Government grants, government loans, tax breaks, money! It’s all great stuff that the Ontario government offers to small business owners across the province. The only problem: finding it, applying for it and getting it. So let’s take a moment now and figure out how to get a small business grant together in this article to give you, as a small business owner, a better idea of how to get funding.

How To Get A Small Business Grant

Getting a small business grant is not easy, however it is not impossible either.

The act of finding a funding program that is right for your business (be it a grant, loan or any form of funding assistance from the government, is what deters a lot of people. In fact, most people simply think “I can’t get funding” or “I know I am not eligible“, and that’s that. They have given up on the funding search. However those who give it a shot and start that initial search for funding programs are often surprised to find out how many different grants, loans, tax breaks and financial assistance programs are available.

So how do you get a small business grant?

First Step of Getting a Small Business Grant

The first step of learning how to get a small business grant in Ontario for your own small business is to take some time and actually figure out what you need funding for. If it’s a small business grant you need, it is very specific – so you must know why you need a grant, versus another form of funding.

And no, needing a grant because it is non repayable is not a valid reason as to why you need a grant. If it’s the only reason, chances are you most likely will not be eligible for the funding.

Keep in mind that there is a big difference between need funding and want funding. 

So do take a moment and figure out what you need funding for. Your business plan would be able to really help you figure this out. You can get help making your business plan using the Business Plan Builder Tool.

What do you need funding for?

Things such as starting costs, expansion costs, hiring and training, purchasing of tools and equipment or supplies could be provided. In addition to that, you could get funding for your small business to conduct research and development, to improve cash flow and pay for marketing/advertising.

Once you know what you need funds for, then you move on to the next step.

What is the next step of getting a small business grant?

After you’ve created a business plan for your business and you know exactly what you need funding for, the next step of obtaining a government grant for your small business is to start your funding search.

It’s not easy, as mentioned before – but it is very possible to find programs.

There are nearly 1,000 government funding programs available from various funding agencies across Canada.

Some of these programs fund specific locations only, or specific industries or specific funding needs, and by knowing what you need funding for, you would be able to narrow down from the 1,000 programs to the ones that may be available for your location, your industry and for your specific needs.

Once you’ve narrowed down the programs that are appealing to you and your business, the next step is to ensure that you meet the requirements and eligibility criteria to apply.

Is your small business eligible for funding?

Imagine that out of 1,000 funding programs that may be available from the Ontario government, you spend all this time researching to narrow down to the ones that seem suited for your business, you fill out the applications, send them in and get a letter back stating “denied funding”. Not because your business can’t get funding but because you simply didn’t meet the criteria.

How devastating would that be?

So before you jump the gun and start filling out all of the applications for every program that you see, because you are excited about getting a small business grant, STOP.

Take a minute and ensure that you meet the program requirements.

Each funding program has its own requirements and criteria that a business owner must meet before they apply.

Read the application, fill it out in detail and ensure you supply all that is asked of you. If you need help you can always get assistance from a team of experts at OntarioStartups.org.