Saturday, July 13, 2024

Canadian Government Grants For Small Business

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Grant Loan And Subsidy Programs

Canadian Government Grants For Small Businesses

Canadian government funding programs can support small businesses, large corporations, non-profits and post-secondary research institutions. However, the key to accessing these programs are knowing which ones provide the best fit for your organization and upcoming projects.

Due to the constantly evolving landscape of federal and provincial funding programs, we have been asked by the government to not share our webinar slides and recordings after a webinar.

As Canadian government funding educators, Mentor Works strives to help business owners and executives learn about their potential for grants and loans. During our webinars and events, well help you understand the government funding landscape and build a plan to tap into these incentives. Use our teams expertise in 75+ of Canadas top business funding programs to find an incentive that supports your business growth.

Ontario Government Grant Loan And Funding Programs Mentor Works Can Write For Your Business

Ontario government funding programs can support a wide range of strategic projects, including business expansion, research and development, hiring and training, and capital investment. By being proactive and applying for funding prior to the start of projects, companies can access government grants and loans that provide a boost to company investments and greatly improve project outcomes.

Many of these programs are offered by Federal Economic Development Agency for Southern Ontario and Federal Economic Development Initiative for Northern Ontario .

The Ontario business grants and loans listed on this page may offer support for your organizations upcoming projects. To discuss your eligibility for them and receive assistance with the application process, please contact Mentor Works.

Mentor Works team of Canadian government grant & loan application writers have an average success rate of 86% across all government funding programs and provide our clients with an average of 95% time savings. Speak with a member of our team to find out what programs your business may be eligible for by calling us at or visiting our Get Funding Help page.

Use the filtering options below to help sort the available Canadian government funding programs.

Removing Barriers To Internal Trade

For too long, trade barriers within our own country have held back Canadian businesses from reaching the full force of the Canadian market. Removing barriers to trade between provinces and territories will help build a more prosperous economycreating jobs, fueling business expansion, expanding consumer choice of Canadian goods and services, and helping regional economies grow.

  • Budget 2021 proposes to allocate $21 million over three years, starting in 2021-22, to:
  • Work with provincial and territorial partners to enhance the capacity of the Internal Trade Secretariat that supports the Canadian Free Trade Agreement in order to accelerate the reduction of trade barriers within Canada.
  • Advance work with willing partners towards creating a repository of open and accessible pan-Canadian internal trade data to identify barriers, including licensing and professional certification requirements, that we can work together to reduce them.
  • Pursue internal trade objectives through new or renewed discretionary federal transfers to provinces and territories.

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Food For Thought: The Ripple Effect Of Not Exporting

If you take anything away from this blog post it should be this: You can do this, and you should. The reasons why might surprise you. The growth of your business impacts more than just your wallet and your business reputation. When Canadian SMEs abstain from trading internationally, it has a detrimental impact on the entire Canadian economy.

We know that Canadian small-to medium-sized enterprises are a key ingredient to expanding Canadian trade and growing our economy. Whats concerning, however, is that only 10 per cent of SMEs are currently tapping into international markets and supply chains. This signals an opportunity and necessity to do more, especially when research also shows that exporting companies grow faster, are more resilient and innovative, and more sustainable than companies that dont export, explains Pottier.

Growing your business and exporting internationally is a great move for your business, you just need to get started. Take the first step by exploring the excellent resources in your area that are designed to support business owners like you in your efforts. Do it for your future, do it for Canada!

Helping Small And Medium

Small Business Government Grants in Canada

The pandemic has hastened the economy’s digital transformation as companies, workers, and consumers conduct more and more business online. Canadian businesses need to adopt new technologies and digitize to meet customer needs and stay competitive.

To fuel the recovery, jobs, and growth, the government is launching the Canada Digital Adoption Program, which will create thousands of jobs for young Canadians and help as many as 160,000 small- and medium-sized businesses adopt new digital technologies.

This program will provide businesses with two streams of support. Eligible businesses will receive micro-grants to help offset the costs of going digitaland provide support to digital trainers from a network of up to 28,000 well trained young Canadians.

  • Budget 2021 proposes to provide $1.4 billion over four years, starting in 2021-22, to:
  • Work with organizations across Canada to provide access to skills, training, and advisory services for all businesses accessing this program.
  • Provide micro-grants to smaller, main street businesses to support costs associated with technology adoption.
  • Create training and work opportunities for as many as 28,000 young people to help small- and medium-sized businesses across Canada adopt new technology.
  • Budget 2021 proposes to provide $2.6 billion over four years, on a cash basis, starting in 2021-22, to the Business Development Bank of Canada to help small- and medium-sized businesses finance technology adoption.

