How Do I Apply For Government Funding?

One of the biggest challenges any new business will have to go through is gaining enough capital to have daily operations even when you have zero sales or clients starting out. Businesses simply need money to operate, especially at the beginning. While there are many entrepreneurs that put up a lot of money themselves (which is expected), there are many other ways to gather enough funding in order to ensure more success in the first few years. Some entrepreneurs reach out to private investors, or wealthier friends and families, to invest in their idea with perhaps a promise of a return on their investment. Another way to gain funding is through a bank loan, however that accumulates interest and you will be paying more than what you received.

One of the ways to gain funding is through the Government of Canada. This is a source that a lot of entrepreneurs tend to overlook because they get turned off by the word “Government.” It stems back to taxes and how much the Government seems to take from its citizens. However, the Government of Canada wants small businesses to succeed. It is the greatest way to strengthen our economy and make communities happier, through new job opportunities created by a booming business. This is why the Government has plenty of funding available for small businesses, to gain capital and grants throughout the year. The best thing about most of this funding is that it is given to the business, rather than loaned to the business, so they will not have to pay it back. However, in order to obtain funding year after year, a business must prove that it is definitely having a positive impact on the country and the money is going to proper places.

So how should one go about applying for Government Funding? Well, first off it is integral to know that it is available at all levels of Government. There are grants at the municipal level, the provincial level, and then at the federal level. Each grant has its own set of criteria and a mandate. So to apply, first look at your local community and start from there. If you apply to all levels of Government, it is more likely that you will get a grant. All of these grants will be available to you from their websites (e.g. so if you live in Alberta, go to your provinces website and search “Business Funding, for Ontario do the same, etc.).

In order to obtain Government Funding, you will have to have a thorough business plan. The Government does not give away their money easily, as they want to know they are investing in a great business. There is a lot of competition for these grants and in order to stand out above the rest you need a professional business plan. The business plan builder tool we have will allow you to do this, even if you have never created one before. It will help you get one step closer to obtaining Government Funding.