Mentor Works Ltd. http://www.mentorworks.ca The Canadian Government Grants and Loan for Business Experts Thu, 30 Jun 2016 11:31:04 +0000 en-CA hourly 1 These 3 Factors Will Define the Canadian Manufacturing Sector in 2016 http://www.mentorworks.ca/blog/market-trends/canadian-manufacturing-sector-trends-2016/ http://www.mentorworks.ca/blog/market-trends/canadian-manufacturing-sector-trends-2016/#respond Thu, 30 Jun 2016 11:31:04 +0000 http://www.mentorworks.ca/?p=24861 Canadian Manufacturing Trends and Government Business Grants in 2016

The Canadian manufacturing industry remains cautiously optimistic moving forward in 2016. While some sectors within the manufacturing industry are seeing rapid growth, others are stagnant or contracting due to a variety of economic and labour issues. This type of uncertainty isn’t new to manufacturing executives, but being able to plan ahead and execute growth strategies […]

The post These 3 Factors Will Define the Canadian Manufacturing Sector in 2016 appeared first on Mentor Works Ltd..

]]>
Canadian Manufacturing Trends and Government Business Grants in 2016

The Canadian manufacturing industry remains cautiously optimistic moving forward in 2016. While some sectors within the manufacturing industry are seeing rapid growth, others are stagnant or contracting due to a variety of economic and labour issues.

This type of uncertainty isn’t new to manufacturing executives, but being able to plan ahead and execute growth strategies is becoming increasingly important. To effectively lead through this period of change, manufacturers need to understand how their industry is changing over time.

PLANT Magazine, a leading national publication for Canadian manufacturing news, in partnership with Grant Thornton LLP administers annual manufacturing surveys known under the title Manufacturers’ Outlook. The data collected through these surveys are provided by senior managers from manufacturing firms across Canada and benchmark a variety of key performance indicators (KPIs) that measure the Canadian manufacturing landscape.

The following figures have been pulled from the Manufacturers’ Outlook survey from last year (2015) and this year (2016) to provide trends and show where manufacturers are headed into the future. Extra commentary will be provided to give manufacturing executives some guidance about ways to overcome difficulties and build a stronger business.

1. Manufacturing Business Structure, Markets, and FinancingNumber of Employees

This year’s employment figures are fairly consistent with 2015 aside from one significant increase in the rate of small businesses. Manufacturers employing 1-24 people rocketed up from 33% to 38% in the past year.

Although this is likely a sign of new manufacturers entering the market, one must also notice a minor drop in employers hiring 25-49 employees. Contraction of mid-sized employers is not an encouraging sign for the manufacturing industry, and employers should continue evaluating options that will enable them to grow the size of their workforce.

Growth ConstraintsComing as no surprise to many, the top manufacturing growth constraint is having a fragile economy. It’s tough for businesses to forecast future demand and performance, thus making it difficult to confidently make investments.

On a positive note, fewer manufacturers are citing other growth constraints, including a 5% reduction in production capacity. Although limited, business investments over the last few years are beginning to offer increased production capabilities and fewer concerns about meeting demand for their goods.

Increased production capacity will enable many manufacturers to enter new markets over the next few years, of which, expanding into the United States remains the most popular option. Fewer companies are feeling restricted by internal trade barriers, which will also increase the amount of markets available domestically.New Markets Entering 3 Years

Outside of North America, European markets are becoming more
favourable to Canadian manufacturers
. Asian markets such as China, India, Japan, and Korea will offer manufacturers with additional opportunity, however no significant increases or decreases in these markets were noted over historic values.

Among the greatest anticipated business changes over the next three years are hiring new employees (60%), adding new lines of business (40%), acquiring companies or lines of business (28%), and expanding plant size (27%).

Anticipated Changes 3 YearsThese metrics overwhelmingly indicate that businesses plan on growing over the next three years. These changes will be implemented by maintaining the right mix of employees and automated processes to ensure that the business can keep up with demand.

But how will manufacturers actually finance this expansion? The industry that has traditionally been financed through internally generated cash flows, however manufacturing executives are shifting away from this model. This year, only 48% of companies will use retained earnings to support business expansion. Their financing will increasingly come from banks (41%), private investors (27%), and private equity (17%). Canadian government funding programs remain a distant consideration for many manufacturerFinancing Methods 3 Yearss; only 16% will choose to pursue government funding through grants and loans, as well as the SR&ED research and development tax credit.

Canadian business grants and loans provided by the government are an excellent way to extend internally-generated cash flows and provide funding for your company’s next project. The 16% of manufacturers who plan on using these programs over the next three years will have access to more funding and will be able to expand their business in a faster, less risky way than if they relied on retained earnings alone. Learn more about Canadian government grants.

2. Manufacturing Industry’s Commitment to Research and Development

Revenue to InnovationThe Canadian government has urged businesses, especially manufacturers, to develop an innovative mindset going into the future. Canadian businesses lag behind other developed nations in terms or research and development spending, and it will only become a bigger problem in the future. Without constant innovation, Canadian businesses will lose competitive advantages compared to other countries and earning potential will suffer as result.

Many Canadian manufacturers currently devote 1-3% of company revenues to innovative projects, while 10% of manufacturers contribute none of their budget towards research and development. Although this remains shockingly high, there is significant improvement over 2014 when 17% of companies were not performing R&D projects.

Innovation AssistanceAs shown on the graph, an increased number of businesses will be spending 4-10% or more of their budgets on innovative research and development projects this year. This increase will help businesses diversify their product offerings and ramp up production methods to ensure that they can keep up with growing demand.

When questioned about what would help manufacturing executives to increase their commitment to innovation, 47% cited lower tax rates on income generated from innovative projects to be important. A close second, 42% of manufacturers cite easier access to funding being an issue. Higher Canadian government funding contributions and easier eligibility requirements would also greatly increase the ability for manufacturers to implement more research and development projects.
There are a variety of Canadian government funding programs that directly support business research and development projects.

The most common of these programs is the Industrial Research Assistance Program (IRAP) which can offer businesses up to 50% of contractor labour fees and up to 80% of internal labour costs that are required to solve a business’ internal technical challenges.

3. Workforce Development and Manufacturing Training for Employees

Employees are the foundation of any successful manufacturing business. Manufacturers often cite the lack of skilled labour in Canada to be a main constraint to growth, and overcoming this challenge can be quite difficult. In order to grow and provide the products and services demanded by global customers, manufacturers must find a way to close the widening skills gap and ensure they can keep up with their competition.

