New York State Offers $5,000 Grants to Restaurants to Help Survive Winter
By Scott Azus, MST, Staff Accountant, Tax & Business Services
COVID-19 has greatly impacted all kinds of businesses throughout New York, but none as visibly or as deeply as the restaurant industry. With New York State’s tight safety restrictions and mandates, the pandemic has pushed indoor dining practically off the table. But not completely. Restaurant owners have scrambled to find alternatives, both inside and out of doors. Behold — the outdoor patio dining boom was born!
Restaurants determined to survive have invested heavily to make their eateries COVID-compliant and keep their sidewalk tables full. But with winter upon us, how will the newly al fresco establishments survive? A few more weeks or even months of lost revenue could force many to close their doors for good.
In an attempt to support the industry that arguably was hurt the most during the pandemic, the Raising the NYS Bar Restaurant Recovery Fund offers grants of up to $5,000 to eligible businesses. These grants are supplied on a reimbursable basis for improvements and equipment that will allow the business to comply with COVID-related guidelines. Investments that will allow eateries to operate in the winter, such as heat lamps and weatherization upgrades, will go a long way towards keeping them afloat through the coldest months of the year.
Expenditures made after September 1, 2020, are eligible to be considered. To be eligible, businesses must:
- Be located in New York State.
- Have no more than $3 million in 2019 revenue.
- Not be a franchise.
- Have begun operation on or before March 1, 2019.
Empire State Development encourages minority- and women-owned business enterprises to apply. More information and a link to the program are available at: esd.ny.gov/raising-the-bar-restaurant-recovery-fund
Coronavirus Resource Center
Have more questions about the impact of the coronavirus on your business? Visit Marcum’s Coronavirus Resource Center for up-to-date information.