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Supporting Jobs And Growth In All Communities

As Canada builds back better, no community will be left behind. From the outset of the pandemic, regional development agencies have been on the ground across Canada, helping businesses weather the effects of the pandemic. Through the $2 billion Regional Relief and Recovery Fund, they have been providing liquidity to businesses, helping bridge them to the recovery, and preserving more than 125,000 jobs. To ensure businesses in every corner of Canada have the support they need to get through the pandemic and that they are brought along in our economic recovery:

Determine If Your Business Is Fundable

Before you seek out business support from a third party, make sure that your business concept and plan is viable and fundable, and that you have some data to back it up.

Its one thing to have a great idea, and another thing entirely to have an enduring and highly marketable product or service, says Craig MacMullin, President & CEO of CEED, a provincially incorporated NGO in Nova Scotia thats committed to advancing and supporting entrepreneurs. CEED offers hands-on experiential education, face-to-face networking opportunities, and practical financing solutions.

It is integral that the product or service is creating a solid and enduring solution to a problem that others truly need resolved, adds MacMullin.

To prove that youre sitting on a goldmine worth investing in, do your research. Find out who your target buyers are, and figure out a few compelling ways to demonstrate the need for your products in that niche.

The customer discovery process is so incredibly important from just about every angle: from a financing perspective, the more clearly and robustly you can prove you have customers for your businesses product/service, the much more likely you are to secure funding, notes MacMullin.

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What Canadian Business Grants Are The Best For Your Business

Lacking a central source of information on the hundreds of programs and organizations that run them can make it very difficult to find the right program and keep tabs on when it will begin receiving applications and whether or not funding is available. Fortunately, Mentor Works and are dedicated to bringing its audience up to date information on the most lucrative government funding for hiring programs.

Pause On Commercial Evictions

Canadian Government Grants Student Loans Scholarships Small Business Loans Free Money College Grants

The Government of Ontario is temporarily stopping or reversing evictions of commercial tenants and protecting them from being locked out or having their assets seized during COVID-19. This applies to businesses that were eligible for the previous Canada Emergency Commercial Rent Assistance for small businesses program or who have been approved for the Canada Emergency Rent Subsidy .

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Before You Apply For Grants To Start A Business

Once you find a startup business grant that meets your business needs, make sure to read through the fine print in the application guidelines.

An excellent first step in applying for funding is to contact the local government representative specified in the grant documents. They can verify whether your company meets the requirements for candidacy and provide up-to-date information about the funding opportunity.

You may need to submit a statement of intent to the funding body. Its a short document that outlines what your company does and why you think you should receive funding. Your statement helps the funding body confirm whether you should apply for the grant.

The funding body may let you know youre not the best candidate based on your statement, which can save you time so you can apply for something else.

Canada Community Revitalization Fund

Main streets, farmers’ markets, and other gathering places underpin local economies. In many communities, the most vibrant spaces in our communities have laid dormant as Canadians took precautions to stay safe. Recognizing that economic recovery is tightly linked to the vitality of our local communities:

  • Budget 2021 proposes to provide $500 million over two years, starting in 2021-22, to the regional development agencies for community infrastructure. These projects will stimulate local economies, create jobs, and improve the quality of life for Canadians from coast to coast to coast.

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Grants For Indigenous Entrepreneurs

Economic development fund: Participating First Nations can access this economic development fund that supports environmentally sound and sustainable economic development activities throughout the Great Bear Rainforest and Haida Gwaii.

Aboriginal Entrepreneurship Program The Aboriginal Entrepreneurship Program seeks to increase the number of viable businesses in Canada owned and controlled by Indigenous people. The AEP funds a broad range of entrepreneurial pursuits and aims to build capacity, reduce barriers and increase access to capital, by forging partnerships that will increase economic opportunities for First Nations, Inuit and Métis people.

Money for Indigenous Tourism Businesses in Northern Canada: If youre working on a project to enhance tourism experiences in your region or helping the community attract more visitors, you could get a maximum $100,000 non-repayable contribution for up to 50 per cent of your projects costs or a maximum $500,000 repayable contribution for up to 75 per cent of the costs. If youre also a non-profit, the contribution is most likely non-repayable.

More advice for your business community

Natural Sciences And Engineering Research Council Of Canada Alliance

How does Canadian government export grant help small ...

The NSERC Alliance Program supports 1-5 year research projects performed collaboratively between a Canadian university and innovation partner. Administered by Natural Sciences and Engineering Research Council of Canada , Alliance grants are not awarded directly to the partner, and instead directly offset a portion of university research fees to reduce the contributions required from a participating organization.

  • Amount: Up to 66% or up to 50% to a maximum $1 million/project/year OR Up to 90%-100% of eligible project costs to a maximum of $100,000/year.
  • Eligibility: Public, private, and non-profit organizations that can collaborate on research activities, use the projects research results and achieve its desired outcomes, and mobilize the research findings upon project completion.

The Interactive Digital Media Fund is an Ontario government grant that offsets a portion of costs directly related to concept definition and production projects. Through this program, digital media developers can leverage government funding to accelerate their growth.

