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Government Grants In Ontario
Funding

How to Apply for Government Grants in Ontario

It can be difficult to apply for government grants if you’ve never done it before.

However, there is no cause for alarm!

Here, you’ll find a step-by-step approach to securing the capital your company need for success.

To begin, you must determine which federal funding initiatives you qualify for.

If you own a business in Ontario, you may qualify for one of the many grants and programs offered by the provincial government.

Spend some time researching the many business grants and programs offered by the provincial government of Ontario to determine which ones are the greatest fit for your company’s needs.

Examples of popular sources of financing are:

Government Grants:

Money from the government is given to private companies, nonprofits, and individuals to assist them meet a specific need.

Research and development, extending into new markets, and product creation are all examples of such aims.

Applicants for government grants are usually evaluated on the basis of their demonstrated merit, or ability to benefit from the grant money.

The various grant categories are as follows:

Non repayable government grants are one of the most common types of grants available.

These grants are given to businesses or individuals without the expectation of repayment, meaning that you don’t have to pay the money back once you receive it.

There are a few different types of non repayable government grants, including:

Grants for small businesses:

Government grants are available to help new and existing small enterprises get off the ground.
These funds can be put toward a number of different endeavours, including the acquisition of new tools or the hire of additional staff.

Grants for research and development: Grants for research and development are offered to businesses that are looking to conduct innovative research and develop new products or services.

This type of grant can be used to cover the costs of conducting research, such as hiring consultants or purchasing lab equipment.

Grants for women entrepreneurs: Women business owners can apply for grants to help them get started or expand their businesses. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

Grants for Indigenous entrepreneurs: Natives, Inuit, and Métis business owners who are just getting started or looking to expand their operations can apply for one of many available grants for Indigenous entrepreneurs. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

In addition to these, there are startup grants, business expansion grants and skills training grants.

One time and renewable government grants are another type of grant that is available.

One time grants are typically awarded for a specific project or purpose, and are not renewable once they have been used up.

On the other hand, renewable grants are ongoing and can be used for a variety of purposes over an extended period of time.

The most common type of renewable grant is a operating grant, which is given to businesses on an annual basis to help cover the costs of running their business.

Partial contribution grants are another type of grant that is available.

Partial contribution grants are typically given to businesses or individuals who are unable to fully cover the costs of a project on their own.

The Ontario government will partially fund the project, and the business or individual will be responsible for covering the rest of the costs.

Matching grants are another type of grant that is available.

Matching grants are typically given to businesses or individuals who are able to raise a certain amount of money on their own.

The Ontario government will then match the funds that have been raised, and the business or individual will be responsible for covering the rest of the costs.

Government Loans

Loans from the government are essentially loans from the government to private companies or people.

These loans are preferred by businesses because their interest rates are cheaper than those offered by banks.

Several distinct varieties of federal loans exist, including:

Loans for small businesses: these financing options exist to help established enterprises with limited resources grow. New machinery or personnel are only two examples of how these loans might be put to good use.

Startup loans: Lending assistance is available for new firms in the form of startup loans.
Loans of this type might be put for things like business permits and first advertising costs.

Business expansion loans: Loans for business expansion are available for companies who want to grow their operations. These loans can be used to pay for everything from the lease on a larger office to the salaries of new employees.

Skills training loans: Skills training loans are offered to businesses that are looking to provide training for their employees. These loans can be used to cover the costs of training, such as hiring instructors or purchasing educational materials.

In addition to these, there are also loans for specific business sectors, such as agriculture, tourism, and manufacturing.

Remember that government loans can often come in the form of no interest, or low-interest options, as well as government-guaranteed loans.

Government loan programs typically have more flexible eligibility requirements than traditional bank loans, making them a more accessible option for businesses.

The next step

After determining which government funding options are right for, be it a government grant or a government loan it’s time to start preparing your application.

The most important part of your application will be your business plan.

This is your opportunity to sell the government on why your business is worth investing in. Make sure to include detailed information on your business model, target market, and financial projections. If you have any existing customers or clients, be sure to mention them as well!

