Canadian Government Support for Small Businesses

The Canadian government is one of the most supportive governments to breed entrepreneurship, and you, as a Canadian, have the opportunity to take advantage of the multiple funding programs that your small business can get funding for. Not only are you able to benefit as a startup business coming up, but if you are an existing business looking to grow, a lot of support is provided.

How Does Small Business Funding Work?

Small business funding via the government of Canada has a bit of a funny way in regards to how it works.

Since there are hundreds (nearly 1,000) funding programs coming from a number of funding agencies across Canada, you as an entrepreneur really have to know where to apply, who to send the application to, and what to apply for.

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That is usually the biggest challenge small business owners in Canada have when looking for small business funding.

The good news is your small business can get funding for a number of things, but before you start filling out every single funding application you see in hopes of getting a million dollars to start or grow your small business, you have to know how it all works.

So here it goes:

In order to benefit from government funding for your small business in Canada, you have to have a business plan written. Once you have a well-developed business plan created, your funding needs should already be clear to you. Whether you need funding to pay for tools or to cover advertising expenses, you will be able to see this in your business plan and from there be able to search for funding based on this.

Searching for funding programs that your small business can get funding from is not easy. Sure, there are nearly a thousand different programs, but the challenge is finding these programs and picking the right ones for your funding needs, your industry, and your location.

Searching for Government Funding Programs

Searching for government funding programs is simple if you know where to look. This is why our Funding Database comes in very handy. Instead of you as an entrepreneur with a thousand things on your mind having to search on Google for weeks trying to find programs, we have them in one place for you, which really saves a lot of time.

When you start your funding search, you have to break it down into three sections.

Find programs that are for your location (usually broken down by province).Remember, not all programs for your province will be offered by your province. Sometimes there may be federal programs that fund every province. Do not be discouraged if your preliminary search does not find much funding. It is there; you just have to know how to look.
Find programs that are for your industry (you can be in multiple industries).A lot of times, funding agencies are there to support businesses in various industries, whether it is agriculture, technology, real estate, or something else. Funding is available, and you just have to be able to locate the program that fits your industry. Searching by industry is often not the best way to search, but it does help narrow down to a more specific list of programs.
Find programs by funding needs (what do you need money for).Searching by funding needs is usually the best way to search, as it is more specific. Many business owners start with this as the primary filter and add industry and location afterward. When searching by funding needs, be specific about what you need funding for. Do not just say, “I need funding to start up.” Instead, explain your funding needs more clearly, but do not be too specific or you may not find anything. For example, search for “funding for equipment” instead of “funding to buy a printer.”

7 Things Your Small Business Can Get Funding For

To give you a better idea of what your small business can get funding for via the government of Canada, here are seven things that could be covered:

Government funding to help you hire employeesThere are a number of programs that assist startups and existing business owners with hiring employees. Be sure to look for these types of funding programs in our funding database.
Government funding to train your staffWith many skilled trades out there, there are funding programs offered by the government that allow small business owners to get funding to help train their staff.
Funding to purchase tools, equipment, supplies, and inventoryOne of the most popular funding needs when starting up or expanding your business is funding to help pay for tools, equipment, supplies, and inventory. There are a number of funding programs that can assist. Get ready for funding via our funding database and see all of these funding programs.
Government funding to pay for marketing and advertising costsWhether you are starting up or expanding your small business, more money for advertising can always be helpful. The government of Canada has a number of programs that can assist small business owners with marketing and advertising.
Improving cash flowOne big challenge when starting up is having enough capital not only to start but also to run your business. The government has funding programs that can help you improve cash flow while you get started.
Research and development fundingYou may have a great idea and be ready to launch, but your offering may need more work before revenue starts coming in. The government of Canada has funding programs that help startups and existing business owners pay for research and development of their products and services.
Funding for leasehold improvementsYou rent a new place for your business and need renovations to bring it up to date and match your desired look and feel. It can be difficult to spend your own money when there are many financial concerns. The government of Canada has funding programs specifically designed to help with leasehold improvements, renovations, and acquiring land.

These are seven things that the government of Canada has funding programs for your business. It is important to only seek funding for things that you actually need.

Funding programs, even though available for many industries, locations, and purposes, may not always be for everyone. Each funding program has its own set of requirements and criteria that must be met before being eligible.

Get in touch with our funding experts to find out if your small business is eligible.