Access Now
Ontario Government Grant
Funding

10 Ontario Government Grant FAQ’s

You probably already know this, but running a small business in Ontario can be challenging, especially when it comes to making ends meet. It’s possible that you’re looking for solutions to both save money and expand your company. Putting in an application for funding from the government is one possibility. There are a wide variety of grants that can be applied for, and each one has its own set of requirements.

Let’s go over the top ten questions that owners of small businesses often have concerning the grants that the government offers;

1. What are the various categories of government grants that are made available to small businesses?

Grants from the government are an essential source of finance for small business enterprises. There is a wide selection of funding opportunities available from the Ontario government, and each award has its own individual criteria for qualification. You have to satisfy a number of requirements that the government has set up before you can be considered for a grant from the government.

Grants for new firms, grants for research and development, and grants to promote exports are some of the many types of grants that are made available to business owners by the government. Because the qualifying conditions for each grant are different, it is critical that applicants read the instructions in great detail before submitting an application.

One of the requirements that is frequently seen for government grants is that the company must either be situated in a particular geographical region or be involved in particular kinds of operations. In addition to this, the company needs to provide evidence that it is unable to secure finance from any other sources.

When looking for funding, it is important to investigate all of your alternatives because grants from the government can provide essential financial support to businesses. Because the government provides such a wide variety of grant programs, each with its own set of qualifying standards, it is highly possible that there is a grant program that is suitable for the requirements of your company.

2. How do you find and apply to government grants?

Visit the website of the government agency that administers the grant program in which you are interested in order to improve your chances of being awarded a grant from that government. Because the government offers a diverse selection of grant programs, it is essential to thoroughly understand the requirements before submitting an application. This may be difficult to do, as there are so many different programs. To simplify your search, you can also look through the funding database that can be found at the following link: Funding Database which contains details on all of the different government grant opportunities.

Before applying for a government grant, it is essential to study the criteria in detail and make sure you satisfy all of the prerequisites listed for that particular grant. You have to satisfy a number of requirements that the government has set up before you can be considered for a grant from the government.

3. Are there any grants specifically designed for startups?

There is funding available from the government for companies of every size, and that includes new firms. There is a wide selection of funding opportunities available from the government, and each award has its own individual criteria for qualification. You have to satisfy a number of requirements that the government has set up before you can be considered for a grant from the government.

4. What are the benefits of receiving a government grant?

The benefits of government grants include:

1. Financial assistance: Government grants can provide vital funding for businesses, so it’s important to explore all your options when seeking funding. The government offers a wide range of grant programs with different eligibility requirements, so there’s likely a grant program that fits your business needs.

2. Increased visibility: A government grant can help a business gain increased visibility and credibility. In addition, a government grant can help a business expand its operations and reach new markets.

3. Tax breaks: Businesses that receive government grants are often eligible for tax breaks. This can help reduce the cost of doing business and improve the bottom line.

4. improved efficiency: A government grant can help a business improve its efficiency and become more competitive in the marketplace. In addition, a government grant can help a business expand its operations and reach new markets.

5. How much money can you receive from a government grant in Ontario?

The amount of money that a company can receive from the government in the form of a grant is contingent on the particular grant program that the firm is participating in. In most cases, a portion of the cash required to launch a new firm or grow an existing one can be obtained through grants offered by the government. Because the government offers a diverse selection of grant programs, it is essential to thoroughly understand the requirements before submitting an application.

6. How do I find out if my Ontario small business is eligible for a government grant?

Finding cash for your company through grants offered by the government can be an excellent option. But how can you determine whether or not your company is qualified to receive funding from the government?

When assessing whether or not your company is qualified to get a grant from the government, there are a few factors that need to be taken into consideration. You should begin by conducting research into the many different government grant programs that are now available. Because each program has its own set of qualifying standards, it is essential to locate one that is congruent with the objectives you have set for your company. When you have a list of possible programs in hand, the next step is to contact the government authorities that are in charge of the grants’ administration and inquire about the prerequisites for participation. They should be able to give you more detailed information about what it is that you will need to accomplish in order to qualify for the offer.  

Last but not least, keep in mind that the majority of times, grants from the government are won through a competitive process. Because of this, you should always put your best foot forward when applying for grants. Your chances of getting awarded a grant from the government will improve significantly if you carry out all of this research and put together a compelling proposal.

