Government Grants Defined In Just A Few Paragraphs

When starting a small business, one of the most important things you will need to do is obtain funding. You have to expect that in the first few years you will not be earning enough profits to run your daily operational costs! And that is completely okay! It is actually expected to be that way. However, in order to stay alive enough capital must be in place to keep operations going even through difficult times. This is where funding and financing come into play.

One of the best places to get funding for your small business is through Government Grants. The Government of Canada has set aside millions of dollars to help fund small businesses. One of the best things about this country is that the Government wants you to succeed! A successful business helps Canada as a whole, which is why they are willing to invest in a fantastic business idea with a great plan.

Government Grants are available at every level of government. There are federal grants given out, provincial grants, and municipal grants. For the provincial and municipal grants, you small business must reside in that specific area in order to be eligible. There are so many Government Grants that you need to go through and check what ones you are even eligible for. There is no point wasting time applying to a Government Grant your business cannot qualify for.

A great tip for applying for a Government Grant is to first start out locally. Go to your local MP or your local Government office/website and see what small business grants they have. From there, look at what your province is offering, and then finally look at the federal grants. If you are just starting out you are more likely to obtain grants in your region rather than competing with businesses across Canada.

The most important aspect of any application to the Government is your business plan with a detailed budget included. Think of this as your entire sales pitch. The Government is very particular about who they give their money to. They simply do not want to fund a business that is not clear or is run by someone they cannot trust. If a business plan is not well thought out and does not sell them on what you are doing, you will not obtain funding.

To create a professional business plan, use our “Business Plan Builder,” tool. It is has been created to help new small business owners create a plan without any prior business plan experience. All you have to do is simply fill in the blanks and we will do the rest. You will have everything you need in order to apply for Government Grants, including a detailed budget.

The Government wants to know where their money will be going and why you need it. This is why a detailed budget is important so they know how much you have raised yourself and how much you will need.