Access Now
Funding

Small Business Success Grant Program

by admin
19 July 2023

“Unlock Your Success Story: Propel Your Small Business Forward with the Small Business Success Grant“

Provided by: SBSG Canada

Current Stage Deadline: September 8th, 2023

Apply via the Funding Database

The early stages of a startup can often be the most challenging.

SBSG understands that getting your new business off the ground can be an exhilarating yet challenging journey. The Small Business Success Grant Program, which offers up to $1,500 in non-refundable funding, is designed to support small businesses like yours and help you turn your great ideas into successful ventures.

Small Business Success Grant Overview

The Small Business Success Grant is a program specifically created for new, for-profit, privately owned businesses located in Ontario.

If your business has generated no more than $10,000 in annual revenues, you’re eligible to apply. What’s even better? You can use this grant as you see fit to further the growth of your business. There are absolutely no strings attached!

Here’s a sneak peek into what this program offers:

$1,500  – a Non-Refundable / Non-Repayable Grant
No credit checks required – or minimum revenue requirements
Grant Writer Not Needed
No Restrictions on how you can use the funds
Matching Contributions are not required to be eligible

Applying to the Small Business Success Grant Program is unlike any other program currently available – as it is available to you with the bare minimum in requirements and eligibility.

WANT TO LEARN MORE?

Finding Government Funding For Your Small Business

CLICK HERE FOR DETAILS

SBSG Program Eligibility Criteria

To qualify for the Small Business Success Grant, you must meet the following criteria:

Your Location:

Your business must be located in Ontario.

Business Age:

Your business should be less than 1 year old – from the registration date.

Revenue:

Your business should have generated no more than $10,000 in revenue since its inception

Registration:

Your business registration process should be completed. This can be done via federal or provincial incorporation or a Canadian resident sole proprietorship.

Documents:

You must provide a complete business plan and PitchDeck presentation to be considered.

Membership:

You must have a valid membership with Ontario Startups, which you register for here – or submit a $20 application if you are a non-member.

Securing a grant can significantly boost your business’ potential by providing the much-needed capital to move your startup forward.
Whether it’s for purchasing essential equipment, funding marketing efforts, managing cash flow, or covering payroll, the grant can cater to various needs.

The Small Business Success Grant provides an excellent opportunity for Canadian entrepreneurs. Unlike other grant programs, there are no
strings attached. You can use the funds as you see fit to drive your business growth.

Application Process

To start the application process for the Small Business Success Grant offered by SBSG.ca, complete the initial form found on the website to put in the request. Shortly after, the application steps will be emailed to you.

Along with your completed application form, compile all the necessary documents and information and submit your application before the deadline presented on sbsg.ca

Remember, providing accurate information and a well-prepared business plan is essential to increase your chances of receiving the grant. The application process is straightforward, and no professional grant writer is needed.

Good luck with your application!

Frequently Asked Questions

What is the Small Business Success Grant?

The Small Business Success Grant is a funding program offered by Canada Startups, providing up to $1,500 in non-refundable funds to new, for-profit, privately-owned businesses in Ontario.

Who can apply for the grant?

To be eligible for this grant, your business must be less than a year old, located in Ontario, have an annual revenue of no more than $10,000, and be either federally or provincially incorporated or a Canadian resident sole proprietorship.

How can I use the grant funds?

The grant money can be used for any business-related expense, including purchasing equipment, marketing and advertising, managing cash flow, covering payroll, and more. There are no restrictions on how you can spend the funds

Do I need to have good credit to apply for the grant?

No, a credit check is not required for the application. This grant program aims to support new businesses and does not require a credit check or a minimum revenue requirement.

Do I need to hire a grant writer to apply?

No, you do not need to hire a grant writer. The application process for the Small Business Success Grant is simple and straightforward.

When is the application deadline?

The next deadline to submit applications for the Small Business Success Grant program is September 8th, 2023.

How competitive is this grant?

Grants are generally competitive, as they are a popular form of funding, especially for new businesses. However, the exact level of competition varies based on the number of applications received during each application period.

Do I have to repay the grant?

No, the grant is non-refundable, meaning you do not have to repay the money

How can I apply for the grant?

To apply for the grant, you need to complete and submit the application form, along with the required documents and information, on the Ontario Startups website before the application deadline.

Can I apply for the grant if my business is not incorporated?

Yes, you can apply if you are a Canadian resident sole proprietor. However, the business registration process must be completed.

Application Checklist

It is always a good idea to follow a checklist to determine that you have all that you need to successfully apply for the grant program.

