There are hundreds of Canadian government grants available for small business owners and startup entrepreneurs. These funding programs are made to save you money, lower your startup costs and to help you grow your small business.
With hundreds of funding programs available from the Ontario government, as a small business owner you may be able to obtain these grants for various purposes such as hiring and training staff, to purchase land and equipment, for marketing and advertising and much more.
The challenge however is that the government grant programs are complex, with numerous processes, steps and each with its own set of requirements and criteria that have to be met before you apply. Not to mention that the Ontario government funding programs come from multiple sources (funding agencies), meaning you have to know the agency before you apply to the program.
The reason why these funding programs exist to small business owners in Ontario is to ensure that the growth of the economy continues. By creating jobs, small businesses are able to improve the economy thus the provincial government is able to support its entrepreneurs through funding.
So where do you find government grants for your small business?
In order to start your funding search, you have to ensure that you know what you are looking for. As mentioned above, even though there are hundreds of funding programs available, they all come from different funding agencies across Ontario. Some are industry specific while others are dependent on your funding needs. This is your first step to figure out.
The funding search is a difficult and time consuming process. Our Funding Database has simplified the search for you so that you may continue to work on your business while we help narrow down the funding programs that may be right for you. In fact, our Funding Database has over 800 government grant and loan programs available from the Canadian government.
If however you do have the time to research your own programs start with the ones that are in Ontario, for your industry and for your funding needs.
What are the different types of grants that are available?
Government grants vary in their types. Some funding agencies will provide a business owner with a non repayable grant meaning that it is funding dedicated to the businesses’ needs and money that does not have to be paid back. Some funding agencies will provide conditionally repayable grants, which mean that the funding provided to a business owner must be paid back but only once certain conditions have been met (this however depends on the program). There are certain funding programs that will also provide a business with a partial contribution, meaning that it is money paid to you as long as you make an equivalent contribution into your own business.
All government grants are made to help and support the every day small business entrepreneur. Be sure to look at our Funding Database to find the programs that may be right for your business.
How do I apply for a government business grant?
Every single government grant program is unique with a different set of rules and criteria that must be met before you apply. Most funding programs are created for specific reasons/purposes, so knowing these reasons/purposes is your first step.
Be sure to apply to only those programs that you clearly meet the criteria for, otherwise you will be wasting your own time as well as the funding agency’s time.
To ensure success when applying for government business grants be sure to create a professional business plan since every single government grant program will ask that you provide a business plan. Also ensure you read the program guide for that specific program you are applying to. Do you meet the criteria? If yes, apply. If no, don’t. And most importantly, be sure to apply on time.
Since many funding programs are opening and closing each week, jumping into it as soon as the program comes out is important.
If you need help figuring out which funding programs and government grant programs are right for you, do take a look at our Funding Database, with over 1,500 funding sources you will be able to search through hundreds of funding programs in minutes.