A good tool to use to develop your business plan is the business plan builder tool. It is created to guide you step by step based on what Ontario government funding agencies want to see.

Once you’ve assembled all of the required documentation, it’s time to submit your application.

The best way to do this is online, through the government’s official website. You’ll need to create an account and fill out all of the necessary information before you can submit your application.

As each funding program/applicaton may have a different application method – be sure to work with an expert to get help with the process.

Applying for government grants can seem like a daunting task, but it doesn’t have to be! By following this simple guide, you’ll be well on your way to getting the funding your business needs to grow and succeed. good luck!

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.

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.

https://www.ontariostartups.org/purchase/
Funding

But I Only Want A Government Grant

As a small business getting started it’s tough. Money is needed to cover the various start-up expenses you may have.

A government grant can help a lot.

Generally speaking, government grants in the form of free money will ensure that you can start your business, fund the various costs you have, and succeed without the worry of having to pay that money back.

In other words, congratulations you won the lottery.

Unfortunately, this is now how it all works.

Government grants exist, however they’re handed out to those individuals and business owners who need them the most. It’s not to say that you don’t need it but specific businesses requiring the funding for specific needs are more likely to obtain a non repayable government grant.

So as much as you need just a government grant and no other type of funding, it doesn’t mean that this is what you will be eligible for.

There are a number of factors to consider when asking for a government grant.

These factors include the pop 5 such as

  •  The location of your business
  •  The specific industry your business is in
  •  The funding requirements that you have
  •  Your business plan
  •  Time of the year and deadlines

The above factors play a role in determining your eligibility for a Government Grant. Additional factors may be considered as well as each government funding program has it’s own criteria as well.

A government grant, being considered as a non repayable form of funding, it is always the top pick for most businesses. It’s money you don’t have to pay back.

However, the government agencies to provide the funding think of it a bit differently.

The agencies that provide the government grants focus on specific needs.

Usually, a government grant will be provided to those who help the business achieve success through a method of ensuring a wider benefit within the community.

Things like hiring employees, providing training, going green, and similar will more benefit from a government grant than those whose focus is to purchase equipment, pay for marketing, or spend the money on supplies and inventory.

Remember that the key focus of any government grant agency it’s not to just hand out the money, but to meet the own objectives that they want to accomplish with the money they have set in place.

These objectives must be met. So, when you are applying for funding, you should always ensure that you match the criteria, otherwise, don’t apply.

Depending on your specific funding needs, it might be a good idea to break down the amount of funding that you need into the specific requirements. Doing this will help determine if you’re eligible for a government grant only or multiple types of programs including those of government loans, tax breaks or tax credits.

Speaking with an Ontario Startups expert will also help you determine what you’re more likely to obtain in the form of funding from the various levels of government.

Is there a way that you can only obtain a grant for your business?

Many business owners only apply for a government grant.

Some are successful, some are not. The success of your applications depends on many factors.

If you are only in the market for a grant, a regular search to access all available funding is often recommended. As funding programs change regularly, keeping a lookout for the top grant programs as they come out is always key.

While it is recommended to apply to multiple sources and maximize your potential, you know your business best and you know exactly what you need money for. Focus on that which requires the most.

Keep in mind however that you are most likely to obtain funding for your business when your funding needs are broken down properly and when you consider all types of funding programs and you utilize the funds only for the requirements that you have in mind within the first year of business.

If you need guidance or wish to access all available funding options for your specific business the Ontario Startups funding database has all of the government grants and other forms of funding options listed.

Government Grants vs Government Loans in Ontario
Funding

The difference between government grants and government loans

As you start a small business in Ontario, government funding options may be considered to help you get the capital required to start up.

The Ontario government has a number of different funding programs to help with this.

Knowing which programs are best suited for your type of business and the various funding areas funding needs can help you succeed

So what are the various government funding program types?

The most common include government grants, government loans, and tax breaks or also refer to as tax credits.