Skills ShortagesWhat are the major skills gaps identified by manufacturers? Shockingly, business development professionals top the list this year. Sales, marketing, and customer support staff are needed to continue growing the business in a competitive, valuable way.

Behind those positions, production (35%), engineering (25%) and general labour (23%) workers are needed to keep business operations running smoothly. These skilled labourers are always in demand by growing companies, however ongoing training programs have helped manufacturers ensure that they have the skills needed to complete design and production tasks.
Skills Gap ClosingInternal training programs lead the way for manufacturing skills development with 50% of companies reporting that they provide these types of training to their staff. Staffing services and outsourcing positions is another popular method with 30% of manufacturers reporting that this is part of their overall strategy. Among some of the less-used options are using post-secondary apprenticeships (22%) and recruiting economic immigrants who are seeking high-value, well-paying jobs in Canada.

With so many manufacturers leaning towards providing training programs for their employees, they must also consider the cost of providing training as opposed to recruiting employees that already have the skills. As a percentage of revenue, half of Canadian manufacturers will spend 2% or less of their revenue of skills training programs, while an additional 24% of manufacturers will spend between 2-4% for these programs.
Skills Investment

Manufacturers might not know the extent of Canadian government funding programs that are available for them to train their workforce. Several business grants exist to provide internal or third-party training programs. One of the most common programs available to manufacturers is the Canada Job Grant, a federal initiative with streams that are specific to individual provinces. For example, the Canada-Ontario Job Grant (COJG) provides employers with up to 66% of third-party training costs. For small businesses with less than 50 full-time employees, this contribution is increased to 83% and can cover employee payroll costs while the training is being performed.

Find Small Business Grants and Loans Canada

Recent Manufacturing News:

The post These 3 Factors Will Define the Canadian Manufacturing Sector in 2016 appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/market-trends/canadian-manufacturing-sector-trends-2016/feed/ 0
After the Vote: What Happens after Voting to Brexit http://www.mentorworks.ca/blog/market-trends/brexit-implications-on-canadian-business/ http://www.mentorworks.ca/blog/market-trends/brexit-implications-on-canadian-business/#respond Wed, 29 Jun 2016 11:44:30 +0000 http://www.mentorworks.ca/?p=24857 Brexit's Effect on Canadian Business

Great Britain has officially begun the process of exiting the European Union after a highly contentious, and incredibly narrow vote to leave. There were immediate impacts in international markets – a global sell off of the Pound saw the currency hit its lowest point since 1985. Global markets (including the TSX) dropped substantially, and virtually […]

The post After the Vote: What Happens after Voting to Brexit appeared first on Mentor Works Ltd..

]]>
Brexit's Effect on Canadian Business

Great Britain has officially begun the process of exiting the European Union after a highly contentious, and incredibly narrow vote to leave.

There were immediate impacts in international markets – a global sell off of the Pound saw the currency hit its lowest point since 1985. Global markets (including the TSX) dropped substantially, and virtually all markets went red as analysts and economists try to wrap their head around the implications of the Brexit.

“Once Britain severs ties with Brussels it’s unknown how trade with Britain will look for many countries.”

We can expect markets to settle in the near future, however Brexit will have long-term and far reaching impacts. In this article I will assess some of the possible next steps for Great Britain and how the Brexit will impact global markets, including the Canadian economy.

Brexit Voting was Just the Beginning of the Process

The Brexit vote was unprecedented and will have significant impacts on the status of the E.U. for generations to come. It represents the first member state who has had a referendum and voted to leave the Union. Historically, states have been pushing for membership into the E.U., so in many ways we are entering into uncharted waters. There are many unknowns at this point, but the one thing that we do know for sure is that this will be a very long process.

The E.U. government in Brussels now needs to start a negotiation process with Great Britain on the terms of exiting. David Cameron, current P.M. of the U.K., has stated he will resign in the fall so we may need to wait until new leadership emerges before the exit negotiations can formally begin. Analysts are currently speculating that the negotiation process could take upwards of two years to complete.

Again, this is all new, both for Britain and the Union. Both parties will be trying to maximize their return on negotiations, however the European Union will need to exercise a tremendous amount of caution as this could potentially set the tone for other states who feel less than satisfied with their relationship with Europe.

How Brexit May Affect Future Sovereignty Movements

Similar to Quebec’s (at times) contentious relationship with the federal government of Canada, there are several sovereignty movements within the E.U., and seeing Britain withdraw from the E.U. may provide momentum to more disruption within states. Discussions of independence from Britain in Scotland and questions of Northern Ireland’s relationship to the U.K. are likely to resurface given the referendum result.

Scotland has already firmly stated their opposition to the result and Scottish First Minister Nicola Sturgeon stated: “[Scotland] proved that we are a modern, outward-looking, and inclusive country, and we said clearly that we do not want to leave the European Union…I am determined to do what it takes to make sure these aspirations are realized.” She further indicated that a referendum on Scottish independence is “highly likely”.

Similarly, Northern Ireland (the only part of the U.K. that shares a land border with the E.U.) has a lot at stake here. Withdrawal from the E.U. may lead to border controls between Northern Ireland and the Republic of Ireland being reimposed, moreover this would see the end of transfer payments, to which Northern Ireland has benefited tremendously.

Further out on the horizon, this may impact other sovereignty movements in the European Union. Belgium, which is coincidentally the home of the European government, has a fairly divided society. In 2010 the government fell, partly based on tensions between decaying relations between the Flemish and Walloons. At the time there were calls for partitions, independence, and the creation of new states. Although the situation is stable, the economic instability as a result of Brexit may lead to calls for independence again.

Catalonian separatists in Spain may also use this as a momentum builder to push harder for independence. Tensions in Spain are worsened by a fairly unstable political situation in Madrid, as well as a fairly bleak economic situation that disproportionately impacts youth (upwards of 40% of youth remain unemployed).

Brexit’s Far Reaching Trade Implications

Most analysts agree that Brexit will significantly alter Britain’s relationship with the continent. Under European law, trade between member states was fairly straightforward. However, once Britain severs ties with Brussels it’s unknown how trade with Britain will look for many countries. There are questions of whether or not the U.K. will need to develop a new trade deal with Europe, will new tariffs develop, if protectionist movements in the E.U. will limit trade to the U.K., etc. Beyond this, however, there are important implications for the global economy to consider as well.

