The Truth about Small Business Grants in Canada by Government
Canadian Government Grants for Small Businesses: If you are running a small business or wants to go for new start-up in Canada, you might be looking for financing. You can seek loan, but to get a grant is hard to come by. Grant is usually what you won’t have to pay back; government of Canada usually offers loans or assistance programs for small business which provides some non-repayable contribution from them.
Small Business Grants in Canada
When you are looking for grant, you want some free money, but most of the grants are not free money actually, some strings are usually attached to the grant. For example, for a small business, the owner will have to invest some money and the government will contribute remaining. For a new start up, there will be certain conditions regarding type of business and where to establish a business and
Government Grants are specific
Usually government offers grant for small business to spur development in certain fields, say business that contributes to non-conventional energy sources or a business that creates job in rural sector or under-developed area. So, the grants can be specific to places or specific industry or purposes.
With a view to have better economic future of the country with new jobs and increase in tax revenues, government encourages small business and as such the federal, provincial, territorial, and municipal government provide financial assistance, loans, tax considerations and much more.
Canadian government is running such 956 funding programs for small existing and new business.
You just go to www.canadagovernmentgrants.org . Select the location where you have a business or want to start new one. Provide all the information needed and you will find funding options available in the area.
Some Canadian Federal/Provincial Government Grants provided are:
BC Government’s Buy Local Program (British Columbia)
It offers funding for the small businesses in the field of agriculture, seafood and food industries located in British Columbia. It is aimed at increasing local farming and food industries. The fund provided can be up to 50% of the project cost.
AVAC Ltd. (Alberta)
AVAC provides investment funding for research and commercialization for Alberta-based agriculture, renewable resources and industrial technology. It is a royalty-based funding provided to businesses which have potential to offer economic benefits in Alberta
Export Market Access (Ontario)
This program offers funding to assist small export businesses. The funding can be up to 50% of project cost limited to maximum $150,000. The program provides assistance to business located in Ontario having more than 5 employees and revenue above $500,000.
Emerging Music Business Program (Nova Scotia)
This program is to encourage emerging artists, industry professionals or Registered Societies in Nova Scotia. It offers 50% grant for a project with cost up to $4,000.
Fondation du maire de Montréal pour la jeunesse (Montreal)
This grant is offered for start-up business in a borough or a reconstituted city of Montréal and to those who are Canadian citizen or permanent resident and having age between 18 and 35 years. The fund provides 25% of business costs that can be up to $30,000.
Marketing Support Program (Prince Edward Island)
This program provides up to 40% costs for market research studies to manufacturers, processors and services providers in the field of food industry, bio-science, information technology, craft etc located in Prince Edward Island.
Natural Stone Assessment (Newfoundland/Labrador)
It offers grant up to 75% grants for exploration and resource assessment on new or under-developed natural stone industry. The grant can be up to $50,000.
To get small business grant, do good home work, get eligibility, apply for it and you get enough funding!
More Related Tags:
- Start up business grants Canada
- Free Canadian grants
- Government grants in Canada for new business
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