In this article, we’re going to be looking at the difference between government grants and government loans.

Government Grants versus Government Loans

Both government grants and government loans are provided by the various levels of the Canadian government. The funds can come from your local government, the provincial Ontario government, and via the federal government of Canada.

Wherever the money comes from, funds can be used to help your small business advance and pay for the various expenses you may have.

Government Grants

There are multiple types of government grants.

Not all government grants are made equal. But all government grants are non repayable.

There are a few different types of government grants including those of:

  • Non repayable government grants
  • One time and Renewable Grant
  • Partial contributions

 While other government grants exist, these are the top grant types.

Non repayable government grants

Just as they are called these types of government programs are non repayable. This means that the money that you are provided with to fund whatever requirement you have for your small business, the money does not need to go back.

The money is yours to do with what you wish as long as it covers the initial application requirements you applied for.

Failing to apply the funds towards a requirement that you initially stated could however result in a penalty and require you to pay the money back.

One time and renewable grants

The one time grants are usually funding programs that are created to fund at 1-time purchase or payment. These programs aren’t placed to get you a kick start with your business.

Generally, the one-time grant payments are made to help you hire staff, provide training, go green, and so on.

The renewable aspect comes in if you’re a larger company and you need to have these types of expenses ongoing, and require support.

Partial contributions

Another form of government grant that requires no repayment, however, most business owners try to shy away from this type of funding.

The partial contribution part requires that you as the business owner put in a portion of the funding towards your own business as well.

This way both you and the government agency providing you the funds share the same risk.

The percentage of the partial contribution may vary from program to program, business to business to business, and may have additional terms to meet in order to be eligible.

A government grant is always preferred. It is free money that you can use the start and boost your small business in Ontario. While not everybody can qualify for a government grant if you do, you are in luck.

Access the Ontario small business start-up platform and the funding database to see all available government grants as of today.

Government loans

If by chance you’re not eligible for any government grants,  government loans aren’t just as good if you need the funding.

The majority of government loans are far better than any private or bank loans. A government loan means money in your pocket to cover the needed expenses of your small business.

There are different types of government loans to consider,  And these include:

  •  Low interest loans
  •  No interest loans
  •  Conditionally repayable loans
  •  Government guaranteed loans

In a comparison of government grants and government loans, the loans are often much easier to obtain.

They have more options for you to consider and often have less strict requirements. Government loans can also be used for more types of expenses.

Low interest and no interest loans

These types of loans are provided by the government and also come from various levels of the government, including the local, provincial and federal governments of Canada.

While these are funds you have to pay back because they are still considered a loan, there are options that have very low-interest rates that make it easy to borrow. There are also programs that have no interest tied to the amount at all.

Conditionally repayable loans

Some of the best types of government loans are conditionally repayable loans.

While it is money that you have to pay back, terms are often negotiated, and conditions are placed to help you as a small business borrow smart.

Some of the conditions may vary however, conditions such as not having to repay any amount of funding until you are successful and making money, is potential. Other conditions may be, only having to repay after a certain time such as 5 years later.

Conditional loans are very much recommended and comparison to any other types of loans available.

Government guaranteed loans

Often government-guaranteed loans are confused with guaranteed loans. What that means is that most people will consider that they are instantly approved and guaranteed the funding no matter what –  however, that is not the case.

Guaranteed government loans mean that the government will be the co-signer on your loan. 

So if things go south with the business you are on the hook for a percentage, while the government covers the rest.

In certain cases, the government can cover as much as 85% of the loan.

These types of loans are preferred as it gives you a  protection layer and can ensure that if things go bad you have some security.

To see all available government loans for your Ontario small business, Try using the funding database provided by Ontario Startups.

As you can see there are different types of government grants and different types of government loans. Each program branches out into more, and the likeliness of funding depends on many factors but now you are better educated on the different types of government loans and the different types of government grants.

If you need guidance and assistance in determining what grandson loans are available for your business, But what you should consider 1st, speak to one Ontario Startups expert today.

