Free Money, Yes Please! Canadian Small Business Grants.

You know the old saying - it takes money to make money - well that’s only partially correct. Achieving and sustaining growth without investment can be tough.

It’s a great idea for any Canadian entrepreneur to build an understanding of grants and apply for financial resources.

Don't ask, don't get!

Small boosts in times of growth can make a huge difference and there are plenty of resources available for your business.

So what is a grant, anyway?

It’s funding given to a business by the government, a company, or a not-for-profit organization with no expectation of payback.

Grants are often financial in nature, but some can also offer you free services, technology, or other resources. They are often connected to programs focused on helping to grow small businesses, or on giving underrepresented communities a springboard to business growth.

So how can you get them?

How do you find the right grants for your business?

The best way to find grants is to search online! Sources of grants tend to change with time, so it’s important to do your research proactively and periodically check for new grants that may be a fit for your business.

FREE MONEY, YES PLEASE!

Government Grants

The Government of Canada Business and Industry website has a very helpful section dedicated to business grants and financing. Among other useful topics and resources, you’ll find the grants, contributions and other financial assistance section where you can review the currently available grants from across Canada. The database of grants is simple to use and allows you to filter the list of grants based

on several criteria like your location, needs and goals

which makes it even more useful.

Provincial governments also offer funding opportunities and other resources, so it’s great to visit your provincial business development website and get informed on what’s available to you.

• Alberta

• British Columbia

• Manitoba

• New Brunswick

• Newfoundland and Labrador

• Nova Scotia

• Ontario

• Prince Edward Island

• Quebec

• Saskatchewan

• Nunavut

Businesses interested in exporting should check out the Trade Commission of Canada Funding and Support page, which aims to help small businesses, exporters, innovators, associations and communities break into new markets.

Community, Not-For-Profit and Brand Grants

Is your business focused on technology and innovation?

Learn about Canada’s Centre of Excellence in Next Generation Networks or CENGN. Through partnerships with technology companies, educational institutions and government agencies, CENGN supports projects from small and medium Canadian businesses to build “promising new technologies.”

The Visa Canada Small Business Hub is a helpful hub of resources for entrepreneurs and small business owners, and it includes information on the She’s Next Grant Program, which offers $10,000 plus access to an accelerated mentorship program through York University to women entrepreneurs. This program accepts new applications annually, so be sure to check the site for information about its next round of funding.

Are you a young entrepreneur?

Young entrepreneurs, aged 18-39 can apply for funding through the Futurpreneur program, which has been supporting Canadian start-ups and small businesses for over 25 years. The program offers funding, mentorship programs, tools and networking opportunities, be sure to bookmark this site.

Red Flags - When a grant is really a scam

Here are the warning signs to look out for:

• Application fees. Legitimate granting agencies are focused on giving out money, they will not ask you to pay processing fees or application fees. Some grant programs may have an investment requirement from the recipient, but those investments happen only once you’ve received your grant and are meant to be an obligation upon the business to use the grant funding toward its intended purpose. Stay away from any grant offers that ask you to pay upfront.

• Instant approvals. Grant programs require an application and it’s not unusual for them to be run like a competition, where applicants’ project merits are weighed against the grant criteria and each other, and only a select few applicants are awarded funding. Be vigilant if you see offers of instant approvals, this may be an information theft scam.

• Bigger grants for an extra fee. Reputable grant programs are very clear about potential awards and do not require you to pay to be considered for a higher prize. Keep away from anyone trying to upsell you on a grant, this is a clear sign of a financial scam.

Grant Long and Prosper

Business funding can make a significant difference in the speed of your growth. Whether you’re at the starting stage or have an established business that’s ready to expand, we hope you find funding that helps to support your goals.

• Your Marketing Apothecaries, Joanna and Monika