Before you start, it is essential to confirm the following:

  1. Is your business located in Ontario?
  2. Is your business less than 1 year old?
  3. Ensure you have under $10,000 in revenue
  4. Your business must be registered
  5. Have your valid membership to Ontario Startups (or be prepared to pay the $20 application processing fee)

In terms of the documentation required to apply; you must have your 3-year financial statements and proper business plan – ensure this is reviewed by an expert and given the go-ahead. Be sure to have your PitchDeck presentation ready to go, and approved by an expert. If you have a website, ensure it is reviewed by an expert to evaluate and increase your chances of success with the Small Business Success Grant.

For added security, you can register as a member of Ontario Startups here: www.Ontariostartups.org/purchase – to ensure you can get expert help with your business plan, financials, pitch deck, and funding search, and application steps.

Funding

Female Entrepreneur Grants in Ontario

by admin
17 July 2023

When starting a new business, one of the biggest hurdles for aspiring female entrepreneurs is often the funding needed to get off the ground. However, in Ontario, there is a wealth of opportunities to tap into grants specifically designed to help and empower female business owners. These grants can provide valuable capital for starting or expanding businesses, and they also serve as a vote of confidence that can boost your credibility in the eyes of investors, customers, and partners.

In this article, we will take an in-depth look at some of the most significant grants available for female entrepreneurs in Ontario, detailing their benefits, eligibility criteria, and how you can apply.

1. The Women Entrepreneurship Fund (WEF)

The Women Entrepreneurship Fund is a federal initiative aimed at supporting women to grow their businesses and reach new markets. It offers grants of up to $100,000 to cover up to 50% of project costs.

To be eligible for this funding, businesses must be at least 51% owned or controlled by women, be operational for at least two years, and demonstrate a clear and viable business growth strategy. The fund primarily targets businesses in sectors where women are underrepresented or have significant potential for growth.

2. The Women Entrepreneurship Strategy (WES) Ecosystem Fund

Similar to the WEF, the WES Ecosystem Fund is another federal initiative. It supports non-profit organizations that help female entrepreneurs by providing mentorship, skills training, capacity building, and access to networks or expertise.

Grants range from $20,000 up to $3 million, and eligible organizations must have a strong track record of supporting women entrepreneurs. This fund can be an excellent resource for entrepreneurs seeking expert advice and mentorship, in addition to financial support.

3. BDC’s Women in Technology Venture Fund

The Business Development Bank of Canada (BDC) has established the Women in Technology (WIT) Venture Fund, a $200 million fund dedicated to investing in tech companies led by women. The fund aims to create a thriving ecosystem of women-led technology firms and enhance gender diversity in the technology sector.

While not a traditional grant, the fund is an equity investment which can provide substantial financial resources for eligible businesses. Female entrepreneurs running tech startups can benefit from not only the financial infusion but also the added advantage of a strategic partnership with BDC.

4. The PARO Centre’s Peer Lending Circles for Women

PARO Centre for Women’s Enterprise is one of Canada’s strongest community economic development organizations, based in Ontario. They offer Peer Lending Circles for Women, which are peer-to-peer microfinance groups where each member receives a small business loan of up to $5,000.

In addition to the funding, members benefit from peer support, business training, and networking opportunities, helping women entrepreneurs in Ontario to start, grow, and sustain their businesses successfully.

5. Futurpreneur Canada Startup Program

Futurpreneur Canada offers the Startup Program, which supports young entrepreneurs with up to $60,000 in financing, an expert business mentor for up to two years, and resources to help you plan, manage and grow your business. While not exclusive to women, this program is very inclusive and actively encourages applications from diverse and underrepresented groups, including women.

To be eligible, entrepreneurs should be aged 18-39, planning to start a full-time business in Canada, and not studying full time or in a full-time job.

6. SheEO Radical Generosity Initiative

SheEO’s Radical Generosity Initiative is a unique funding model, wherein hundreds of women (“Activators”) contribute a monetary gift that is pooled together into a fund. The fund is then distributed as zero-interest loans to women-led ventures that are chosen by the Activators.

The initiative provides female entrepreneurs with low-interest capital, as well as access to a network of supportive women who can provide advice, mentorship, and customer connections.

In addition to these grant options in Ontario, you can review the Funding Database which lists out over 1,500 different grants, government loans and tax options for entrepreneurs to take advantage of.

Each of these grants, funds, and initiatives has its own unique strengths and eligibility criteria. As an aspiring or established female entrepreneur in Ontario, it’s well worth your time to thoroughly research each one to determine which could provide the most valuable support for your business.

