How To Find Funding Programs Offered By The Government

For any small business entrepreneur starting out, the hardest part even before you start is gaining enough funding for your business to run successfully. This is also called the craft of building capital. If your business does not have enough capital to begin with, there will not be enough money to last through your first year: GUARANTEED!

This is why finding great sources of funding are integral to your overall success and to give you piece of mind when you are just starting out.

Most entrepreneurs invest a lot of capital themselves, through personal savings and their assets, and then turn to the bank for a small business loans. While banks can be great for getting your business off its feet, there is definitely a price tag attached.

Banks hand out loans, which accumulate interest and will cost you a lot more than you expect.

This is why it is worth it to take a look at other funding sources such as through the Government of Canada.

Most entrepreneurs usually overlook even working with the Government because it seems much easier to get a bank loan. However, that is not always the case. While there is a great deal of competition for getting a Government Grant or a loan, there are a few hidden ones that can be discovered if you know where to look.

The reason gathering funding from the Government is so important is because it is mostly made up of grants, which you won’t have to pay back. However, in order to get them, the Government must be assured that your company is going to work and going to help Canada overall by improving its economy and creating great jobs.

So where should you start looking?

We recommend looking at the three branches of government and starting out small. So that means municipally. Go to your local town or region’s website and begin looking around for grants that are offered in your district alone. You can also do this by emailing your local MP and asking them, I assure you they will point you in the right direction. Next, look for provincial grants. Every province and territory has different grants pertaining directly to the citizens that reside there. Go to your province’s main website or simply Google: “grants for businesses (insert your province/territory’s name)”.

Finally, you can look for federal funding for your small business. The reason I always say to start out small is it is usually easier to gather funding locally before reaching out federally. The federal government usually looks at already established businesses.

At CanadaStartups we provide you with all of that, already research and done in our Funding Database available to you. It has over 1500 funding sources and will greatly help you narrow down your search for Government funding programs and when their due dates are. It is such a valuable resource that will save you time and helps you make sure you don’t miss out on a great opportunity to fund your small business.