As part of Growing Forward, a market-driven vision for Canadas agriculture, a business risk management program is now available. AgriInvest is a self-directed risk management program offered to all farming operations in Canada. This agricultural funding for small business allows applicants to deposit up to 1.5% of their Annual Net Sales (ANS) into their individual AgriInvest account and the government will also deposit a shared amount. The account holder can then withdraw from their account based on their needs.
Agricultural Canadian Government Funding
AgriInvest will assist producers by protecting their margins from small declines through flexible coverage. This Canadian Government funding mechanism will provide producers with the freedom to use the funds for risk mitigation or various other expenses incurred that affect their bottom line.
Individuals, partners in partnerships, and limited partnerships (except in Quebec), co-operatives, corporations, estates, trusts, and landlords in joint ventures are eligible to participate. In addition, producers must have reported farming income (or loss) for tax purposes.
Most agricultural products are allowable under the AgriInvest program, except for:
- Products under supply-management;
- Forestry products;
- Aquacultural products;
- Peat moss;
- Wild animals in their natural environment.
When Can I Apply for this Small Business Funding Grant?
Each year, producers can deposit up to 1.5 percent of their Allowable Net Sales into an AgriInvest account. Funds can be withdrawn at any time and producers have 90 days from when the Deposit Notice is issued to make a deposit into their AgriInvest account. The eligible participants are limited to ANS of $1,500,000 per year in which the government would match $22,500. The program is cost-shared by the federal and provincial governments on a 60:40 basis.
September 30, 2012: Deadline to submit the 2011 AgriInvest application without penalty
December 31, 2012: Deadline to submit the 2011 AgriInvest application with penalty
Learn More About Government Funding for Business
To receive additional support and guidance on the various government funding programs available, please contact one of our Canadian Government Funding Experts and be sure to follow us on Twitter or sign-up for our Weekly E-Newsletter.