Canada will need to re-evaluate its trade relationship with both the E.U. and the U.K., especially in light of the forthcoming Canada-European Trade Agreement (CETA). Although I expect relations with the U.K. to remain positive, it will be difficult to develop trade agreements with the E.U. and U.K. separately. Given how complex CETA negotiations have been, with both sides making concessions and protecting various interests, negotiating terms with a new party will be difficult.

Canadian Small Businesses will be Impacted by Brexit

Once the dust settles on Brexit it will be interesting to see how Canadian companies deal with Britain. In the short term there should be minimal changes, however once CETA is enacted this may lead to preference to dealing with the continent before Britain, thereby reducing Canadian trade to Britain.

Nonetheless, given the importance of Britain to Canada (both historically and economically) I expect that a new agreement will be developed. Small businesses in Canada who rely on easy access to international markets may end up focusing efforts on developing exports on the continent as opposed to the U.K. If a small business is able to access the European market with limited (if any) tariffs or red tape, it’s easy to see why they would focus efforts here.

Ultimately, Canadian businesses can leverage export-focused government funding programs to help subsidize export development activities, so this will still provide Canadian businesses with lots of opportunity to develop in the U.K., Europe, and beyond.

Canadian Small Business Funding News

Recent International Business News:

The post After the Vote: What Happens after Voting to Brexit appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/market-trends/brexit-implications-on-canadian-business/feed/ 0
Ontario Wine Industry Receives $856,000 in Government Business Grants http://www.mentorworks.ca/blog/government-funding/ontario-wine-industry-receives-government-business-grants/ http://www.mentorworks.ca/blog/government-funding/ontario-wine-industry-receives-government-business-grants/#respond Tue, 28 Jun 2016 11:27:34 +0000 http://www.mentorworks.ca/?p=24854 Growing Forward 2 Ontario Supports Wine Industry

20 wineries from across Ontario were announced as recipients of government funding during Ontario Wine Week 2016. These 20 growing businesses will receive a total of $856,000 to continue their growth and contribution to the local economy. This investment provided through Growing Forward 2 (GF2) Ontario renews the province’s commitment to aiding the expansion and […]

The post Ontario Wine Industry Receives $856,000 in Government Business Grants appeared first on Mentor Works Ltd..

]]>
Growing Forward 2 Ontario Supports Wine Industry

20 wineries from across Ontario were announced as recipients of government funding during Ontario Wine Week 2016. These 20 growing businesses will receive a total of $856,000 to continue their growth and contribution to the local economy. This investment provided through Growing Forward 2 (GF2) Ontario renews the province’s commitment to aiding the expansion and profitability of agricultural processors.

The funding will help to support the explosive growth happening in Ontario’s wine industry and ensure wineries are able to maintain sufficient production that meets global demand. Between 2010 and 2014, Canadian wine exports increased by 332% in volume, however Canadian production levels still represent less than 1% of global wine production. Ontario is Canada’s top contributor of wine exports and shipped $26.6 million worth of product in 2014.

Food and beverage processing is being targeted as a high-priority sector and companies may access government business grants through Growing Forward 2 Ontario. The program offers small business funding for a range of productivity and business expansion projects. Eligible agri-food processors may receive up to 35-50% of project costs to a maximum of $350,000 in Ontario government grants, $100,000 of which can support capital equipment adoption.

GF2 Ontario Funding in Action: Norman Hardie Winery

One of the 20 awarded businesses was Hardie Wines Limited, also known as Norman Hardie Winery. The company received over $43,000 through Growing Forward 2 Ontario to purchase a state-of-the-art wine press with specialized oak barrels, as well as a stackable wine tank system. Both investments will help the business to expand production, grow their brand recognition domestically and internationally, and leverage new economic opportunities.

“We welcome the government support to increase the efficiency of our winery and contribute to its growth… This investment will help us to continue to craft high quality wines straight from Prince Edward County to the glasses of wine lovers.”
– Norman Hardie, Owner of Hardie Wines Limited

How Growing Forward 2 Ontario Assists Small Business Growth

Growing Forward 2 Ontario is a federal-provincial initiative that utilizes a combination of funding to support agricultural producers, processors, and organizations. The 5-year program (available until 2018) supports agri-food industry projects that modernize and innovate a business’ operations and enable higher productivity.

Projects that increase a business’ competitiveness, both domestically and internationally, may be considered for Ontario government grants valued up to $350,000. Businesses applying to the Growing Forward 2 Ontario program should have a project that fits one of the 6 program focus areas, including:

  1. Productivity and Labour Enhancement;
  2. Market Development;
  3. Leadership and Business Development;
  4. Plant and Animal Health;
  5. Environment and Climate Change Adaptation; and
  6. Assurance Systems.

Apply for Growing Forward 2 Ontario Government Grants

A wide range of agricultural producers and processors, including wineries, may apply for Growing Forward 2 Ontario. Businesses should note that GF2 Ontario applications are accepted during a limited intake period. Applicants need to plan their submission ahead of time to ensure that they submit while the program is actively accepting applications.

Agricultural Producers Stream

Agricultural producers may submit Growing Forward 2 Ontario government funding applications on the following intake periods:

  • June 17 – July 7, 2016
  • October 14 – November 3, 2016

Agricultural Processors Stream

Agricultural processors (such as wineries) may submit Growing Forward 2 Ontario government funding applications on the following intake periods:

  • June 23 – July 14, 2016
  • October 14 – November 3, 2016

Canadian Small Business Funding Guide

Recent Growing Forward 2 Funding News:

 

The post Ontario Wine Industry Receives $856,000 in Government Business Grants appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/government-funding/ontario-wine-industry-receives-government-business-grants/feed/ 0
Fierce Founders Accelerator Supports Women Tech Entrepreneurs http://www.mentorworks.ca/blog/business-consulting/fierce-founders-tech-accelerator-for-women-entrepreneurs/ http://www.mentorworks.ca/blog/business-consulting/fierce-founders-tech-accelerator-for-women-entrepreneurs/#respond Mon, 27 Jun 2016 11:52:15 +0000 http://www.mentorworks.ca/?p=24848 Fierce Founders Tech Accelerator for Women

Female entrepreneurs are becoming an increasingly powerful and vocal group of influencers within Canada’s business community. A growing number of women are becoming entrepreneurs – 950,000 women were self-employed as of 2012, accounting for nearly 36% of all entrepreneurs in Canada. Still, two main challenges face women who are starting and growing their own business. […]

The post Fierce Founders Accelerator Supports Women Tech Entrepreneurs appeared first on Mentor Works Ltd..

