Accessing Small business grants for hiring is a great way to increase your human capital while minimizing the financial burden on your firm’s hiring budget. In fact, we have routinely seen firms receive upwards of $200,000 per year in government funding to support their hiring initiatives. So what are you waiting for?
What are the most suitable government small business grants programs for your business?
Unfortunately, in some cases hiring managers and small business owners will spend countless hours research and/or applying to programs only to learn afterwards that the program is no longer running or funding has been depleted. Stay on top of small business grants for hiring programs by checking back with us regularly.
Top Canadian Business Grants for Hiring
These are currently among the most popular Canadian business grants for hiring programs utilized by Mentor Works’ clients:
1. HRSDC Career Focus Government Grants for Hiring
Human Resources and Skill Development Canada (HRSDC) offers the HRSDC Career Focus Canadian business grants for hiring program. This outstanding government small business grants for hiring program will take care of the majority of the graduate’s wage for a term of up to 25 weeks.
- Amount: A maximum of $20/hour or $20,000 total per intern.
- Eligibility Factors: Incorporated firms and not-for-profits. Participating companies must agree to offer mentorship as well as career-related experience.
- Timeline: Open; the process takes between 6-8 weeks.
- Example Positions: Engineer, Financial Analyst, Marketing Analyst, Admin, Software Developer, Graphic Designer, Business Development Personnel, etc.
Important: Funding for this program is limited. Please contact a Canadian government funding expert in order to get started.
2. CCAA Career Focus for Aerospace & Aviation Hires
Through the Canadian Council for Aviation and Aerospace (CCAA) Career Focus Hiring Program, aviation & aerospace businesses located in Canada are eligible to receive small business grants for hiring recent post-secondary graduates for “high-demand roles” within the industry.
- Amount: Up to 50% or $17,000 for a minimum 4 month term.
- Eligibility Factors: Employment must be for a minimum of 30hrs per week in a company that operates in, or serves the aerospace & aviation industry. For more information, please visit CCAA Canadian business grants eligibility blog.
- Timeline: While the CCAA Career Focus Program ends in March 2014 funding often runs out beforehand.
- Example Positions: Any high demand position within the industry.
3. YMCA High Demand Youth Internship Program
The YMCA High Demand Youth Internship Program (HD-YIP) is a Canadian business grants program that helps SMEs that are looking to hire a full-time intern.
- Amount: The maximum amount of support is $8/hour (minimum wage must be $16/ hour).
- Eligibility Factors: Must be a for-profit firm operating within Canada (since at least 2 years prior to application). Participating firms must have a minimum of 5 full-time employees and have a minimum of $2 million in general liability insurance.
- Timeline: The YMCA HD-YIP Program is now accepting applications from businesses across Canada. All internships end by February 28, 2014.
- Example Positions: Knowledge-based technology, manufacturing, construction, retail trade, accounting, & more.
Important: Limited funding available. Contact a Canadian government funding expert to get started.
4. Business Grants in Ontario: Ontario Exporter’s Fund Hiring Program
The Ontario Exporter’s Fund (OEF) offered through the Ontario Chamber of Commerce is one of the least well-known but most lucrative hiring programs we have helped our clients access. The program was established to help small and medium-sized businesses (SMEs) grow international sales by providing small business grants Canada support to hire an experienced Export Manager.
- Amount: Up to $40,000 per year for 2 years ($80,000 maximum).
- Eligibility Factors: SMEs must have between $1M and $20M in revenue, with 10-50% coming from export sales.
- Timeline: Open.
- Eligible Positions: Export Manager, International Business Development Manager.