Government Grants for Business in Canada

There are over 405 grant and loan programs available to Canadian businesses in 2010.

The government of Canada's "Canada Business" website lists 405 grant programs available to businesses in Canada in 2010. While recent fluctuations in the Canadian economy have caused the government to tighten its "spending belt" in many areas, the government's "Economic Action Plan" supports spending to benefit Canadian businesses of all sizes. The rationale is that these investments will create jobs and improve the performance of Canadian businesses, which will benefit the economy. Today, federal and provincial grants are available to companies at all stages of development in many different industries and sectors. Some target visible minorities or disadvantaged groups.

Start-ups

Numerous grants are available to help get businesses off the ground. These grants require a solid business plan and applications often ask for letters of reference from your bank. Examples include the "Foundation du Maire de Montreal Pour la Jeunesse" grants for young entrepreneurs in Quebec, which can value up to $25,000; "Ontario Summer Company" grants, offering up to $3,000 to students aged 15-29 to help start and run a business; "First Nations and Metis Economic Development Program" grants, offering up to $50,000 to historically disadvantaged groups in Saskatchewan to start businesses in key sectors; and "Northern Ontario Young Entrepreneur" grants, available to individuals aged 18-25 who plan to start a for-profit business in northern Ontario.

Research and Technology

Research and technology grants are available to established businesses in Canada and are geared to encourage projects that can improve products and services to Canadians, or to make Canadian products and services more competitive for export. Examples include "Business and Market Development" grants for innovative businesses, offered in Newfoundland and Labrador in values up to $25,000; "Clean Energy Technology Demonstration Program" grants, available to businesses in Quebec working on projects that can limit or correct harm to the environment; "Emerging Technology Program" grants for incorporated businesses in northern Ontario researching and developing new technologies; and "Geo Connections Program" grants offered to companies throughout Canada that are creating geographical location databases, digital maps or satellite images.

Industrial and Manufacturing

Funds tailored for industrial and manufacturing companies in Canada include "Agri-Processing Initiative" grants, valued up to $2,000,000, and offered to agriculture-based companies buying new equipment to update manufacturing processes; "Craft Development Program" grants, available in Prince Edward Island in denominations up to $1,000 in support of the creation of crafts products; "Match Investment Fund" grants, offered to producers of milk and manufacturers of processed milk products in Canada who are looking to update technologies and equipment; and the "Prospector's Assistance Grant", which provides up to $4,000 to individuals aged 19 or older involved in independent mineral exploration in Newfoundland and Labrador.

Export

For export oriented companies, funding is designed to support research, marketing and logistics to send products and services abroad. Examples include "Going Global Innovation" grants, which provide $5,000 to $75,000 to Canadian companies looking for international collaborators for research and development; "Aerospace and Defense Development" funds, designed to support contract bidding, technology transfer and export of the services of aerospace and defense companies in Newfoundland and Labrador; "Book Publishing Industry Development Program" grants, available to Canadian publishers of Canadian books to support marketing, promotions and logistics for export; "Business and Market Development Program" grants, offering up to $25,000 to companies in Newfoundland and Labrador exploring new growth opportunities abroad; and "Marketing Support Program" grants of up to $40,000, offered to businesses in Prince Edward Island to help export products and services in key industries.

References

• Canada Business; Government Grants, Loans and Financing
• Government of Canada: Canada's Economic Action Plan