]]>
Fierce Founders Tech Accelerator for Women

Female entrepreneurs are becoming an increasingly powerful and vocal group of influencers within Canada’s business community. A growing number of women are becoming entrepreneurs – 950,000 women were self-employed as of 2012, accounting for nearly 36% of all entrepreneurs in Canada.

Still, two main challenges face women who are starting and growing their own business. Often it’s difficult to locate a mentor who can provide inspiration and guidance through the process. Equally challenging is obtaining funding to grow the business. These obstacles continue to hinder the growth of female-owned businesses and stunt the growth of Canada’s startup scene.

Luckily new resources are available to women entrepreneurs that help to address these barriers.

Fierce Founders Accelerator for Women Tech Entrepreneurs

Communitech is a Waterloo, Ontario-based technology innovation centre that provides support services for startups and early-stage businesses. Since 1997 the group has been providing mentorship and supporting the collaboration of entrepreneurs in Ontario’s technology industry. Their 50,000 square foot facility hosts a variety of businesses and researchers that are dedicated to growing businesses through innovative research and development.

The ‘Fierce Founders Accelerator’ is a new Communitech-led initiative that seeks to close the opportunity gap experienced by female entrepreneurs in the province’s tech industry. By providing mentorship and funding support for women, the program will help women entrepreneurs to establish a sound business model.

“Through Fierce Founders, women entrepreneurs have the opportunity to turn their business ideas into a reality, and then accelerate it into a scalable business”
– Danielle Graham, Women in Tech Program Manager, Communitech

Mentoring for Women Entrepreneurs

Being able to consult an expert that has gone through similar challenges is a huge asset for entrepreneurs. It is especially difficult for women in the tech industry to find a mentor since businesses are mostly led by men. Through the Fierce Founders Accelerator, women may access mentors that will:

  • Help you build and execute a business plan;
  • Assist with market research;
  • Business training from Communitech’s resident executives;
  • Provide a critical connection to investors, advisors, and service providers.

Small Business Funding and Business Expansion Resources

Communitech’s two-part approach also seeks to provide funding and other valuable resources that speed up the time it takes for women-led businesses to grow. This includes:

Does Your Business Qualify for the Fierce Founders Accelerator?

In order to access the great small business funding, mentorship, and resources mentioned above, businesses must have:

  • At least one female founder or C-suite executive;
  • Initial funding that can be matched up to $30,000; and
  • A minimum viable product (MVP) that solves a significant problem and has the potential to impact millions of people.

How to Apply for Ontario Tech Business Funding and Mentorship

The Fierce Founders Accelerator program will accept 5 applications on a bi-annual basis. Interested women entrepreneurs must prepare an application form and submit it to Communitech by a defined intake deadline in order to be considered.

The first round of applications are due by July 29, 2016 and entrepreneurs may begin the program on September 19, 2016. Subsequent intakes and program start times will be announced every 6 months.

Ready to apply? Female tech entrepreneurs can access the Fierce Founders Accelerator application form here.

Additional Resources for Women Entrepreneurs

Female entrepreneurs may benefit from reading more about resources that can help grow their business. Learn more about funding and mentorship opportunities by accessing the articles below:

Canadian Small Business Funding Guide

Recent Entrepreneurship News:

The post Fierce Founders Accelerator Supports Women Tech Entrepreneurs appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/business-consulting/fierce-founders-tech-accelerator-for-women-entrepreneurs/feed/ 0
SWODF Government Funding Success: North Star Windows and Doors http://www.mentorworks.ca/blog/government-funding/north-star-windows-and-doors-swodf-success/ http://www.mentorworks.ca/blog/government-funding/north-star-windows-and-doors-swodf-success/#respond Fri, 24 Jun 2016 11:53:41 +0000 http://www.mentorworks.ca/?p=24834 Southwestern Ontario Development Fund SWODF Success Story

North Star Windows and Doors is a highly competitive manufacturer of energy-efficient commercial and residential building products. Since 1985, the St. Thomas, Ontario business has provided quality workmanship and attentive service to customers spanning across the world. The company was recently announced as recipients of up to $1.2 million through the Southwestern Ontario Development Fund […]

The post SWODF Government Funding Success: North Star Windows and Doors appeared first on Mentor Works Ltd..

]]>
Southwestern Ontario Development Fund SWODF Success Story

North Star Windows and Doors is a highly competitive manufacturer of energy-efficient commercial and residential building products. Since 1985, the St. Thomas, Ontario business has provided quality workmanship and attentive service to customers spanning across the world.

The company was recently announced as recipients of up to $1.2 million through the Southwestern Ontario Development Fund (SWODF). This Ontario government funding support will help the business to expand its facility, create new employment opportunities, and increase the company’s ability to export to new global customers.

The company’s expansion within southwestern Ontario is set to be a four year project that will bring over $10 million in new investments to the St. Thomas area. Through their application to the Southwestern Ontario Development Fund, the business will be able to access up to $1.2 million of this investment in Ontario government grants.

North Star Windows and Doors is a Great Fit for the SWODF Program

The business’ expansion project was an ideal fit for the SWODF program which enabled the business to be successful in their government funding application. Specifically, the company will deliver meaningful results because of its investment, including:

Job Creation and Maintenance

North Star will be able to maintain 184 existing jobs while expanding to create 140 new employment opportunities by 2019. Already one of the top employers in the St. Thomas area, this boost in employment will have significant benefits for the local economy.

Facility Expansion/ Investment

The company will be able to expand its current production facility by 25,000 square feet. With this new space, the business will be able to purchase innovative machinery that provides them with a competitive advantage over domestic and international competitors.

Growth in Export Potential

The manufacturer is projecting exports to grow to $5 million by the end of 2019. This is a 67% increase over their current $3 million in annual exports. Although there is a growing global demand for their products, the company could not keep up with the demand without an expansion to their facility.

“Manufacturing is a driving force in Ontario, and we are happy to support North Star Windows and Doors and their plans for expansion and innovative product development.”
– Brad Duguid, Minister of Economic Development, Employment and Infrastructure

About the Southwestern Ontario Development Fund (SWODF)

The Southwestern Ontario Development Fund supports business investment and job creation projects. Businesses may receive up to 15% of eligible project costs to a maximum $1.5 million in government grants and an additional $3.5 million in repayable funding for their project.

