Did you know that the Government of Canada gives out billions of dollars in business grants every year?
This is not including the many tax credits, loan programs, in-kind support, and wage subsidies that are provided by the federal government.
We have put this list together that shows the organizations, ministries, and groups on the federal level that are willing to help you if you have a for-profit business in Ontario.
New Government of Canada Business Incentives for 2021
Agricorp AgriStability
Producers who are experiencing a large decline in income from their farming business that was caused by increased costs, a loss in production, or market conditions can receive protection from this program when the net farming income drops below 70% of the recent average. The allowable expenses and income for all of the commodities that you produce are used in order to calculate your margins which will protect the income of your whole farm.
Agriculture and Agri-Food Canada and Provincial and Territorial Governments - AgriRecovery
The AgriRecovery provides targeted disaster-specific programming when help is needed beyond the already existing programs such as AgriInsurance, AgriStability, and AgriInvest. This is more of a framework than a program, it forms the basis by which provincial, federal, and territorial governments will work together to determine the impacts of disasters on agricultural producers and respond with initiatives when there is a need for help beyond what is already available from existing programs.
Agriculture and Agri-Food Canada (AAFC) - AgriRisk Initiatives (ARI) - Administrative Capacity Building (ACB) Stream
The ARI is a five-year program that supports the development of new tools for risk management. The ACB stream of the program provides financing to be used to implement and test new financial tools that can be used by agricultural producers to manage defined business risk, including responding to livestock and crop diseases, protection from severe market price changes, protection against the loss of contracts in a new market, and more.
Agriculture and Agri-Food Canada (AAFC) - Mandatory Isolation Support for Temporary Foreign Workers Program
The costs associated with the mandatory isolation period can be offset by this program by providing a maximum non-repayable contribution amount for each temporary foreign worker. The mandatory 14 day isolation period refers to the quarantine period that is imposed on people arriving in Canada from abroad.
EDC-BDC International Purchase Order Financing Partnership
To support the growth of businesses, the EDC and BDC have collaborated to provide businesses with capital that is vital to maximizing international market opportunities. The funding can cover up to 90% of the number of purchase orders.
Business Development Bank of Canada (BDC) - Mid-Market Financing Program
This program provides loans for medium-sized businesses that have been impacted by the COVID-19 pandemic and/or the recent decline in the price of oil and gas. This program is for any industry or sector and the business needs to have annual revenue between $100 million to $500 million.
Business Development Bank of Canada (BDC) - Co-Lending Program
Canadian businesses can receive a loan from this program if they have been indirectly or directly impacted by the COVID-19 pandemic for their operational cash flow needs. The funds are co-financed between the BDC and the primary financial institution of the applicant.
Business Development Bank of Canada (BDC) - Highly Affected Sectors Credit Availability Program (HASCAP)
Businesses that have been heavily impacted by the COVID-19 pandemic can access guaranteed, low-interest loans through the HASCAP to cover the needs of operational cash flow. The funding will take the form of a loan and entrepreneurs can apply for each legal entity that they own.
Department of National Defence Innovation for Defense Excellence and Security (IDEaS)
The IDEaS program was made to address the current and future challenges that are being faced by the Canadian Armed Forces. It provides creative thinkers with the support and structure to encourage solutions that will assist in solving some of the toughest security and defence challenges in Canada.
Champions for Canadian Women in Trade - Export Development Canada (EDC)
Canadian women entrepreneurs can receive funding through this program in the form of equity capital through both direct investment and investment in Canadian venture capital funds. The support is intended to increase business development through export.
Direct Lending - Export Development Canada (EDC)
If your business needs help to expand in international markets, whether your business is small or large, this program will offer direct financing to your business or your foreign affiliate through a secured loan. The loan can be used to support your plans for expansion, including the financing for facilities, equipment, or the expansion or the establishment of a foreign affiliate.
Export Development Canada (EDC) - EDC Business Credit Availability Program (BCAP) Guarantee
The BCAP Guarantee provides support to companies in Canada, no matter whether they sell within Canada or internationally to improve their cash flow to cover the costs for operating. These businesses can get the needed cash flow during the COVID-19 pandemic by working with the EDC or their financial institution.
Structured and Project Finance - Export Development Canada (EDC)
The EDC provides funding through this program for companies with activities for exporting outside of Canada and large-scale global projects in the power, extractive, utilities, industrial, or infrastructure sectors. It is designed specifically for a limited recourse financing of capital, long-term intensive projects.
FedDev Ontario - Regional Relief and Recovery Fund (RRRF)
This program is a lifeline for business and organizations liquidity that has been impacted by the disruption to the economy associated with the COVID-19 pandemic in nearly every sector. The aim is to address the gaps in or supplement other federal measures for relief, as well as complement the programs that are already provided by the other levels of government.
FedNor - Regional Relief and Recovery Fund (RRRF) - Regional Economy Stream in Northern Ontario
Just like the program that we have previously discussed above, this program supports businesses and eligible not-for-profit organizations that have been impacted by the COVID-19 pandemic and the economic disruption that has been the result of it across the regions of Canada.
Regional Innovation Ecosystems stream - Regional Economic Growth Through Innovation (REGI) Program - FedNor
The aim of this program is to create, grow, and develop inclusive and strong regional ecosystems that will support business innovation and growth, as well as the entrepreneurial environment that is necessary in order to build more innovative regional economies and increase the competitiveness of small or medium-sized businesses.
The National Research Council of Canada - Challenge Programs
The NRC has partnered with public and private sector, academic, and other research organizations internationally and in Canada through the Challenge Program to advance high-risk, high-reward, and transformative research that addresses priorities in