The Canadian Manufacturers & Exporters (CME) association surveyed over 800 businesses last year as part of their 2014 Management Issues Survey to determine top management issues. The results were very clear: 47% of respondents indicated that the “availability of skilled labour” is a strong factor in making investment decisions with 45% declaring that labour shortages are constraining their growth today. 72% of respondents stated that “direct funds to support training” would motivate them to carrying out additional workforce development initiatives for skilled labourers. The numbers paint a clear picture; businesses need to focus more on attracting, retaining, and developing a talented workforce and owners are interested in carrying out training with the help of government funding.
Millions of Dollars in Training Grants Available to Canadian Businesses
Small businesses can leverage several Canadian government funding programs that are designed to help develop the Canadian workforce. Some programs, such as the Canada-Ontario Job Grant, have a broad reach, supporting up to 66% of their employees’ third party training costs to a maximum of $10,000 per trainee. Other funds focus on specific training structures, including the Apprenticeship Job Creation Tax Credit, a tax credit that covers 10% of eligible salaries and wages up to $2,000 per year specifically for apprentices.
Discover How to Subsidize your Training Initiatives
On Tuesday, February 24, Mentor Works will host a free webinar detailing the wide range of Canadian small training grants and incentives in a 45-minute session. The webinar will feature opportunities for participants to ask questions specific to their training requirements, as well as reach out to Mentor Works following the event for more details.
Date/Time: Tuesday, February 24, 2015 from 11:00-11:45am (EST)
Location: Online Webinar via GoToWebinar
Stay Up-to-Date on Funding News
Mentor Works offers a variety of free funding resources to Canadian businesses. If you haven’t already, make sure to subscribe to our weekly funding e-newsletter to ensure you stay informed of funding launches, deadlines, and changes, as well as other helpful news and resources for your business. We are also hosting a variety of events throughout the year on various funding topics, which you can view on our Workshops & Webinar Page.