  • Amount: Up to 50% of expenses to a maximum $250,000 non-repayable grant.
  • Eligibility: Be based in Ontario and Canadian-owned, have at least one owner or full-time employee with a minimum 3 years of experience in the creation or distribution of interactive digital media content, and be in a stable financial situation and have financial documentation to support claims.

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Aafc Canadian Business Grants For Agriculture

Beginning in mid-October the Agriculture and Agri-food Canada Career Focus Program will fund up to 80 internships across Canada in their related sectors to hire recent graduates from industry-related post-secondary programs.

  • Amount: Up to 50% of salary, up to $20,000 for a 4-12 month term.
  • Eligibility Factors: Interns must be employed for a minimum of 30 hours per week, be unemployed or underemployed at the time of hiring, and be a Canadian citizen or permanent resident. Company must operate in, or serve the agricultural and/or agri-food industry.
  • Timeline: Applications will be received mid-October while interns may begin in April.
  • Example Positions: Jr. Agronomist, service technician, food scientist

Mentor Works Government Funding Webinar Prerequisites

Due to the eligibility factors for many Canadian government grants, attendance is limited to businesses who meet the following criteria:

  • Incorporated in Canada for at least 2 years
  • Financially stable
  • Not a startup and
  • Manufacture or conduct R& D in Canada.

*Times listed are in Eastern Standard Time. Local times will show the event start and end times for your region.

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Are You Tapping Into Your Local Resources

EDC and several other organizations, programs and services are designed to give Canadian businesses a leg up when it comes to growth and selling internationally. By tapping into your local resources, you can obtain the assistance and guidance youll need to successfully expand your business and take it abroad. To take advantage of the opportunities available, you just need to know where to look.

Job Protected Leave & Canada Recovery Sickness Benefit

Find out about Canadian Government Grants or Loans For Your Small Business

Nobody should have to choose between their job and their health.

Ontario has introduced job protected leave in the Employment Standards Act

The CRSB provides $500 per week for up to 26 weeks for workers who have stopped working or had their income reduced by at least 50% due to COVID-19, and who are not eligible for Employment Insurance .

  • Are unable to work for at least 50% of the week because they contracted COVID-19
  • Are self-isolated for reasons related to COVID-19
  • Have underlying conditions, are undergoing treatments or have contracted other sicknesses that, in the opinion of a medical practitioner, nurse practitioner, person in authority, government or public health authority, would make them more susceptible to COVID-19.

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Resources To Prevent Covid

The Government of Ontario has released safety guidelines to provide direction to those working in a variety of industries, including manufacturing, food manufacturing and processing, restaurant and food service, and the agricultural sector, among others. These new sector-specific guidelines feature recommended actions employers can begin to plan for as they prepare to adapt to the new reality during COVID-19.

Funding Your Small Business Growth

The corporate and government business grants highlighted above are an introduction to the types of small business funding available in Canada. There are likely more that are relevant to your specific industry or business objectives. If you can locate a grant that fits your business, it can be a great alternative to raising capital through investors, personal debt, a business loan, or business credit.

If your business includes job creation, social enterprise, or technology innovation element, Canadian grant funds are looking to support you. Your formal application should, therefore, provide detailed information about your business model, current financial status, and business history.

For more grant options, search the Government of Canada website for listings of all the grants that are currently available. You can also search by category to find government funding options that are right for your business.

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Lending Loop Small Business Financing:

Lending Loop hasimplemented a temporary hardship program for borrowers that are currently distressed as a result of impacts of COVID-19. This program will allow Lending Loop clients that meet certain criteria to make interest-only payments on their loans for a period of 3 months to accommodate this unexpected event

Extending The Canada Emergency Business Account

Canadian Government Grants â Canada Small Business ...

The Canada Emergency Business Account has provided interest-free, partially forgivable loans to more than 850,000 Canadian small businesses. In December 2020, the government increased the value of the loan from $40,000 to $60,000 to help small businesses bridge to recovery. If a business repays their loans by December 31, 2022, up to a third of the value of their loans will be forgiven. In further recognition of the ongoing pandemic, the government recently extended the application deadline for CEBA to June 30, 2021.

A small number of businesses have faced challenges accessing the program, including Indigenous and rural businesses. To make sure these businesses are not left behind, the government provides similar support through the Regional Relief and Recovery Fund and Indigenous Business Initiative. To make sure these businesses can continue to access support:

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Receive Up To $1000000 In Loan Support

The Canada Small Business Financing Program helps Canadian small businesses secure loans by sharing risk with lenders, therefore making it easier to get loans from financial institutions. This program is offered through Innovation, Science, and Economic Development Canada and interested businesses can apply directly through their Canadian financial institution of choice.

Canada’s Regional Development Agencies:

If you are a tourism operator or small- or medium- sized business or organization impacted by the sudden shifts in the economy and need pressing assistance, the RDAs could assist you with:

  • Access to federal funding to help you stay in business.
  • Advice and pathfinding to other available federal programs and services.

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