How does a government grant work?

As a small business owner in Canada you may have heard of Canadian government grants. The Canadian government supports entrepreneurship and provides government grants across the country to various small business owners. But how does a government grant work? How do you get it? What can it be used for?

These are some of the questions that entrepreneurs ask when it comes to understanding government grants and funding.

While government grants are available for small business owners across the country, only certain individuals will qualify for government grants specifically.

Generally speaking, a government grant is provided to small business owners who qualify and meet the certain criteria.

The criteria of each government grant depends on the funding agency providing the funding. Contacting the funding agency offering the government grant it’s important to review the qualification prior to applying.

When you apply for government grants it’s important to build your business plan first. Within your business plan, it is important to explain your funding needs clearly.

By explaining your funding needs, you will have a better understanding of which government grants you may apply for.

Mainly, government grants are provided for hiring staff, training employees, turning your business eco friendly and green; or similar expenses.

Once the government grant is obtained, the usage of the funding is strictly controlled. Meaning, if you apply for a government grant to hire staff, you are only allowed to use the government grant to hire staff. Anything past that could result in a penalty and losing the grant.

If you have questions about government grants you can reach out to our experts for help. Get the answers you’re looking for and give us a call 1-800-288-9691

To see which government grants and other government funding programs you may be eligible for, try the Funding Calculator Tool.