This cash flow enhancement will allow a greater number of businesses in southwestern Ontario to complete strategic projects that strengthen competitiveness and allow for global exports.

If your business is curious about its eligibility for funding or would like to incorporate this funding opportunity into a Proactive Funding Plan, please contact Mentor Works to learn more.

Find Small Business Grants and Loans Canada

Recent Canadian Government Funding Success Stories:

The post SWODF Government Funding Success: North Star Windows and Doors appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/government-funding/north-star-windows-and-doors-swodf-success/feed/ 0
Receive Funding to Participate in International Tech Trade Missions http://www.mentorworks.ca/blog/news-and-events/tech-trade-shows-in-2016/ http://www.mentorworks.ca/blog/news-and-events/tech-trade-shows-in-2016/#respond Thu, 23 Jun 2016 11:36:45 +0000 http://www.mentorworks.ca/?p=24828 Canadian Government Funding for Tech Trade Shows

Canadian businesses must look for ways to increase exports and drive revenue from international customers. Especially in the technology industry, companies should always be looking for new ways to grow their business both domestically and on a global scale. With a high demand for Canadian products and economic conditions that support increased exports, businesses should […]

The post Receive Funding to Participate in International Tech Trade Missions appeared first on Mentor Works Ltd..

]]>
Canadian Government Funding for Tech Trade Shows

Canadian businesses must look for ways to increase exports and drive revenue from international customers. Especially in the technology industry, companies should always be looking for new ways to grow their business both domestically and on a global scale. With a high demand for Canadian products and economic conditions that support increased exports, businesses should immediately focus on the opportunities available to them abroad.

Trade missions are often one of the most effective and cost-efficient ways to begin exporting to a new market. They enable small business owners and executives the chance to judge the strength of a new market, while also establishing enduring relationships with new vendors and customers. Given the time and resources to participate in trade missions, businesses are able to effectively reach these new markets and solidify their expansion plans.

International Trade Shows for Canadian Tech Companies

Technology-based businesses are among the fastest growing exporters in Canada. The country’s explosive tech startup scene is providing innovations that can be sold to customers around the world, and those who have begun exporting are already reaping the benefits.

Whether you’re already exporting or wish to become an exporter, now is an excellent opportunity to discover new markets through trade missions. Canadian tech businesses can evaluate their export market potential by attending the following trade events.

Information and Communications Technology (ICT) Trade Missions

To access more information about these events, please click the linked event name.

ICT Trade Mission to Futurecom: As the largest ICT event in Latin America, Futurecom will enable Canadian companies the ability to reach a variety of new suppliers and customers. Hosted in Sao Paulo, Brazil ICT companies will be able to tap into a rapidly growing market that has a high demand for telecom and related technologies.

CeBIT: Hosted in Istanbul, Turkey, CeBIT is the largest ICT trade show in the region and supports a range of telecommunications technologies including internet services, wireless tech, IT networks, and mobile communications.

GITEX Technology Week 2016: The Gulf Information Technology Exhibition (GITEX) is one of the world’s top three ICT exhibitions. This trade mission in Dubai will provide your business access to more than 139,000 industry professionals and nearly 3,600 suppliers from across the world.

Japan IT Week Autumn 2016: Japan IT Week will enable ICT businesses to exhibit their products and services among customers in the Japanese, Korean, Australian, and New Zealand markets. The event usually hosts businesses that can provide Internet of Things (IoT), mobile, and other ICT solutions.

CleanTech and Green Technologies Trade Missions

WEFTEC 2016 – The Water Quality Event: The Water Environment Federation Technical Exhibition and Conference (WEFTEC) is the world’s most popular event for water quality professionals. Recent exhibitions have hosted more than 1,000 exhibitors and 22,000 attendees, including buyers from approximately 3,000 water and wastewater companies. This year’s WEFTEC event will be hosted in New Orleans, Louisiana.

Clean Tech Trade Mission: Select companies from Ontario will be chosen to participate in this outgoing trade mission that focuses on innovative clean technologies. Businesses will be able to present their technologies to utilities and engineering firms from Washington, DC and Northern Virginia. Presentations will be followed with B2B meetings where companies can establish new partnerships and sales.

POL-ECO-SYSTEM 2016: As the largest cleantech and environmental industry trade show in Central Europe, POL-ECO-SYSTEM hosts over 22,000 visitors and 170 journalists from across Europe. Canadian companies can use this event to network with other businesses from Poland and across the world.

Canadian Government Funding to Attend Trade Shows and Grow Export Markets

Although the above events will provide Canadian companies an opportunity to grow their exports, many businesses are hesitant to explore these options because of limited cash flow. The cost of traveling to these markets and participating in trade missions can be an expensive process, which limits the number of companies that can participate.

Luckily, the Government of Canada provides assistance to small and mid-sized businesses that are looking to enter new export markets. CanExport is a funding program that offers Canadian government grants for businesses entering markets that they have not recorded revenue in in the past two years.

Small business grants will provide up to 50% of eligible expenses to a maximum $99,999 per application submitted. This is an excellent program for technology-oriented businesses who are incorporated and have project expenses of at least $20,000. This amount will cover export expansion costs such as participation in trade events, travel costs to the foreign country, and the translation of marketing materials for your new audience.

Canadian Government Funding for Export Market Expansion

Canadian Business Events and Trade Shows:

The post Receive Funding to Participate in International Tech Trade Missions appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/news-and-events/tech-trade-shows-in-2016/feed/ 0
Eligibility Requirements for the Eastern Ontario Development Fund http://www.mentorworks.ca/blog/government-funding/2016-06-eastern-ontario-development-fund-eodf-business-eligibility/ http://www.mentorworks.ca/blog/government-funding/2016-06-eastern-ontario-development-fund-eodf-business-eligibility/#respond Wed, 22 Jun 2016 11:46:57 +0000 http://www.mentorworks.ca/?p=24818 Eastern Ontario Development Fund EODF Business Grants

The Government of Ontario has released funding to support business expansion projects within eastern part of the province. The Business Stream of the Eastern Ontario Development Fund (EODF) provides cost-sharing support for small and mid-sized businesses who are investing, expanding, and growing their business through productivity and job-creation projects. EODF will contribute up to 15% […]

The post Eligibility Requirements for the Eastern Ontario Development Fund appeared first on Mentor Works Ltd..

