Government Grants for Businesses in Canada
Government grants for businesses in Canada are available, but there are many misconceptions which are often caused by individuals who have applied and been denied government funding, or have not applied at all due to a previous negative belief about government grants.
We are here today to share with you 17 facts about government grants for small business owners in hopes of giving you a better understanding of what government grants are and to increase your odds of getting a government grant or government funding in general for your own small business.
17 Facts About Government Grants
- Government grants are offered by different levels of the Canadian government (federal, provincial, local, and municipal).
- There are many different government agencies that offer government grants.
- Government grants are not always free money.
- There are different types of government grants.
- Not all government grants are considered non-repayable government grants.
- There are partial contributions that the government provides to select business owners that are considered government grants.
- There are conditionally repayable government grants, and conditions vary from business to business.
- Government grant money obtained must be used for the specific purpose it was initially requested.
- Just because you are a Canadian citizen and you pay taxes does not mean you are eligible for government grants.
- Not everyone is eligible for government grants.
- Each government grant program has a different set of qualification criteria.
- Government grants do not exist for every funding purpose or industry.
- Government grants are not always better than loans.
- Government grant programs are always changing. Just because there is not one available for you now does not mean there will not be one next time you search.
- Government grant program deadlines are always changing.
- You need a business plan to apply to government grant programs.
- Government grants are like the game Where is Waldo; nearly invisible, but with some effort you will find them.
As a small business owner in Canada, your search for government grants and government funding should not take forever if you have the right tools and resources, such as the Funding Database. Otherwise, expect to spend four to six weeks trying to locate funding programs that may be right for you from the government directly.
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Remember, the more you know about government grants, the greater your chances of getting a grant will be.