This will be the only guide that you will need to understand the small business grants that are available in Ontario if you have been struggling to understand how Ontario business funding works.
We are outlining the major sources of loans, grants, and tax credits that are available to you as an entrepreneur in Ontario.
So, let’s find you some money!
Government Sources of Funding for Businesses in Ontario
It is hard to come by solid numbers, but an in-depth study found that the Government of Canada and the four largest provinces, including Ontario, spend $29 billion in subsidies, including grants, tax credits, investments and more in one year.
The bottom line is, there are a ton of funds available to support businesses from the various levels of government.
To help businesses grow and increase employment the government provides loans, grants, investments, tax credits, and in-kind support to support a wide variety of sectors.
While the government may support a wide range of activities from businesses, the government funding will typically fall into five categories:
- Hiring
- Training
- Capital Investment
- Research & Development
- Business & Market Development, including exporting, working capital, etc.
So, let’s jump into the sources of funding from the government.
Sources of Federal Government Funding
New Small Business Incentives
Government of Canada, Natural Resources Canada – Emissions Reduction Fund (ERF) – Onshore Program
The ERF features contributions with a flexible five-year payback period that are either repayable or partially repayable, these contributions are for projects that are made to reduce greenhouse gas emissions as well as partially repayable contributions for projects that are designed to eliminate emissions.
Indigenous Forestry Initiative – Natural Resources Canada
This program helps by funding to support Indigenous-led economic development in the forestry sector in Canada. The aim of the funding is to increase participation from the Indigenous community in forestry-related opportunities, careers, businesses, and governance.
Sustainable Development Technology Canada (SDTC) – Clean Tech Fund
Promising cleantech demonstration and development projects that are in the start-up or scale-up phase can receive funding from the SDTC before commercialization. The tech must demonstrate the potential for the reduction in greenhouse gas emissions, reductions in water and/or water consumption, and soil or air contamination.
Sustainable Development Technology Canada (SDTC) – Seed Fund
Early-stage entrepreneurs in Canada can receive a one-time grant for their innovative tech projects that have benefits for the environment. The SDTC has partnered with a group of select approved accelerators and other entrepreneurial service organizations across the country in order to identify the entrepreneurs who are on the right path to becoming the next leader in tomorrow’s cleantech.
College and Community Innovation Program – Engage Grants - NSERC
The Engage Grants were made to give innovative companies that are operating from a base in Canada access to the expertise, knowledge, and capabilities that are available at colleges in Canada. The intention of the grants is to foster new research partnerships by supporting short-term research and development projects that address a company-specific problem.
College and Community Innovation Program – Engage Plus Grants - NSERC
An ongoing or recently completed project that has received an Engage Grant can receive support from the Engage Plus Grant to further their developments or continue the project while seeking support that is more longer-term.
College and Community Innovation Program – Entry-Level Innovation Enhancement Grants - NSERC
This grant is available to colleges that have not already received an Innovation Enhancement Grant, TAC, or Industrial Research Chair for Colleges grant. Colleges that follow this criterion can seek out an Entry-Level grant from Innovation and Enhancement Grants to start their applied research program.
College and Community Innovation Program – Build and Extend Innovation Enhancement Grants
Colleges that have been previously awarded an Entry-Level Innovation Enhancement Grant can apply for a Build grant in the same area of applied research. Colleges should have increased their capacity for applied research and developed the necessary strong partnerships with their regional company partners at the end of their Build grant to sustain parts of their applied research activities through other opportunities such as the Extend grants.
College and Community Innovation Program – Innovation Links Grants - NSERC
College-university collaborations that are working with the business sector can receive support from this program to realize commercialization successfully. The intention of the grants is to support the participation of colleges and universities in the extension or improvement of existing commercial products or company technology, services, and/or processes.
Natural Sciences and Engineering Research Council of Canada (NSERC) – College and Community Innovation Program – College and Community Social Innovation Fund (CCSIF)
These grants are designed to support focused and well-designed community innovation projects that have been undertaken by college researchers with partners from the private, public, or not-for-profit sectors.