7. What types of small businesses are typically eligible for government grants in Ontario?

There are certain requirements that must be met in order for a company to qualify for a grant from the government of Ontario, which means that not every company may take advantage of this sort of financing. In order for a company to be considered for a grant from the government, it is often necessary for the company to be working within a particular industry or area, such as manufacturing, agriculture, or research and development. In addition, companies are typically required to fulfil specific size criteria, such as employing fewer than 500 people total. However, even if a company does not satisfy these qualifying standards, the government may still make other forms of support, such as loans or tax benefits, available to the company.

As a consequence of this, it is in the best interest of your company to investigate any and all of the potential sources of finance that are open to it.

8. How much money can I receive in a government grant?

The amount of money that you are eligible to receive from a government grant is contingent upon the particular grant program for which you have applied. There are a variety of programs available, and some of them offer smaller grants of a few hundred dollars, while others offer larger grants of several thousand dollars. Researching the requirements of each individual grant program and making direct contact with the administrator of the program is the most effective way to find out how much money you may anticipate receiving from the grant. It is important to keep in mind that receiving funds from the government in the form of a grant is often subject to intense competition; therefore, even if you are successful in receiving a grant, the amount may be lower than what you had first asked. Nevertheless, grants from the government might be a useful way to finance your company or your project.

9. What are the application procedures for government grants?

Grants from the government are sums of money that are given by the government to individuals or organisations for the benefit of a certain cause. There is no requirement that the government pay back the money, nor is there any expectation that the beneficiary of the gift will provide anything in exchange for receiving it. Applicants for grants are often required to participate in a competitive procedure, during which they submit proposals detailing the reasons why they should be awarded the money. After that, a group of knowledgeable individuals evaluates the applications and chooses the most qualified candidates based on the proposals. The criteria that must be met in order to qualify for a grant from the government are different from one kind of grant to another and from one government agency to another. However, the majority of applications need to include some fundamental information about the applicant as well as a comprehensive explanation of how the award will be utilised. Additionally, applicants should be ready to discuss why they should be selected to receive the award and not one of the other candidates. When asking for grants from the government, following these guidelines will help you improve your chances of being successful.

10. Are there any grants available specifically for startups in Ontario?

Startups often face a unique set of challenges when it comes to funding their business. Government grants are one possible source of funding, but many startups are unaware of the available options. The government offers a number of grants specifically for startups, including the Small Business Innovation Research Program and the Small Business Technology Transfer Program. 

These programs provide funding for innovative research and development projects that have the potential to create high-quality jobs and spur economic growth. In addition to government grants, there are also a number of private foundations that offer startup funding. However, these foundations typically require a more extensive application process and have stricter eligibility requirements. As a result, government grants are often the best option for startups seeking funding.

Different Types of Business Funding in Ontario
Funding

The Different Types of Business Funding in Ontario

As a business owner in Ontario, it is important to be aware of the different types of funding that are available to you. Depending on your business needs, there may be a number of different options that can help you get the funding you need. In this blog post, we will provide an overview of some of the most common types of business funding in Ontario.

Government Grants

One option for business funding in Ontario is government grants. Government grants are typically available for businesses that are working on research and development projects, or businesses that are expanding into new markets. To be eligible for a government grant, you will need to submit a proposal that outlines your project and how it will benefit the economy. If your proposal is approved, you will be awarded a grant that can be used to cover expenses related to your project.

To determine which government grants, government loans or tax breaks your small business may be eligible for, it is a good idea to review the Funding Database. It currently has over 1,500 funding programs and options for startups to consider.

Loans and Government Loans

Another option for business funding in Ontario is loans. Loans can be obtained from financial institutions like banks or credit unions or even the government of Ontario and federal government of Canada. The interest rate on loans varies depending on the lender, but it is typically lower than the interest rate on credit cards. When applying for a loan, you will need to provide financial statements and a business plan to the lender. If you are approved for a loan, you will be required to repay the loan over a period of time, with interest.

Venture Capital 

Venture capital is another source of funding that is available to businesses in Ontario. Venture capital firms invest money in businesses that they believe have high potential for growth. If you are able to secure funding from a venture capital firm, you will typically give up a portion of ownership in your company in exchange for the investment. 

There are many different options for business funding in Ontario. The best option for your business will depend on a number of factors, including the amount of money you need, the purpose of the funds, and your ability to repay any debt incurred. Be sure to do your research and speak with a professional before making any decisions about financing your business.

The top 10 Ontario government grants for small businesses
Funding

The Top 10 Ontario government grants for small businesses

Government grants can be a great way for small businesses to get the financial assistance they need to grow and succeed. There are a number of different government grants available in Ontario, and each one has its own set of requirements and guidelines.