Starting a business is never easy, but with the right support and resources, it becomes a more attainable goal. The grants and initiatives listed above are just a starting point. There are many more opportunities out there for female entrepreneurs in Ontario. Explore, research, and don’t hesitate to reach out to these organizations directly to discuss your business ideas. Your entrepreneurial journey may be challenging, but remember, you’re not alone, and there’s a wealth of support available to you.

Small Business Government Funding Uses
Funding

20+ Small Business Funding Uses that the Ontario Government Funds

by admin
7 March 2022

20+ Small Business Funding Uses that the Ontario Government Funds

If you have ever wanted to start your own small business in Ontario, it is crucial to know that various government funding programs exist that help fund small business owners across Ontario.

These funds, government-provided, come via the various levels of government, including local government offices; the Ontario provincial government, and the federal government of Canada. They all funnel money towards small businesses and entrepreneurship in the province.

Knowing how to take advantage will give you a step up towards success by securing the needed funds for your business.

So; what does the Ontario government cover in terms of small business funding?

While the funding needs vary from business to business, the various agencies that fund Ontario small businesses focus on a number of activities, as they categorize them into 20+ different sections of “acceptable funds use”.

These 20+ different funding uses are not the only ones, but most others will fall into one of the mentioned categories.

20 Small Business Funding Uses that the Ontario Government Funds

Before you can apply for any funding in Ontario; be sure that you have a solid business plan completed. Your business plan should clearly explain your business model, show your business potential, list out the projected financial statements as well, breakdown your funding needs into the below-listed options:

  • Acquisition
  • Business Development
  • Training
  • Consulting Services
  • Financing Services
  • Product Development
  • Job Creation
  • Equipment
  • Trade Shows
  • Exploration
  • Evaluation
  • Business Planning
  • Operating Capital
  • Renovations
  • Expansion Capital
  • Marketing
  • Business Startup
  • Productivity
  • Research
  • Wage Support

Most funding needs that you as a small business owner may have, will fit into one of the above-mentioned funding uses.

Funding Tip:

When you are asking for funding from a government agency, it is always a good idea to break down your funding needs into the specific funding uses that are listed above. The more you can break down your needs, rather than ask for a lump sum, the more options you may be considered for.

As you apply for government funding, the various uses that the Ontario government may fund is crucial to know and understand; not only in your search for funding but in the application process as well.

It is also a good idea to avoid falling for the most common funding mistakes.

Common Government Funding Mistakes (and how to avoid them)

Simple mistakes are often the cause of many failed funding applications.

The Ontario government has a number of funding options available to help small business owners. In fact, there are hundreds of funding programs available and they constantly change as well.

The # 1 mistake business owners make when searching for funding is searching for a “too specific”, or “not specific enough” funding need.

Example:

I need $10,000 to start my business.

  • While this seems to be a very simple and easy-to-understand approach, a funding agency may look at it and say “no”. Why? Well, since there are many different funding agencies, not all fund the “startup process”. Some fund marketing costs, some equipment purchase, some cover wages of staff and potential employees..etc”; but not all do the same thing.

A better way to approach this type of scenario is to breakdown your funding needs:

I need $10,000 in funding to start my business. With that, the following breakdown will help me accomplish my goals. I need $2,500 to cover training costs; $5,000 to purchase equipment and another $2,500 to pay for some marketing expenses.

The same idea; but broken down, utilizing the funding uses mentioned. This can allow you as a small business owner to apply for 3 potential program options. Options that cover marketing; training costs and equipment purchase.

Another example of a common mistake is asking for funding and being too specific.

I need $5,000 in funding to pay for the ladder on my work van.

If you are to contact any funding agency in Ontario and ask for funding to pay for a ladder on your work van; you will most likely be denied – or explained that there is no funding for that.

They are not wrong. There is no funding for a ladder on a work van – but there is funding for equipment purchase.

The key to a successful funding application and funding search is patience and a choice of words.

Don’t be too specific and don’t be too broad in your request.

If you need help and guidance, asking an expert at Ontario Startups what you may be eligible for is a good idea.

1 2
Recent Posts
Request More Information

    Privacy Settings
    We use cookies to enhance your experience while using our website. If you are using our Services via a browser you can restrict, block or remove cookies through your web browser settings. We also use content and scripts from third parties that may use tracking technologies. You can selectively provide your consent below to allow such third party embeds. For complete information about the cookies we use, data we collect and how we process them, please check our Privacy Policy
    Youtube
    Consent to display content from - Youtube
    Vimeo
    Consent to display content from - Vimeo
    Google Maps
    Consent to display content from - Google
    Spotify
    Consent to display content from - Spotify
    Sound Cloud
    Consent to display content from - Sound
    Save
    ACCESS NOW