The Canadian government grants available to your business depends on your industry, region, and the projects that you’re looking to carry out. Industrial and technology-based firms have the most robust selection of funding programs, while government grants and loans for service-based and retail industry companies are often limited. Canadian government grants are widely available for the following sectors:
- Aerospace and aviation;
- Agriculture, including food and beverage processing;
- Advanced manufacturing;
- Cleantech and energy management/efficiency technologies;and
- ICT and Digital Media.
Mentor Works: The Canadian Government Funding Planners™
Mentor Works helps businesses across Canada develop and implement Canadian government funding plans. We work with clients across a wide range of industries and regions to tailor a selection of business grants and loans that accelerates your business’ growth. Since 2008, our team has helped Canada’s most prominent and fastest growing organizations execute a dynamic and proactive funding strategy. By working with Mentor Works, you’ll simplify the entire funding process, from research to writing, submission, and reporting.
Eligibility Criteria for Most Canadian Government Funding Programs
In order to be eligible for most small business funding programs, Canadian firms must meet basic eligibility criteria. Although specific eligibility requirements vary from program to program, most require applicants to:
- Be incorporated for at least 3 years;
- Have 5 or more payroll employees;
- Have at least $500,000 in annual revenues;
- Add value to the supply chain via internal manufacturing or research and development activities; and
- Not be an exclusive retailer or distributor.
These are general eligibility factors and businesses should consult specific Canadian government funding programs for specific eligibility criteria. To discuss your eligibility for business funding programs, please contact Mentor Works.
Small Business Funding Grants and Loans for Startups
Most Canadian and Ontario government grants and loans are only applicable to businesses that have been incorporated for at least three years. However, this is not to say that startups and entrepreneurs do not have other opportunities to receive funding and business expansion support. Several resources are available to help startups with incorporating and growing their business to a maturity where traditional small business grants and loans can be accessed.
To discover the steps your early-stage business can take to expand its funding eligibility, please download our free Startup Funding Checklist.
Stay Connected with Mentor Works
Our website serves as a comprehensive resource for loans and grants for small business’ strategic initiatives. Whether you are looking for a specific funding program, questions on the process, or would like to partner with us to help your clients obtain funding, we always appreciate when our readers contact us. We also provide regular funding updates through the weekly Canadian Government Funding Snapshot™ e-newsletter and through our Twitter, LinkedIn, and Facebook social media channels.