To be eligible for a government grant, you must first meet the eligibility criteria. 

This includes things like having a certain number of employees, being located in a certain area, or meeting certain revenue or asset thresholds.

Once you meet the eligibility criteria, you then need to submit an application. This can be a daunting task, but if you follow the tips below you increase your chances of success.

Tips for successful grant applications

When applying for a government grant, it is important to remember that the competition is fierce. Only a small percentage of applicants are successful in obtaining funding, so you need to make sure you put your best foot forward. Here are some tips for successful grant applications:

1. Make sure you meet all the eligibility criteria. This includes things like having a certain number of employees, being located in a certain area, or meeting certain revenue or asset thresholds.

2. Clearly outline what you plan to use the grant money for and how it will help your business grow.

3. Have a solid business plan and financial projections ready to submit with your application.

4. Be prepared to answer questions about your business and why you need the grant money.

5. Follow up with any required documentation promptly.

6. Keep your application concise and well-organized.

7. Check the website of the granting agency for more tips on how to apply for funding.

If you are successful in obtaining a government grant, make sure you use it wisely to help your business grow. And remember, always read the terms and conditions carefully before accepting any money from the government!

Top 10 government grants for small businesses in Ontario:

1. The Small Business Innovation Fund

2. The Northern Ontario Heritage Fund Corporation

3. The Investing in Business Growth and Productivity Program

4. The Southwestern Ontario Development Fund

5. The Eastern Ontario Development Fund

6. The Northern Industrial Electricity Incentive

7. The Business Growth Initiative

8. The Rural Economic Development Program

9. The Northern Ontario Prosperity Initiative

10. The Investing in Commercialization Partnerships Program

To see all government funding options in Ontario that your small business may be eligible for, be sure to use the Funding Database.

Government grants can be a great way for small businesses to get the financial assistance they need to grow and succeed. There are a number of different government grants available in Ontario, and each one has its own set of requirements and guidelines.

To be eligible for a government grant, you must first meet the eligibility criteria. This includes things like having a certain number of employees, being located in a certain area, or meeting certain revenue or asset thresholds.

How to apply for an Ontario government grant
Funding

How to apply for an Ontario government grant

Ontario residents who want to start a business or expand an existing one can apply for government grants through the various government funding options that are available, both in the province of Ontario and through the federal government of Canada.

The process of applying for a grant is relatively straightforward, but it is important to carefully read the eligibility requirements and submit a complete application.

In this article, we will walk you through the steps of applying for an Ontario government grant.

Determine your eligibility to the funding options

The first step in applying for a government grant is to determine if you are eligible. The eligibility requirements will vary depending on the grant, but generally, you must be a Canadian citizen or permanent resident, and your business must be based in Ontario.

Keep in mind that some funding programs may be specific to a certain location within Ontario, or may be focused towards a specific industry, or have a goal in mind to fund only specific funding purposes.

To see all funding options in Ontario and to determine which ones you may be eligible for, be sure to use the Funding Database tool.

Prepare all the required documentation.

The second step is to gather the required documents.

This will vary depending on the grant, but typically you will need to provide information about your business, such as its financial statements and business plan. You may also need to provide proof of citizenship or residency.

The business plan will be the most crucial so ensure you have that ready. Using tools such as the Business Plan Builder will help.

To further assist you in the process, here are 8 steps how to create a proper business plan to help you with your funding in Ontario.

1. Define your business 

The first step is to determine what your business does. Write a short description of your product or service and why it is unique. Be specific and include any relevant statistics or data that illustrate the need for your business. 

2. Research the market 

Next, you need to understand who your target market is and what their needs are. Conduct market research by surveying your target market, reading industry reports, and speaking to experts in your field. This will help you to better understand your competitors and how to position yourself in the market. 

3. Set goals 

After understanding the needs of your target market and the landscape of your industry, you can start setting goals for your business. These goals should be specific, measurable, attainable, relevant, and time-bound (SMART). For each goal, outline the steps you will take to achieve it and the timeline for doing so. 

4. Outline your finances 

Now it’s time to get down to the nitty-gritty and outline your company’s finances. Start by estimating how much money you will need to get started and how much you anticipate spending each month. Then, estimate how much revenue you expect to generate each month. Be sure to include a contingency fund to cover unexpected expenses. 

5. Write your executive summary 

The executive summary is a brief overview of your business plan that highlights the key points of your argument. This is typically written last but should be placed at the front of your document so that readers can refer back to it as they read through the rest of your plan. 

