The formation of a primarily local supply or distribution chain can be a daunting task for any Canadian small business owner. Most Canadian businesses find themselves unable to tap into their surrounding business communities for potential product suppliers or sales leads. Therefore, they are forced to rely on foreign sources as a means to meet their sales or supply requirements. The Canadian Importers Database is an online business research tool to help businesses find products, suppliers or sales leads within the Canadian Business Community. These services are provided free of change; as one of the many funding for small business opportunities that are offered by Government Funding Canada.
Ontario Business Grants for Exporters
The Canadian Government also provides government grants for small business expansion efforts that look to increase Canadian export sales in foreign markets. These types of business funding grants are intended to strengthen the Canadian economy and foster strong and long-lasting relationships with foreign distributors. Based on current availability and program orientation, the top three export-related grants are currently:
- Export Market Access Grant: Businesses can receive up to $30K in non-repayable small business funding grants or a 50% reimbursement of their eligible expenses. Funding can be applied to a wide variety of business activities related to the development of new relationships with international distributors. This could include tradeshow expenses, travel & accomodation, marketing materials, market research, and many others.
- Ontario Exporters Fund: This program provides non-repayable business funding grants up to $50,000 or 50% of the incremental salary expenses for a recruitment and hiring of an Export Market Manager or a market readiness assessment. These will help to ease a businesses’ transition into a foreign market and improve sales and public relations.
- CME Smart Prosperity Now: Canadian manufacturers can receive up to $75K or 33.3% of the eligible business expenses to expand their sales into international markets. These funds could be applied to capital equipment purchases as well as marketing and promotial activities that would help to increase the businesses’ competitive advantage in the foreign market.
Applications for Small Business Government Grants
Those who are involved with the Canadian manufacturing industry and would like to learn more about the opportunities for Small Business Funding Grants can contact one of our Canadian Government Funding Experts or sign up for one of our Free 60 Minute Funding for Small Business Workshops. Businesses can also stay current with the latest Canadian Government funding opportunities by subscribing to our Weekly E-Newsletter or following us on Twitter.