]]>
Eastern Ontario Development Fund EODF Business Grants

The Government of Ontario has released funding to support business expansion projects within eastern part of the province. The Business Stream of the Eastern Ontario Development Fund (EODF) provides cost-sharing support for small and mid-sized businesses who are investing, expanding, and growing their business through productivity and job-creation projects.

EODF will contribute up to 15% of eligible project expenses (to a maximum $1.5 million) in Ontario small business grants for projects with expenses ranging from $500,000 to $10 million. Large projects that invest in excess of $10 million will receive funding up to 15% of eligible project expenses (to a maximum $3.5 million) in Ontario government loans in addition to government grants.

This government funding program provides an exceptional opportunity for businesses to receive a combination of grants and loans, effectively expanding cash flow. The boost in funding can enable new expansion projects that include expanding facilities, investing in new equipment, and hiring employees.

Companies Eligible for EODF Small Business Grants Ontario

The Eastern Ontario Development Fund’s Business Stream is mainly comprised of two sub-streams, including a Business Stream and a Small Community Pilot Stream. Businesses must meet the program criteria of either streams to become eligible for EODF.

Business Stream

Companies applying through the Business Stream must:

  • Be located within eastern Ontario;
  • Be incorporated and have at least three years of financial statements;
  • Provide a minimum project investment of $500,000;
  • Maintain at least 10 employees at the time of application; and
  • Must create at least 10 new jobs upon project completion.

Small Community Pilot Stream

Small businesses applying to the EODF Small Community Pilot Stream must:

  • Be located in a small community (those with less than 20,000) in eastern Ontario;
  • Provide a minimum $200,000 investment over 4 years or less;
  • Employ 5-10 employees; and
  • Increase employees by 50% by project completion.

Business Sector Eligibility (Both Streams)

When determining a business’ fit for the EODF program, the Government of Ontario will also consider the sector a company operates in. Consider the following guide to determine if your business operates in a sector that is supported by EODF:

Eligible Businesses include advanced manufacturing, life sciences, primary resources processing, information and communications technology (ICT), tourism, and cultural industries.

Ineligible Businesses include retail, restaurants, construction, primary resources production, personal and professional services, golf courses, and consulting.

Eastern Ontario Development Fund Grant – Project Eligibility

EODF Ontario government funding will support a wide range of business investment projects that:

  • Provide new investment for expanded operations in eastern Ontario;
  • Create high-value, sustainable jobs; and
  • Improve a business’ competitiveness, productivity, innovation, and exports.

Projects Ineligible for EODF Grants and Loans

The Eastern Ontario Development Fund supports non-recurring business investments that provide benefits for Ontario communities and the economy. Therefore, business funding will not be offered for projects that:

  • Relocate business operations to other parts of Ontario or elsewhere;
  • Recur or support ongoing operations such as maintenance or capital replacement;
  • Refinance existing business operations; and
  • Are acquisitions or buyouts.

Expense Eligibility Criteria for the Eastern Ontario Development Fund

EODF project funding will support one-time investments for activities that contribute to business expansion, job growth, and export opportunities. Some of the expenses that may be included in funding submissions are:

  • Modifications, upgrades, or retrofits to the production facility;
  • New equipment and machinery;
  • Internal labour specifically attributed to the project;
  • Specialized third-party consultants;
  • Employee training (internal or third-party);
  • Materials needed to configure or test upgraded production processes; and
  • Permits, fees, and similar project-related expenses.

Project Expenses Ineligible for EODF Cost-Sharing Support

Most other project expenses will not be considered for Ontario government grants and loans. This includes, but is not limited to:

  • Any ongoing or recurring operational costs;
  • Replacement of capital equipment (only new equipment purchases are eligible);
  • Overhead costs;
  • Lease costs;
  • Marketing, sales, and distribution fees;
  • Vehicles and any off-site equipment;
  • Purchase of land or buildings, or construction of a new building;
  • Working capital; and
  • Servicing debt.

Learn More about the Eastern Ontario Development Fund

Get Started     Program Overview      Contact Us

Recent Eastern Ontario Development Fund News:

The post Eligibility Requirements for the Eastern Ontario Development Fund appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/government-funding/2016-06-eastern-ontario-development-fund-eodf-business-eligibility/feed/ 0
Get Paid Now: 6 Tips for Better Accounts Receivable Management http://www.mentorworks.ca/blog/business-consulting/accounts-receivable-management-tips/ http://www.mentorworks.ca/blog/business-consulting/accounts-receivable-management-tips/#respond Tue, 21 Jun 2016 11:38:40 +0000 http://www.mentorworks.ca/?p=24813 Speed Up Accounts Receivable AR for Business

In business, cash is king. Understanding how to manage your cash flow properly will save you from undue stress and ensure that you’re paid for your products or services. Meticulous cash flow management is one of the most important elements to running a strong, successful business. Cash is needed to complete new projects, pay employees, […]

The post Get Paid Now: 6 Tips for Better Accounts Receivable Management appeared first on Mentor Works Ltd..

]]>
Speed Up Accounts Receivable AR for Business

In business, cash is king. Understanding how to manage your cash flow properly will save you from undue stress and ensure that you’re paid for your products or services.

Meticulous cash flow management is one of the most important elements to running a strong, successful business. Cash is needed to complete new projects, pay employees, pay vendors, and pay for other expenses vital to keeping your business alive. Ensuring that your business has enough liquid assets (cash being the most liquid) to satisfy these expenses is imperative if you wish to remain in operation.

However, a challenge that almost every business faces is maintaining this cash flow and ensuring that their accounts receivable (AR) are being paid promptly. Setting terms of payment, then following up with clients that surpass this payment date is essential to maintaining your cash flow; but what are some of the ‘best practices’ for doing this?

“A sale is a gift to the customer until the money is in the bank.”
– Nolan Bushnell, Founder of Atari and Chuck E. Cheese

Getting Paid on Time: Tips to Speed Payments and Reduce Problem Accounts

Maintain Detailed Notes

Keeping a record of customer calls, emails, and in-person conversations will help you determine when to invoice the customer, and therefore when they’ll need to pay. This information can be relayed back to the customer if they dispute charges, or to collection services if you require a third-party to collect on your behalf.

You can never have a paper trail that’s too long – these details are so important when it comes to being paid on time.

Invoicing Considerations

Always ensure you invoicing is done timely and accurately. The more days that pass before your business invoices the customer, the longer they’ll have to repay and the more excuses they’ll be able to attribute their late payment to.