6. Describe your team 

No business can succeed without a strong team in place so be sure to highlight the experience and qualifications of each member of your team. If you are starting a solo operation, describe any relevant experience or expertise that you have that will help you to succeed. 

7. Create a marketing plan 

Your marketing plan should outline how you intend to generate awareness for your product or service and attract customers. Include information on what channels you will use (e.g., social media, paid advertising, PR), what message you want to communicate, and what tactics you will use to reach your target market . . 

8. Set milestones and timelines 

Once you have all of the above information compiled, you can start setting milestones for each goal with corresponding timelines. Doing this will help ensure that you stay on track and hit all fo your objectives.  Scheduling regular check-ins with yourself or with a larger group will also help keep everyone accountable and on track.

Creating a business plan may seem like a lot of work but fully understanding your business, the needs of the marketplace, and having goals, milestones, and timetables in place is critical for any small business wanting to experience their definition of success. Don’t put off writing a business plan another day -get started today!

The application process

The third step is to complete the application form.

Be sure to read the instructions carefully and answer all of the questions accurately. Incomplete applications will not be processed and this is often one of the top mistakes that small business owners make – not completing the application in full; not reading the material correctly, or not providing the required documentation as mentioned above (or as per application requirements).

Application Submission

The fourth step is to submit your application. You can submit your application online, by mail, or in person. Keep in mind that each funding agency may have a different method of submission, so it is always a good idea to read up on the program that you are considering applying to.

If you are accepted for a grant, or any type of funding, the fifth step is to sign a grant agreement and return it to the agency. This will outline the terms and conditions of receiving the grant money.

The final step is to receive your grant funding and put it to good use!

Follow the terms of your grant agreement and make sure you use the money to benefit your business. Ensure you don’t use the funds for anything but what you initially agreed to – otherwise the funds can be taken back.

Applying for a government grant can be a great way to get financial assistance for your business. By following the steps outlined above, you can increase your chances of success.

Now that you understand the process of applying for an Ontario government grant, it’s time to start your search!

Check out the Funding Database for a list of current grant programs in Ontario as well as those federally available across Canada.

The benefits of receiving an Ontario government grant
Funding

The benefits of receiving an Ontario government grant

The Ontario government offers a variety of grants to businesses in the province. These grants can help you with start-up costs, expansions, marketing, and more. In this blog post, we’ll take a look at some of the benefits of receiving an Ontario government grant.

While the benefits of government grants in general vary from business to business, the overall benefits to a small business include:

1. Grants can help you with start-up costs.  

2. Grants can help you with expansions. 

3. Grants can help you with marketing initiatives. 

4. Grants can help you with hiring initiatives. 

5. Grants can help you with research and development initiatives. 

6. Grants are available to a wide range of businesses in Ontario. 

7. Grant money does not have to be repaid. 

8. Grant applications are reviewed by knowledgeable staff who are familiar with your industry. 

9. Grant decisions are made quickly so you can get started on your project as soon as possible. 

10. There is a wide range of grant programs offered by the Ontario government to meet the needs of businesses in the province. 

11. Grant recipients must comply with certain conditions in order to receive funding, such as maintaining records and reporting requirements. 

12. The Ontario government offers both repayable and non-repayable grants to businesses in the province. 

13. Repayable grants must be repaid if certain conditions are not met, such as job creation or investment targets being met within a certain timeframe . Non-repayable grants do not have to be repaid regardless of whether or not the conditions are met . 

The Ontario government offers a variety of grants to businesses in the province that can help with start-up costs, expansions, marketing, and more . 

Applying for a grant is easy and decisions are made quickly so you can get started on your project as soon as possible. 

There is a wide range of grant programs offered by the Ontario government to meet the needs of businesses in the province. 

To learn more about the benefits of receiving an Ontario government grant , be sure to use tools such as the Funding Database to locate all available grants, loans and funding options in Ontario and across Canada.

10 ways to qualify for Ontario small business funding
Funding

10 ways to qualify for Ontario small business funding

Small businesses are the backbone of the Ontario economy, and qualifying for government funding can give them the boost they need to get started or expand. Here are 10 ways to qualify for Ontario small business funding.

1. Get a business license or permit: You need to have a business license or permit to operate in the province of Ontario. Check with your local city or town hall to see what’s required.

2. Meet health and safety requirements: Your business must meet all provincial health and safety standards. Visit the Ministry of Labour website for more information.

3. Be a Canadian citizen or permanent resident: You must be a Canadian citizen or permanent resident to qualify for most government funding programs.

