Have You Checked if Your Small Business is Eligible for a Government Grant?

When starting a small business, it is important to be aware of all the potential sources of funding that are available to you. One source of funding that you may not be aware of is government grants.

In Canada, there are many government grants available for small businesses, and in this article post, we will be discussing some of them.

• The Canadian Agricultural Partnership program offers a number of different grants for businesses in the agricultural sector. Some of these include the Agricultural Diversification Program, which supports businesses that are diversifying their operations, and the Farm Debt Mediation Service, which helps farmers who are facing financial difficulties.
• The Canadian bioscience industry is supported by the Bioindustrial Innovation Canada program, which offers grants for businesses working in fields such as renewable energy, food processing, and bioproducts.
• The Canadian Trade Commissioner Service offers grants for businesses that are looking to expand their operations into new markets. This includes support for marketing initiatives, trade missions, and market research.
• The Canadian Youth Business Foundation offers loans and mentorship programs for young entrepreneurs between the ages of 18 and 34.
• Indigenous Services Canada offers a number of programs and services that support Indigenous business owners, including the Aboriginal Entrepreneurs Program and the Aboriginal Business Directory.
• The Natural Sciences and Engineering Research Council of Canada offers funding for businesses working in fields such as clean technology, health care, and information technology.
• The Regional Development Agencies offer funding for businesses in specific regions of Canada. For example, the Atlantic Canada Opportunities Agency offers support for businesses in Atlantic Canada, while the Western Economic Diversification Canada supports businesses in western Canada.
• There are also many sector-specific organizations that offer funding for businesses working in their respective fields. For example, the Aerospace Industries Association of Canada offers funding for aerospace companies, while Seed Funding offers funding for startups in the tech industry.
• The federal government also offers a number of tax incentives for businesses that are investing in certain areas such as research and development or hiring new employees. These incentives can reduce the amount of taxes that your business owes or provide you with a refundable tax credit that can be used to offset other expenses.
• Lastly, there are also a number of provincial and territorial governments that offer their own programs and services to support small businesses in their jurisdictions . For example, the Ontario government offers the Northern Ontario Heritage Fund Corporation , which provides financing for projects in northern Ontario .

How to determine if your small business is eligible for government funding?

The first step is to use tools such as the Funding Database which will list out all of the government grants, government loans and tax options across Canada. The Funding Database will list out funding options from the local, provincial and federal governments of Canada for you to access – currently, with over 1,500 funding options available.

From here, you can browse through the list of programs and services that are available. Each program will have its own eligibility requirements, so it is important to read through these carefully before applying.

Once a funding option is found that appeals to you, ensure that you cover the 3 main checks:

1. Is the grant or funding program available in your location?
2. Does the grant or funding option cover your specific industry?
3. Confirm if the grant of funding program has the budget to fund the specific needs you have?

After confirming, the next step is the funding application.

As over 80% of government grant and funding applications are denied at this stage, often due to simple mistakes, it is a good idea to consult with a professional grant writer or consultant. These individuals can help you to identify which government grants you may be eligible for and assist you with the application process.