Being accurate will also help avoid disputes that arise when the customer receives their invoice. This can often be a messy and time-consuming process to identify the correct invoiceable price, and will reduce the amount of trust that’s held between you and the customer. If you get it right the first time, your accounts will be cleaner and easier to process.

Reduce Payment Barriers to Help Customers

By offering standard payment options such as credit card, cheque, direct deposit and PayPal, your business will:

  • Enable customers to pay with their preferred method, which builds trust;
  • Eliminate the legitimate risk of customers not having the ability to pay through your payment methods; and
  • Eliminate some of the excuses coming from customers who do not have the means or desire to pay.

Managing New Customers

Ensure that upon engagement with a customer, you become registered as a vendor in their system. Ask if they require any information from you to be setup right away, even before your first invoice is sent to them.

Make sure to communicate your payment terms early in the process.

If you start out with a firm payment policy upfront, customers are less likely to be surprised when an invoice is received and more likely to adapt to your payment terms. Make sure to communicate your payment terms early in the process and communicate it throughout your relationship with them to ensure they know when they’re required to make a payment.

Establish a Schedule for Collections

With most computerized accounting or payment systems, you’ll be able to sort and filter late accounts. This process will assist you to identify the most overdue accounts or those accounts with the most amount of money outstanding.

Establishing a schedule for collecting accounts based on these two principles will help you reduce your accounts receivable if you’re committed to following-up. Establishing rules that identify the highest priority accounts will depend on your business, customer base, and repayment terms, however many businesses will prioritize their accounts receivables based on date ranges.

A simple but effective way of prioritizing accounts is to find those customers who are still on your A/R after 30 days, 45 days, and 60 days from your invoice date. Start by contacting those who have outstanding invoices dating back the longest, then proceed through your list until you’ve contacted all customers who have outstanding accounts.

Remain Professional, Attitude Counts

Being persistent often helps speed payment times. From personal experience, I’ve found that some customers pay invoices just to stop receiving your calls and reminders.

Some customers legitimately need to be reminded to send a payment because if they have 100 or more accounts to pay, yours may fall in priority or be forgotten about entirely. It’s unreasonable to believe that all late payments are ill-intentioned, and often all that’s required is to reach out and ask for the account to be paid.

However there are always going to be difficult accounts that despite how reasonable and flexible you are, the customer simply won’t pay. In these situations, the best thing that you can do is remain professional, remain persistent, and trust that the account will be paid in time. As long as the customer is still communicating with you and realizes that they have an account to pay, the relationship can continue. It’s your responsibility to keep the customer motivated to pay and ensure that you do not damage the relationship (potentially sacrificing future revenue for your business).

Fast Fact: A survey conducted by the Commercial Law League of America found that the chances of collecting on an account at 90 days is 72%; after 180 days, 44%, and after one year, 29%

Collecting from Difficult Clients and Those Who Refuse to Pay

When your efforts to collect go unheard what are your options? The key to successfully managing outstanding accounts receivables is to know when it’s the right time to turn for help.

Although it may seem like a helpless situation, there are options. Reporting late payments to the credit bureau is often effective. No one likes a bad credit rating, so for large or repeatedly delinquent accounts, consider calling a debt collection lawyer for legal action, or connect with a company that provides accounts receivable guarantee programs.

Most businesses are hesitant in using collection agencies but if you take the time to do proper research, you will find a company that treats both your business and customers professionally. Most importantly, they will make sure you get paid.

Accounts Receivable Guarantee Programs

These programs provide credit guarantees and cheque guarantees to companies in all industries.

There will always be a small percentage of customers who do not end up paying you. Much like buying insurance to protect against job loss, businesses can buy credit protection to protect them from financial risk of customers not paying for goods and services.

These programs pay you for any past due invoices including bankruptcies, assuming the risk of non-payment and eliminate the need for expensive debt collection services allowing your business to grow risk-free.

Debt Collection Resources

  • MetCredit – As Canada’s top collection agency, MetCredit focuses on the ethical and professional collection of outstanding debts in a respectful way that protects your brand reputation.
  • Office of Consumer Affairs – Collection Agencies – The Government of Canada has more information that businesses can use to better inform themselves about what to do when their outstanding accounts do not pay.
  • TransUnion – Providing advanced analytics platforms for businesses, TransUnion helps businesses to prioritize overdue accounts and track down debtors. Their service enables businesses to identify problem accounts and act quickly.
  • VCG Group – Understanding how much credit to extend to customers can be a difficult estimation for many businesses to make. VCG Group will evaluate your current customer base and establish a line of credit that is based on a customer’s activity and credit score. This helps you to ensure that you don’t extend more credit to a customer than they are able to pay for.

Recent Cash Flow and Financial Management News:

The post Get Paid Now: 6 Tips for Better Accounts Receivable Management appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/business-consulting/accounts-receivable-management-tips/feed/ 0
Qualify for the OMDC Interactive Digital Media Fund http://www.mentorworks.ca/blog/government-funding/2016-06-omdc-interactive-digital-media-fund-grants-eligibility/ http://www.mentorworks.ca/blog/government-funding/2016-06-omdc-interactive-digital-media-fund-grants-eligibility/#respond Mon, 20 Jun 2016 14:45:15 +0000 http://www.mentorworks.ca/?p=24809 digital-media-artist

The OMDC Interactive Digital Media Fund provides Ontario government grants for businesses that are conceptualizing or producing interactive digital media content. Through two unique streams, the OMDC IDM Fund provides small business funding worth up to 50% of project expenses to plan and produce content. Ontario companies may wish to pursue this opportunity if they […]

The post Qualify for the OMDC Interactive Digital Media Fund appeared first on Mentor Works Ltd..

]]>
digital-media-artist

The OMDC Interactive Digital Media Fund provides Ontario government grants for businesses that are conceptualizing or producing interactive digital media content. Through two unique streams, the OMDC IDM Fund provides small business funding worth up to 50% of project expenses to plan and produce content. Ontario companies may wish to pursue this opportunity if they are producing interactive digital media content that entertains, informs, or educates its audience.

The OMDC Interactive Digital Media Fund is administered by the Ontario Media Development Corporation (OMDC), an agency within Ontario’s Ministry of Tourism, Culture and Sport. OMDC promotes, enhances, and leverages investment and jobs within Ontario’s economy through the creation of original content. Ontario businesses can access the Interactive Digital Media Fund, among many other funding programs provided by OMDC to increase cash flow and enable new projects.