4. Have a valid Social Insurance Number (SIN): You need a SIN to apply for any government funding program.

5. Register your business: You must register your business with the Ontario Government before you can apply for any funding. You can do this online or in person at a ServiceOntario centre.

6. Have a business plan: Most government funding programs require you to have a business plan. This document will outline your business goals, strategies and financial projections.

Tools such as the Business Plan Builder can be of real help when creating a professional business plan that funding agencies across Ontario and Canada want to see.

7. Be in good standing with the government: Your business must be in good standing with all levels of government to qualify for funding. This includes having no outstanding taxes or debts owed to any level of government.

8. Meet sector-specific requirements: Some funding programs are specific to certain sectors, such as agriculture or tech. Make sure you meet any sector-specific requirements before applying.

9. Have a minimum level of activity: Most government funding programs require you to have a minimum level of activity, such as sales or employees. This helps ensure that the funding is going to businesses that are actively growing and creating jobs.

10. Meet any other eligibility requirements: Each government funding program has its own unique eligibility requirements. Make sure you understand all the requirements before applying.

Applying for government funding can be a complex process, but it’s worth it if you’re able to get the funding your business needs. Follow these steps and you’ll be on your way to qualifying for Ontario small business funding.

There are hundreds of available government grants, government loans and tax breaks in Ontario and across Canada that your small business may be eligible for. Be sure to review the Funding Database to access all available Ontario funding options.

Government funding is a valuable resource for small businesses in Ontario. In order to qualify, you must meet certain eligibility requirements, which can be daunting. However, by following the tips we’ve provided, you’ll increase your chances of securing the government funding your business needs.

Ontario government loans vs bank loans
Funding

Ontario government loans versus small business bank loans

As a small business in Ontario, having the right amount of capital can mean the difference between success and failure of your business.

In most cases, small business owners borrow money in order to use it towards the expenses and the various costs of starting up. This is a common practice by many entrepreneurs, using the borrowed money to grow and succeed with business.

As long as you are borrowing smart you have nothing to worry about.

While there are many different ways you can borrow money, today we’re going to be talking about borrowing money from the Ontario government, or the federal government of Canada, in comparison to borrowing money from a traditional bank in the form of a small business bank loan.

Money is money, but what may impact your small business are the conditions that are placed on the borrowed money. Knowing more about these conditions is what’s crucial to understanding and optimizing these funds.

Government loans for small business owners in Ontario

The Ontario government, along with the federal government of Canada provides government loans as well as many other different types of funding programs which small business owners may benefit from.

This money is given to business owners across Ontario in order to help boost the provincial economy through creation of jobs and taxes.

There are different types of government loans that you should be made aware of:

● Guaranteed government loans
● Low interest government loan
● No interest government loans
● Conditionally repayable government loans

Each type of government loan being provided may have its own benefits.

The guaranteed government loans help you by ensuring that you have a co-signer. The co-signer in this case is the Ontario government. So if things don’t go as planned, you’re not on the hook for the full borrowed amount. Instead the funding agency helps cover a percentage of the fund. This way both of you share the risk.

Low interest and no interest loans offered by the Ontario government are very helpful because they often have better terms than any traditional bank loan. Most of the terms through these government funding agencies are negotiable. Allowing you to walk away with better options than you would with a traditional bank loan.

The conditionally repayable loans are also an excellent source of funding for your small. The conditions may vary from business to business and are often negotiable in order to have the best chances of success for you as a business owner. Some may have conditions such as not having to make a payment until you hit success and profit, or not having to pay interest on any amount borrowed for 12 months; or making a
payment based on your profits each month rather than a interest rate based repayment.

The government loans that are provided to small business owners across Ontario are crucial in order
to help cover various costs. These costs can range from the initial start up costs, to the month to month operational cost and expenses.

To be eligible for a government loan, a business plan is one of the first steps that you should spend time on. Your business plan should be very clear and explain your business growth, provide a clear breakdown of your funding needs and how you plan on using the borrowed money, as well show potential in terms of your financials and show if all is to go as well as plan.

This business plan will be the document that you use to apply for government funding and loan programs.

Traditional small business bank loans

A bank loan is simply a bank loan.

Often people think that a bank loan is the safest option because it’s option because it’s being provided to you through the bank that you regularly visit and do it your personal banking with.

It’s easy.

Visit your bank, ask to apply for a loan, fill out a form, sit back and wait for approval.

While it seems easy, it’s often a pitfall, or a mistake that many small business owners make by choosing to go with the bank loan before considering other options.

Why is it a pitfall you ask?

