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How Government Grants Are Helping Small Businesses In Canada?
Do you know how beneficial can business be to you? If yes, it’s fine. If no, just google “Forbes list of the Top 10 Richest People in the World”. All of them are businessmen, one way or the other. So, did they woke up one fine day and found a billion-dollar deal on their table? Of course, not. All those big daddy business owners with millions in their pocket were not born rich. In fact, being rich is not a necessity to start your own business. It just needs a strategy, decisive ideology and the most important thing, Idea! A small start-up with a big aim can one day lay golden eggs for you. The Canadian government has a lot of things in the box for you to get started. Let’s look at some of the small business grants Ontario :
For Particular Industries:
Agri-Marketing Small and Medium Entrepreneurship Components, or the SMEs, provide funding to the start-ups in agriculture or agriculture based sectors. Eligibility depends on various factors such as credit score and past records, and one can avail a funding of upto $250,000. That’s a good amount to kick start your business. Center of Excellence in Next Generation Networks (CENGN): It targets the businessmen and researchers who are ‘looking to accelerate the commercialization of their innovative communications technology, products, applications or services’. One can be eligible for the funding in fields such as IOT (Internet of Things) Apps, Network Function Virtualization, cloud computing, etc.
Small Business grants for all:
Apart from providing you with the funding, these grants may even assist you in your work, or provide hands-on training. There are two main initiatives in this category:
Self-Employment Program: This program is one of the best till date, as it ensures income support while the work is being done for a year. The physically disabled people can avail the income support for as long as 78 weeks. For availing its benefits, Employment Insurance Eligibility is necessary. This way you can get small business grants. Summer Company: This is a boon for the students in Ontario. This scheme allows grants upto $3000 for the students aged 15 to 29. Add to that a hands-on Entrepreneurship Training and support! The students can run their own business with such comfort! For getting enrolled in this program, you must not be eligible for any other government funding initiatives.
Export Market Access:
Export for small businesses? Well, it’s true. The government has designed this program to help the small business owners to be able to export their products. Grants upto 50% are provided on the cost of projects which yield a maximum of $150,000 export sales.
Northern Ontario Heritage Fund (NOHFC) Programs
These programs were introduced in order to support the SMEs. The funding is provided for many fields and there are sub-programs attached to it. Various grants and funding are provided for business expansion, New investment, small business start-ups, technology driven projects and internship.
In this way, the Canadian government is ready to help you set up your business in whatever field you want. You just need to start, and you are ready to conquer!