Local partners, Community Futures Entre-Corp are responsible for facilitating the fund on behalf of the City.
“We recognize our businesses are hurting during these challenging times and are happy we could offer a significant financial package to support them,” says Mayor Ted Clugston. “Today, we are in the fourth $500,000 tranche of the grant and expect it will be fully subscribed within the coming weeks.”
Based on a thorough analysis of the first three allotments of the MHBIG program, grant criteria was adjusted to ensure the program was meeting the needs of local business. Added eligibility criteria includes:
Technology costs including the implementation of a customer relationship management (“CRM”) software systems to enable business to operate remotely or in a safe manner.
Costs associated with expanding into a new line of business which is reasonably expected to result in increased revenue and employment.
Video cameras which help monitor isolated workers, provide building security, and support general remote management of the assets of the business.
As a reminder, as in the previous MHBIG funding, businesses can utilize these funds to assist building their online presence, including merchants currently on ShopYXH or any businesses looking to launch their online store.
Local businesses established on or before January 1, 2021 with a valid business license who have experienced an adverse impact on their business operations due to the COVID-19 pandemic can apply for $500 to $15,000.
To learn more about the full eligibility and to apply for the MHBIG, please visit http://entre-corp.albertacf.com/mhbig.