Bank loans often have high interest rates. The terms are often set in stone and not very negotiable. Banks don’t really care much about your business, and only care about the profits they will make off of your borrowing. If you are a startup business, borrowing money from the bank to start up is extremely difficult.

If you don’t have business credit, and you don’t have past history due to simply being a startup, the conditions placed on your account and you’re borrowing me borrowing maybe even worse.

While you may apply for a bank loan on the personal level, your personal credit may be impacted and you may be on the hook for the 100% of the borrowed money. This may also impact your personal credit if things are to go bad with the business.

While you may be able to use personal assets such as the value of your vehicle, or your home as collateral towards the loan, it is not always recommended.

Generally speaking, government loans offer better terms, better conditions and are optimized more for helping a small business owner start up or expand their business than a traditional small business bank loan.

Keep in mind that a traditional bank loan has a purpose. This purpose is to give you the money so you can pay it back with interest. While the same may be true for a government funding program, more resources are put to wards a small business owner to succeed as the government has a lot more to gain than just the interest on your payments.

If you succeed as a small business owner you are paying taxes, this creates a life long cycle of returns for the government.

No matter the type of government loan or business loan you opt for, always do the necessary research and determining what it is that your business can actually afford to pay each month if necessary to cover the cost of these loans.

Are there government grants and loans in Ontario
Funding

Are there government grants and loans for small businesses in Ontario

A very common question the many entrepreneurs across Ontario regularly ask, “are there
government grants or government loans for small businesses in Ontario?”

The quick and simple answer is yes.

The Ontario government has hundreds of government funding programs provided through local, provincial and the federal government.

These funding programs come in the form of government grants, government loans, tax breaks and credits.

These programs are a set in place to help small business owners achieve success and cover the various costs that they may have. The uncertainty around the government funding programs availability availability comes from a basic misconception.

Many business owners who contact the government or the various levels of the Canadian or
Ontario provincial government and ask if there is funding for them and are denied may assume that there is no funding in the 1st place.

This type of information quickly spreads and the misconception of the availability of government grants and loans, begins.

While not every single business owner or entrepreneur is eligible for government grants and
loan, hundreds of grants and potentially helpful programs exist.

What do these government funny programs cover?

When looking for government funding be it a grant or a government loan, the availability of
funding depends on what it is that you need to cover in terms of your expenses. It also considers your location, as well the industry that your businesses in.

Not all government funding programs cover all specific.

For example, if you are a farmer from Milton, Ontario and you’re looking for funding to improve the equipment on your farm, it is often best to look at programs the cover farmlands, equipment purchase, growth – or to focus towards the agriculture industry specifically.

Looking at anything else whether it’s not specific enough or too specific, you may be denied.

A tip: When you are asking for government funding in the form of a government grant or a
government loan, be sure that your funding needs are broken down into individual and specific needs or requirements within your business plan. Doing so will ensure that you and your business can apply to multiple programs from the government of Ontario that may cover those specific needs individually. This will greatly increase the chances of success.

When it comes to government funding programs, typically small business owners ask to have
their startup fees covered, help with the hiring or wage support, to cover the cost of training employees, marketing, as well as the costs of purchasing the tools, equipment, supplies and inventory, or renovations to the business promises.

The more you can break down your specific funding needs the more options you potentially
may unlock.

The Ontario government has programs to cover nearly all start up expenses.

Take the time and review all options available in the funding database here at Ontario Startups to ensure that you don’t miss any of these helpful options.

Who can apply for Ontario government grants alone?

While not every single business owner is eligible for a government grant or a government loan, if you are a Ontario resident or considering moving to the province of Ontario, are starting a small business or already have one, you may be potentially eligible for a grant or a loan program.

Every government funding program will have a different set of rules and application criteria that the applicant must follow and must meet in order to be eligible.

Be sure to review these before you submit your applications.

If you are denied funding for any reason, be sure to check our reason and understand why you were declined in the first place.

Some of the more common reasons for application denial include:


● Applying to the wrong funding program
● Not being eligible to the criteria asked for
● Not applying with the proper business plan
● Submitting your applications incorrectly
● Asking for way too much in terms of funding
● Applying past the deadline
● Your personal financial situation may impact your application and success rate

If you are denied funding, be sure to speak to an Ontario Startups expert in order to get a better understanding of why you were denied and what options you have in terms of applying for other programs in the future.

Tip #2. Nearly 80% of funding applications are denied due to simple mistakes on the applications themselves. To avoid application mistakes always have an expert review your applications. As it can take weeks at a time to hear back from a funding agency, you cannot afford the time delay if you are denied, so always, always ask for help.

