Canadian SMEs have a wide variety of useful business tools at their disposal to help them circumvent the potential barriers to their growth. Some of these business tools can be provided to businesses free of charge through the use of Canadian government grants. The government provides a large number of services to encourage Canadian businesses to conduct expansion projects and foster relationships with one another to excel in their respective industries.
The Government of Canada provides funding for online services to assist businesses with the development of new business plans. They have included templates and samples of different types of plans depending on the nature of the project to be undertaken. They also provide the services of Business Information Officers to assist businesses in the planning process. A well-developed business plan will help an organization’s ability to acquire capital from outside sources including banks, investors, and venture capitalists. Businesses who are lacking sufficient capital may also want to consider government funding for small businesses. Business funding grants allow for businesses to receive the additional capital they require without having to sacrifice ownership or profits to outside organizations. However, well-developed business plans are still required for a large number of these small business funding grants.
Canadian SMEs also have access to multiple types of online financial calculators for project planning and other important business decisions. CCH has created simple and easy to use software systems for businesses that are looking to quickly assess their options regarding the financing or research and development costs of new equipment or technology. The Canadian Government provides businesses with Research and Development Funding, Tax Incentives and Technology Adoption Programs to reduce these costs and further encourage Canadian SMEs to take on these types of projects. These financial calculators are tailored to meet the specific needs of Canadians and can be utilized free of charge.
The Canadian Company Capabilities (CCC) is a searchable database of over 60,000 Canadian businesses. The CCC acts as a business directory for networking opportunities between Canadian SMEs. Businesses can create their profiles which display their products and services as well as their contact information. The CCC provides a valuable opportunity for those who are in search of potential Canadian business partners for exporting/importing or supply/distribution services. The database includes public and private organizations along with secondary institutes for those who are interested in post-secondary collaboration research projects. The Excellence in Manufacturing Consortium are Canadian Technology Triangle are some of the other industry consortiums that would provide similar networking benefits to Canadian businesses. Registration for the Canadian Company Capabilities directory is free and we encourage those who are interested to take advantage of this opportunity.
Canadian Government Funding Workshops
Mentor Works is also an organization that also provides Canadian SMEs with valuable business tools. We provide a broad range of services and expertise to our clients in order to help them successfully plan, implement, and acquire the funding to match their business’s needs. Our company offers a Free 60 Minute Government Funding Workshop and a daily blog to keep businesses up-to-date with the Canadian government grants and funding programs. Our clients are primarily comprised of Canadian manufacturers in South-Western Ontario and the GTA; however, our services do apply to other industries. For more information on our services, please contact one of our Government Funding Experts.