Does your business qualify for the OMDC Interactive Digital Media Fund? Continue reading about the project’s eligibility criteria to find out.

Business Eligibility for the Interactive Digital Media Fund

The OMDC Interactive Digital Media Fund is flexible in its eligibility criteria to ensure that most businesses are able to apply for funding. Whether your business is a startup or established company, you may be able to apply for these Ontario government grants.

All Applicants – Financial Qualifications

All applicants of the Interactive Digital Media Fund must meet one of the following conditions:

  • A minimum 50% of company expenses in the last 2 fiscal years have come from the production of interactive digital media content projects that would have been eligible for the IDM Fund;
  • A minimum 50% of company revenues in the last 2 fiscal years have come from publishing activities and other brand extensions (trade shows, website development, television);
  • A minimum 25% of company revenues in the last 2 fiscal years have come from the creation of complete screen-based content products.

Established Digital Media Company Eligibility

In order to be successful recipients of the IDM Fund, established interactive digital media production and publishing companies must:

  • Be Canadian-owned and based in Ontario;
  • Be incorporated federally or provincially, or have plans to upon program approval;
  • Have at least one owner or full-time employee with a minimum 3 years of experience in the creation or distribution of interactive digital media content; and
  • Be in a stable financial situation and have financial documentation to support claims.

New Digital Media Company Eligibility

New digital media companies, those with less than 1 year in operations and no released products, must:

  • Be an Ontario owned and operated company;
  • Be able to incorporate immediately if application is successful (businesses can be approved but cannot receive funding until incorporated); and
  • Have an owner or full-time employee with a minimum 3 years of professional experience in digital publishing or interactive digital media development.

Projects Eligible for the OMDC Interactive Digital Media Fund

For projects to be deemed eligible for the Interactive Digital Media Fund, they must meet the following eligibility criteria, including that the content must:

  • Support cultural connections;
  • Consist of a combination of at least two of text, sound, and images;
  • Entertain, inform, or educate;
  • Be unique and be released on interactive digital media platforms such as the Apple App Store, Google Play Store, and Sony Playstation Store as the primary Canadian distribution channel;
  • Target consumers, groups of consumers, or educational institutions; and
  • Be revenue-generating.

Ineligible Projects

Likewise, there are certain project themes that are not well suited for the Interactive Digital Media Fund. These include:

  • Content geared toward enterprise users;
  • Advertising software or that intended to sell products/services/companies;
  • Interpersonal communication platforms;
  • Catalogues/databases;
  • Repurposed physical or offline content that is not augmented or enhanced; and
  • Are not for the general public and/or are offensive.

Expenses Eligible for IDM Fund Ontario Small Business Funding

Successful recipients of the OMDC Interactive Digital Media Fund will be able to recover up to 50% of the project expenses, including:

  • Labour;
  • Equipment;
  • Materials;
  • Software;
  • Promotions; and
  • Overhead costs.

Learn More about the Interactive Digital Media Fund

Get Started     Program Overview     Program Update

Recent OMDC Interactive Digital Media Fund News:

The post Qualify for the OMDC Interactive Digital Media Fund appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/government-funding/2016-06-omdc-interactive-digital-media-fund-grants-eligibility/feed/ 0
Hiring Grants to Employ Recent Post-Secondary Grads – Apply Now http://www.mentorworks.ca/blog/government-funding/2016-06-hiring-grants-for-business-update/ http://www.mentorworks.ca/blog/government-funding/2016-06-hiring-grants-for-business-update/#respond Fri, 17 Jun 2016 11:06:37 +0000 http://www.mentorworks.ca/?p=24769 Hiring Grants for Canadian Small Business

Over the last few weeks, many of the most popular and lucrative wage subsidies have re-launched and are now providing funding to Canadian small businesses. If your business is planning to hire new employees during the year, now is the best time create those employment opportunities because of your ability to receive Canadian government funding. […]

The post Hiring Grants to Employ Recent Post-Secondary Grads – Apply Now appeared first on Mentor Works Ltd..

]]>
Hiring Grants for Canadian Small Business

Over the last few weeks, many of the most popular and lucrative wage subsidies have re-launched and are now providing funding to Canadian small businesses. If your business is planning to hire new employees during the year, now is the best time create those employment opportunities because of your ability to receive Canadian government funding.

Youth post-secondary graduates can offer a significant benefit to your company, and better still, employers may be able to receive $14,000 to $20,000 in Canadian government grants to support the graduate’s wage. This funding typically supports the graduate’s wages for a 3-month to 12-month period and most hiring programs will cover up to half of the new employee’s wage.

Businesses should act quickly to apply for these funding programs since the total amount of funding available per year is limited and distributed on a first-come, first-serve basis. Hiring grants will be awarded through the summer, and in the past, funding is depleted by late summer or early fall of each year.

Who Should Apply and Who Should they Hire?

Considering if your business should access recent graduate hiring grants? Here’s what your company should know about hiring grants this year.

Focus Industries – Companies Most Likely to Receive Funding

Is your business operating in one of these industries? You are most likely to receive hiring grants if your organization is committed to serving the following industries:

  • Agriculture;
  • Aerospace;
  • Apparel;
  • Biotechnology;
  • Food processing;
  • Information and Communications Technology (ICT); and
  • Sustainable energy.

Candidate Eligibility Requirements

Candidates recruited by employers should be:

  • A new hire to the applicant business;
  • A post-secondary graduate (college or university);
  • Between the age of 15 and 30 years old (inclusive);
  • A Canadian citizen, permanent resident, or refugee;
  • Not currently in receipt of EI benefits;
  • Working for a minimum of 30 hours per week for at least 3 months;
  • Starting their first relevant career-related position after being hired; and
  • Underemployed or unemployed prior to being hired.

Limited Time Remains to Access Hiring Grants

Due to the high demand for business hiring grants and wage subsidies, funding for these programs typically runs out by late summer or early fall of each year. If your business would benefit from receiving up to 50% of a new employee’s wage up to $20,000, you should consider applying for one of these funding programs.

Government grants to hire employees

Recent Funding to Hire Post-Secondary Graduates News:

The post Hiring Grants to Employ Recent Post-Secondary Grads – Apply Now appeared first on Mentor Works Ltd..

]]>
http://www.mentorworks.ca/blog/government-funding/2016-06-hiring-grants-for-business-update/feed/ 0