You are guaranteed small business government grants if you apply. The government of Canada is just waiting to give you the money.
Every single person in Canada is eligible for a government grant because they pay taxes. Get a government grant and pay off your bills so you can start a business.
What is the truth and what is a myth?
It seems that no matter who you ask about small business government grants and loans, you will hear a different answer. Who do you believe? What is actually real and what is not?
Is government funding a real thing or what?
If you are looking to get a small business government grant for your own business in Canada, it is probably a good idea to get educated on government funding in general. Let’s take a few minutes together and discuss the facts of government grants and the fiction that many believe to be real.
GROW YOUR BUSINESS WITH GRANTS & LOANS
Learn about the funding available for your small business. It just takes a second!
Small Business Government Grant Facts
When it comes to obtaining a government grant for a small business, there are a lot of rules and regulations that must be met in order to successfully get funded. There are many misconceptions when it comes to government grants, so review the facts below to get a better idea of what government grants really are.
Not easily available or accessible
- Government grants, despite being available through various funding agencies across Canada, are not promoted and are often very difficult to find. It can feel like calling the government and trying to speak to a real person. The fact is that government grants are available but are extremely difficult to find.
Not for everyone
- There are many different government grant programs available, but just because you pay taxes does not mean you automatically qualify. Government grants are not for everyone. Each program has its own criteria and qualifications, which vary by province, industry, and funding need.
Not for every purpose
- Government grants must be used for the specific purpose you applied for. Grants may be available for hiring employees, training, going green, or creating jobs. However, if you want to buy a pickup truck for a construction business, a grant will not be available.
You need to be a Canadian citizen and operate in Canada
- If you are not a Canadian citizen or your business operates outside of Canada, government grants may not be available. Grants are offered to help Canadian businesses grow and stimulate the economy.
You need to have a registered business
- To apply for funding, you must be a registered business. You do not need to be profitable or generating revenue, but you must apply as a business and not as an individual.
Not all grants are non-repayable
- Government grants are not always free money. Some are repayable, partially repayable, or conditionally repayable. It is important to understand the type of funding you are applying for.
Grants are harder to obtain than loans
- Government grants are much harder to obtain than government-backed small business loans. There are more loan programs available, and business owners are more likely to qualify for a loan than a grant.
Small Business Government Grant Fiction
Like many complicated topics, misinformation about government grants has led to many myths. Below are some of the most common false beliefs about government grants for small business owners in Canada.
All you have to do is apply
- Simply applying does not guarantee funding. Grants are awarded to businesses that demonstrate clear benefits to the Canadian economy and long-term success.
I pay taxes so I deserve funding
- Paying taxes does not automatically make you eligible for funding. Taxes are used for many government programs. To qualify for a grant, you must have a registered business and meet program-specific criteria.
All government grants are non-repayable
- Not all government grant programs are non-repayable. It is important to understand the conditions attached to each program.
There are no government grants
- Being denied funding does not mean grants do not exist. The grant system is large, complex, and difficult to navigate, but billions of dollars are distributed each year.
Government grant guarantees
- No one can guarantee you a government grant. Be cautious of scams that promise guaranteed funding for a fee. Only funding agencies can approve grants.
You have to pay to get a government grant
- Applying for government funding is free. Some third-party services charge fees to help with applications, similar to hiring a tax professional, but the grant itself never requires a fee.
The more you understand about government grants and funding, the better prepared you will be. Speaking with experts can help guide you through the process and improve your chances of success.