How To Get Government Funding In 3 Easy Steps
As a small business owner in Canada, you’ve probably considered government funding as an option to fund your small business. If you haven’t, there are hundreds of government funding programs for small business owners across Canada and here is a way to get government funding in 3 easy steps. Well, to find it and to apply to it at least (that’s a start).
How To Get Government Funding In 3 Easy Steps
Step #1: Create your business plan
Your business plan is one of the most critical components that any business can have when trying to get government funding.
Without a business plan, you are pretty much asking to be denied funding by the government.
Why is that?
A properly developed business plan, especially a business plan that is geared towards your government funding search is actually going to answer any and all questions a government funding agency may have.
This is highly recommended in order for the government funding agency to approve your small business.
If you’re unsure how to create a business plan, consider using our Business Plan Builder Tool as it will guide you step by step through the plan creation, and our business plan experts will help guide you and review your plan as well.
The best business plans will answer the questions of who you are, what you are offering, how it helps the customer, what you need in terms of funding, how much you need, what you need it for and will provide an approximate timeline as to when the funds are needed.
Step #2: Starting your government funding search
Your business plan is always the #1 step to getting government funding for your small business. Bu now, hopefully you will have that and be on your way to step #2, where you will start your search to get government funding for your business.
Where do you start your search for government funding?
What do you search for?
How much do you ask for?
What do you really need? Do you really need it?
These are typical questions a small business owner may have when looking to get government funding.
In the first step, developing your business plan, you would have answered most of these questions in your business plan.
It is important to know how much funding you need, what you need it for and by when. This is not something you just guess on, but it is an approximate based on your funding needs as per your business plan.
To start your funding search you have to be able to break down your funding needs to specifics such as:
- Hiring Staff/Wage support
- Training employees
- Purchasing tools and equipment or supplies
- Paying for marketing and advertising costs
- Improving cash flow
- Making lease hold improvements
- Conducting R&D
- and more
The more you break down your needs, the better your chances of getting government funding will be.
Simply because government agencies break down the funding programs into “funding needs” similar to the ones mentioned here.
Breaking down your needs and showing the specific amounts you need for each need will result in a greater chance of getting funding then if you were to group them together, because you will be able to apply to more then one program.
Finding government funding programs is the difficult part.
You can spend weeks upon weeks browsing the web looking at various funding options, even the Canadian government website, but it’s not guaranteed you will find the info (or that you want to spend that much time looking when you could be doing other things for your business, especially if you are just starring up).
The alternative way of searching for funding that end’s up saving you a lot of time, is step #3; getting professional help!
Step #3: Getting professional help
Getting professional help when searching for government funding and when it comes to your small business sounds scary right? Sounds expensive? You’re just a small business…
While this may be true to an extent, those small business owners who are serious about their business and the government funding search (or just want to save time and get advice/help) do turn to experts for help.
There are experts who assist on a hourly basis, some do it with free advice, some do it a with conditions and some do it for a % of the funding secured. We at CanadaStartups.org do it a bit differently, and price our expert professional assistance quite low to ensure your success.
Our Small Business Startup Portal, helps individuals startup, to build a business plan, to search for funding and our funding experts take you step by step through the entire process and help! So there you go, step 1, step 2 and step 3 covered just like that.
The fee for our platform is $297 (a one time fee) which you can register for right here, and get your access immediately.
Expert help is valuable as it provides you instant access to the results you are seeking. While getting government funding is not guaranteed by non other then the government agency providing the funds itself, getting exert help with your business plan, with the government funding search and the entire process is highly recommend.
In fact on average those who use our Funding Database find funding programs they can apply for within a day or two, while an average person searching on their own takes between 4 to 6 weeks.
Talk about time savings!
These are the ways to get government funding in 3 easy steps, but now it’s up to you how you wish to take it to the next level.
Do you know ho much funding your small business is eligible for?
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