Currently, the Ontario Ministry of Agriculture, Food and Rural Affairs is not accepting applications to their highly successful Rural Economic Development (RED) program. This popular grant funding for business program focused on the food and agriculture sectors in Ontario families and rural economies.
Small Business Government Grants Overview
This Ontario government funding program was created due to today’s economic climate and need to remain competitive in the global market. This program is a key portion of Ontario’s Rural Plan to help build stronger rural communities. These business funding grants will help create and retain jobs, revitalize communities as well as train and develop the skills of Ontario’s workforce. Projects eligible for these Ontario business grants must provide direct benefits to rural Ontario.
Ontario Government Funding Priorities
This funding for small business program focuses on the following:
- Support the food processing sector
- Community revitalization
- Improve access to skills training and enhancement
Who Can Apply For These Business Funding Grants?
Eligible candidates to receive this funding for small business may include strategic alliances between individuals, businesses, community organizations and municipalities. Each applicant must share in the risks of the project, invest and have interest in completing the project. Eligible rural locations encompass all of Ontario with the exception of the Greater Toronto Area (GTA) and eight large urban areas that includes Hamilton, Ottawa, Greater Sudbury, Thunder Bay, London and Windsor, and the regions of Waterloo and Niagara. However, any municipality with a population of less than 100,000 in these areas will be considered rural.
RED Program: Funding for Small Business Amount
All eligible projects to receive this Ontario government funding are cost-shared with the provincial government investing up to 50% of the project’s eligible costs. Under some circumstances, the Canadian government could provide 90% of total eligible project costs. Some eligible costs includes:
- Skill enhancement costs or specialized training
- Development and distribution of marketing and promotional materials
- Travel costs incurred
- Architectural, engineering, legal, account, or other professional fees
- Consultants, project management fees
- Minor capital costs that includes renovations or specialized equipment
- Feasibility and business plan preparation
- Software and other community technology
- Bank feeds and charges for the project
Ineligible costs include:
- Land, buildings and major infrastructure
- Projects replacing discontinued government programs
- Direct wage subsidies
- Leased equipment
- Costs incurred prior to approved project start dates
- Recurring costs such as reprinting
- Costs incurred in preparing an application
- Debt restructuring, fundraising, financing
Funding for Small Business Application & Support
Project approval will be based on a fully developed application that includes a clear demonstration of the need for the project, a sound financial plan, financial viability, project feasibility, the economic development potential of the project, and measured outcomes, such as job creation or performance. For those who would like to learn more about Canadian government funding mechanisms available to your company, I encourage you to contact one of our Canadian Government Funding Experts. Additionally, please be sure to follow us on Facebook or Twitter to receive daily updates.