The Ontario government currently has over 500 different government grant and government
loan programs for entrepreneurs to apply to. These programs are available and ready for the
taking. If you are unsure if you are eligible for any of these funding programs rams start by creating a business plan.

Your business plan will be the 1st step you take towards figuring out what you require in terms of funding. Once your business plan is ready, your funding needs are clearly laid out, use the funding database provided here at Ontario Startups to see all matching options based on your
funding requirements.

Daycare Startup Funding Ontario
Funding

$73,500 Ontario government funding support for daycare start up.

Thousands of business owners across Ontario and throughout Canada get funding from the government to assist with their small business startups and expansion costs.

While there are still many unknowns when it comes to the government funding within the general public, the small business owners who do apply and take advantage of the available funding, can greatly benefit.

The Ontario government has various funding programs including government grants, government loans, tax brakes and tax credits that are made available to help small business owners succeed.

The below success story information comes from an Ontario based day care start up center. A business owner who previously considered government funding could be non existent.

Please review the Q and A, the back-and-forth with an Ontario startups expert regarding the process that the business owner took to obtain $73, 000 through the Ontario government to assist with their small business startup.

Where is your small business located?

Our business is in Milton Ontario.

Briefly explain your business and what you do?

We are a home base day care provider. Our daycare spans across 2 homes that are now connected in order to give are kids a greater space to learn and play. We provide at home day care services, to individuals age 1 to 11, mainly focusing focusing on those living in Milton and the Halton area.

When did you start the business?

The daycare was something that we always wanted to do. The idea probably started about 10 years ago but due to the insufficient funds we have to take some time to properly plan it and make all the zoning permits and everything to ensure that we can actually do something about this.

We really got into it after the pandemic started as we realized that there’s a lot of things going on out there in the world that a lot of people need to take care of providers and we wanted to be a part of it and to help these kids and parents. So we started really digging deep and trying to start small and see where it takes us our business started late 2020.

What did you need to make this happen?

We already owned the 2 homes but we needed to cover some of the renovation costs to connect the 2 homes and obviously to purchase the needed supplies and the equipment that we’re gonna need for actually launching the day care and getting ready for the children to come in place and be safe.

We had estimated costs between $50,000 a $100,000. Both me and my husband were laid off due to the pandemic, and getting these funds in order was a little bit difficult at the time, which is also when we started looking at government funding options.

What did you think about government funding prior to this?

To be honest I didn’t think it was possible. A lot of people we’re talking about the CERB, and other Covid related government funding programs, and I seen what all the businesses are going through so I didn’t think much of it. Didn’t believe government funding exists aside from what was being provided to everybody at this time. I didn’t think that somebody like me would be able to get money to start a daycare.

How did you hear about Ontario Startups?
We went to the bank to ask for a loan, and they said because we are not working we’re not getting any money from them. This was pretty disappointing to hear because both me and my husband had great jobs great credit and everything was going fine before the pandemic hit. The banks were no use at all. We looked online trying to figure out how to start a business without these costs involved and we continuously kept seeing Ontario Startups.

We noticed on the website that they dealt with daycares and other startups in the past so we just decided to contact.

How did Ontario Startups help you?

With Ontario Startups we worked on our business plan. By doing this it seemed to get us a bit more excited about what we wanted to do and it almost made it real. Working with Ontario Startups pushed us into thinking more about the business and about the small details and all the costs that we could think of. This was one of the 1st steps. When this was done our expert actually helped us find funding. He went beyond what was part of what they do I believe and he kept giving me ideas and sharing his past experience in dealing with other day cares. I think because the expert was actually a parent, he understood exactly where we’re coming from and wanted to offer that extra attention to us.

How much did you apply for in terms of funding for your day care?

Ontario Startups provided us with 3 programs that we could apply for there were non bank programs.

Under their recommendation we had to break down the expenses that we were applying for because one of the programs only funded renovations innovations in a small business. To ensure that we could do what we wanted to do we needed about $25,000. That is what we applied for within this program. The other $53, 000 we applied through 2 other programs that were recommended to us. One program denied our funding request due to not having a job and not being able to show incoming revenue as of yet as we’re a startup.

The 3rd program we asked for $35,000 to cover the cost of equipment purchase and just to get the business ready, however our expert recommended due to the denial of the initial program that we should be asking for more. We changed our ask to $60,000. We were approved for $53,000. Altogether we ask for $85,000 and we walked away with $73,000 which has been more than enough to ensure that we get up and running.

