Signs that your Small Business needs Government Assistance

The fact that you are on a government grants and loans research website tells you one thing. Your small business needs government funding assistance.

Aside from the obvious, what are the in-depth signs that your small business may need government help?

Whether your business is a start-up, or an established business – government assistance may come in a variety of forms. Your government may be able to help you by providing your small business with tax credits, government grants, government loans and even business consulting.

If you’ve hit a road block and can’t move forward with your business venture due to capital restraints, and you’ve tried going to the banks, you used up your credit cards and have run out of resources – these are all signs that you need government assistance.

You are in luck. The Canadian government provides entrepreneurs with money (if you are eligible) for a variety of purposes such as funding for start-ups, funding for expansion and growth, funding for renovations, maintenance and upgrades as well as to hire and train staff, for marketing and advertising and much more.

Once you’ve decided that your government can help you, your first step should be to try to find programs which are for you and your small business, based on eligibility criteria set forth by the funding agencies. This criteria will determine whether you are able to apply, and if there is any money or assistance you may receive.

Applying to programs is the next step once you’ve determined which programs are out there for your needs. In order to apply, a good business plan and strategy should be in place for your small business. This will not only help agencies pick you as the funding or assistance recipient, but it will also tell you where you are lacking and what you need help with.

If you see the above mentioned issues (going to the bank for a loan, using your credit cards, running out money), and have still come up empty and need further help – these are the true signs you need your government to step in and help.