Starting a small business can be a big undertaking, and it often requires both financial resources and expertise. Fortunately, there are plenty of Government business grants for small businesses available in Canada. So many of these grants can help budding entrepreneurs get their ideas off the ground. In this blog post, we will take a look at 10 of the best small business grants for Canadian entrepreneurs.
Different Organizations offering Small Business Grants
1. The Ontario Network of Entrepreneurs (ONE): The ONE provides access to free online courses, events, mentorship programs and other resources designed to help Ontario-based entrepreneurs start and grow their businesses. Also, ONE provides grants to small businesses. To qualify you have to have been operating for at least three years and have fewer than 100 employees.
2. The Business Development Bank of Canada (BDC): The BDC provides financing options and advice for Canadian entrepreneurs looking to start or expand their businesses. They also offer several grants designed to help entrepreneurs get the funding they need to succeed, including the BDC Start-Up Financing program, which offers up to $50K in financing for new businesses with high potential for growth.
3. Futurpreneur Canada: Futurpreneur offers expert advice and mentorship programs tailored specifically for young entrepreneurs aged 18-39 who are looking to start their own businesses. They also provide funding up to $15K per project through their Start-Up Program.
4. Women Entrepreneurship Fund (WEF): This fund provides financial support up to $50K for female entrepreneurs looking to start or grow their businesses in Canada. This includes women from all backgrounds who are facing unique challenges due to gender discrimination or socio-economic factors such as poverty or disability status.
5. CanExport: This government program provides funding up to $100K per year for Canadian companies looking to expand into foreign markets or develop international partnerships and collaborations with other countries around the world.
Rural and Regional Organizations
6. Rural Economic Development Initiative (REDI): REDI provides up to $75K in funding for rural communities looking to promote economic growth by developing new services, activities or products related directly or indirectly with agriculture production and processing operations in rural areas across Canada
7 . ACOA’s Regional Economic Growth Through Innovation (REGI) program: This program provides up to $100K per project for innovative projects undertaken by private sector companies located within Atlantic provinces who are looking create jobs in communities across the region while increasing export activity outside of Atlantic Canada
8 . Western Diversification Program (WDP): WDP is a federal grant initiative funded by the Government of Canada that offers support up tp $50K per project aimed at promoting economic diversification and job creation across western Canadian provinces such as British Columbia, Alberta, Saskatchewan, Manitoba and Yukon Territory
Internship and Research Organizations
9 . Mitacs Accelerate Internships: Designed specifically for early stage startups , this internships program provides youth with specialized skills like data analysis , software development , engineering , marketing etc., on an 8 months basis , enabling them work on specific projects within your Startup . As an employer you can receive up to 50% match from Mitacs towards intern salaries!
10 . National Research Council IRAP Program: NRC’s Industrial Research Assistance Program (IRAP) helps innovative SMEs increase their competitiveness through technical services delivered by professionals dedicated exclusively towards helping SMEs innovate . Eligible recipients can receive up tp $500k per project!
Conclusion
Starting a new business is no easy feat, but there are plenty of resources available that can make it easier – namely, small government business grants! From getting access to free online courses through Ontario Network of Entrepreneurs (ONE) all the way up to receiving funds from NRC’s Industrial Research Assistance Program (IRAP), these small business grants provide invaluable assistance when starting or expanding your business here in Canada! If you’re an aspiring entrepreneur looking for some extra financial assistance – don’t miss out on exploring these grant opportunities! If you enjoyed reading this article, please share your comments or questions with us at the bottom of the post.