How difficult was the application process?

Applications were a nightmare. If I was doing this on my own I wouldn’t have done it. Luckily I had
the team there by my side helping me with each step and away. I was pretty annoying about it, asking a million questions but they helped and they got me the funds.

How did the money you got help you start your business?

The money made us start the business. It ensured that we have everything that we needed so we can actually launch and start promoting our business. After receiving the money and took 6 months to make sure that all the renovations were done and though we had everything in place before we opened our doors.

How is the business going now?

We are just ending our 1st year. We are fully staffed and we have plenty of kids and a great program in place the parents seem to love. We are in a great location in Milton and I have to say our day care business is booming.

Your comments or advice for others looking for government funding or starting a small business in Ontario:

It’s never easy to start a business. It’s never easy to stop working have no income coming in and think how am I going to start something that’s not gonna make me money for a while. Definitely scary. If it’s something that you dream about and something that you want to do no reason to delay. We did this for 10 years and we kept the delaying for no reason. I just wonder where would we be today if we started 10 years ago. Government funding exists, clearly, and we were able to benefit from it and if you have a good business idea and you have the team such as the Ontario Startups behind you, no reason why not try
applying for funding. Stay away from banks.

Typical government funding amounts
Funding

Typical government funding amount for a small business

When you are starting a small business in Ontario, having the capital that you need can mean the difference between success and failure.

The Ontario government provides funding programs to help cover your startup costs.

While not everybody is eligible to apply to these government funding programs, those that are can benefit from various program types.

The Ontario government funding program types include government grants, government loans, tax breaks and tax credits.

To apply to any government funding program one of the first things that you have to do for your own small business is complete a business plan.

Your business plan should be detailed enough that a funding agency should be able to understand your business model, what you want to accomplish, how much funding you need, and you must be able to show the potential, financially speaking which your business has.

Once your business plan is all sorted out, finding these government grant and government loan programs is the next step.

The Ontario government has hundreds of government funding programs available. Across Ontario alone these funding programs come from local governments, the Ontario provincial government and can also come through the federal government of Canada.

All government funding programs have their own criteria that you must meet in ordered to be an eligible applicant.

Most government funding agencies, they share a few similarities in terms of the factors that are looked at in order to provide you the potential funding.

Factors include your location, your industry and the amount of funding that you need and how you plan on spending these funds.

These key factors will help determine how much your eligible for.

What are the typical government funding amounts?

In Ontario, there are various government funding agencies. Each of these agencies offer different funding options.

Options depend on what your small business may require.

There is no typical funding amount that you can base your funding search on. Since every government program is different, every business owner’s expenses are different as well. The only way to determine how much you may be eligible for is to try and collect as much information as possible about the program itself.

Determine what the government funding program has in terms of maximum potential, or minimal requirement.

Some government funding programs may fund small business owners in the amount of $500,000 or more. While some may have a budget allowing them only to fund up to $5,000 per applicant.

To determine the funding availability, you do have to research the program you are applying for.

Knowing the specifics of how much they have available and how much they’re willing to fund at once is a good starting point.

A helpful tactic to determine how much you may be eligible for is to review previous success stories or successful applicant who have had a chance to deal with this program.

Since every business’s needs are different, don’t assume that you can get the same or even close to what somebody else has obtained. Instead focus on explaining your funding needs based on what it is that you actually need.

If you have two of the same type of businesses, in the same city and within the same industry, both needing money to purchase equipment, the chances are that they both may require a different funding amount – so never focus your needs based on another business, but your own.

There is no right or wrong answer in terms of how much funding you need.

The best strategy is to ensure that you break down your funding needs that is specifics of what you actually need money for within the first 3 to 6 months of operation.

These are the must have funding requirements in order for you to succeed.

If you have certain things that you would like to have funding for, but it’s not necessary within this
time frame, it is better postponing that expense until the next funding round or until your business is operational.

The less you ask for, the greater the chance of you obtaining that funds.

Some recent is some recent funding asks across Ontario:

● 23,000 for cleaning company
● 71,000 for farm
● 19,800 for app developer
● 27,730 for car dealership
● 77,500 for daycare
● $9500 for bakery shop at home
● 67,350 for medical device manufacturer
● $45000 for construction company
● 125,000 for education service
● $48,000 for restaurant

To see what Ontario government funding programs your small business may be eligible for and to have a better understanding of how much you should be asking for, contact an Ontario Startups expert.

1 2 3 4
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
ACCESS NOW