Top Small Business Grants and Loans Programs for the Aerospace Sector
In a previous post, Canadian Government Funding: New Program for Aerospace Technology, Mentor Works covered the Federal government’s announcement of close to $1 billion over five years through including an initial investment of $110 million followed by $55 million annually beginning in 2014 into the Strategic Aerospace and Defense Initiative (SADI) which will help fund the newly created Aerospace Technology Demonstration Fund. In addition to this fund, we have outlined several of the most beneficial small business grants programs for the aerospace sector below.
CCAA Career Focus: Small Business Grants for Hiring Recent Grads for Careers in Aerospace
The majority of small business grants for hiring recent grads available to small and medium-sized businesses (SMEs) in Canada focus on STEM fields (science, technology, engineering and math) and this of course bodes well for our Aerospace clients. Among the many government grants for small business options available one program specifically designed for the aerospace sector is among the most beneficial; Canadian Council of Aviation and Aerospace (CCAA) Career Focus. CCAA Career Focus offers a wage subsidy of up to $17,000 annually (up to 50% of their wage) to hire recent graduates to positions such as pilots, HR, CSR, AMT’s, etc.
IRAP: Business Expansion and Research and Development Funding
Industrial Research Assistance Program (IRAP) has a number of Canadian government funding for research and development and business expansion programs that can be leveraged to help companies in various stages of growth. Mentor Works has helped businesses across Canada take advantage of small business grants for software development and Canadian small business grants for ERP implementation and customization. IRAP funding amounts range up to $100,000 and are commonly stacked with iSTEM small business grants for hiring.
Small Business Grants for International Expansion through the Export Market Access Program
Finally, the Export Market Access (EMA) Ontario small business grants program helps SMEs successfully access international markets. Ontario government funding offered through this program covers expenses associated with trade shows, fairs, exhibits and trade missions that are supported by a recognized third party. EMA Ontario business grants cover as much as 50% of eligible expenses up to $50,000 and can be accessed twice per year.
Learn How to Find Small Business Grants and Loans via Mentor Works Resources
Mentor Works offers several ways to find and stay up to date on various Canadian small business grants and small business loans Ontario.
To receive regular updates on Canadian government funding for small business programs please sign up for our Canadian government funding weekly e-newsletter. You can also connect with us via LinkedIn or Twitter. Interested in finding more government grants for small business and business loans programs, but are not sure how? Watch the following video on how to leverage Mentor Works’ resources to find the program that fits your business’ unique set of opportunities and challenges.