Government Grants for a Small Business in Ontario
Funding

Government Grants for a Small Business in Ontario

When deciding to start a small business in Ontario one of the lacking components of most business owners is the limited amount of funding or capital that they have available.

Funding can often be the reason why a business is successful, or why a business fails.

During the initial months of starting a small business as a business owner, you will have numerous expenses to cover.

These expenses include your regular startup costs, such as; purchasing the needed tools, the equipment, paying staff wages, covering your marketing expenses, purchasing inventory and supplies, your rent, and much more.

Unless you are using your personal funds, or savings for this, in most cases you will have to borrow.

Borrowing money is no easy task.

Sure you can borrow from your family and friends but to get some real money going you’re looking at bank loans, lines of credit, utilizing your credit cards, working with a business partner, using an investor, or accessing government funding options.

Government funding options are some of the best forms of funding that you can obtain.

While they may not be the easiest options to find, once you do, the chances that you’re able to fund each of your expenses are far greater than those of other options.

The various government funding options available include government grants, government loans, tax breaks, or credits.

The best type of program available would be a government grant. Government grants are considered non-repayable which means you can use the funds as you wish for the various needs that you initially applied for and these funds don’t have to pay back.

This way, your business has a chance of succeeding, and the government benefits as well.

Small business government grants are available in Ontario, you just have to find them.

Finding the available small business government grants is a challenge.

As the various government grants come from a number of agencies including local agencies, provincial agencies as well as federal government agencies, they can be difficult to locate.

With access to a platform such as the Funding Database here at Ontario Startups you would have access to all available government grant options as well as other forms of funding.

This will definitely help with the search process, to save you some time, frustration, and obviously allow you a focus on your business.

Government grants are considered the best funding options to apply for.

While government grants don’t always cover all aspects of your expenses, they can be used for the most beneficial ones. This is something you have to determine.

The various government agencies will fund small business owners looking to hire staff, provide training, improve their manufacturing, to go green, and much more.

How does the government make money on government grants

The government provides government grants as a way to boost the economy, create jobs and allow small businesses to succeed.

The government makes money on taxes.

The more success that you see, the more likely the government is to collect more taxes.

A win-win situation for both parties.

What small business grants are available in Ontario?

Government grant programs along with other forms of funding constantly change. Sometimes by the day.

Accessing the Funding Database here at Ontario Startups will allow you access to all options that are available. This way you can access all grants, all loans, and all tax programs with the click of a button.

The government grant programs that are easiest to access are the ones related to hiring, training, going green, and things that benefit more than just your business but the economy or the community as a whole.

What do I need to apply for a Government Grant?

To apply for a government grant in Ontario your small business will need to be registered. You will be required to have a formal business plan and 3 year financial projections. This is all that Ontario Startups can help you with and guide you step-by-step as you work with an expert.

What are the types of government grants?

The term government grants often simply means, free money.

While it is free money, there is a number of different types of government grants as well.

These different types of government grants include:

  • Non repayable government grants
  • Partial contributions
  • One time and renewable

As a small business, when applying for a government grant in Ontario, your goal should be to obtain one of the non repayable government grants.

However in most cases, you don’t really have a choice but you have to rely on what is available at the time of your search, your application, your industry, and your business location.

This may mean that you have to pick and go with what is available rather than what’s best for you.

A non repayable government grant is the best option, however not the only option to consider.

The non repayable government grants are exactly what they’re called, non repayable.

This means that once you apply for a non repayable government grant to cover a specific funding requirement and you are approved, the money that you are provided with does not have to be paid back.

On the other hand, you have partial contribution government grants. Another very common government grant program type.

While this is still money that you don’t have to pay back, in order to get the program or get approved, you have to have money of your own to invest.

An example of how the program works:

If you are looking for a grant of $50000, the partial contribution can approve a certain amount, as long as you have the other amount to put in yourself. As an example, the government can give you $35,000 dollars as long as you can put in the other $15, 000. Now the risk is shared.

The 3rd type of government grant is the one time or also call the renewable grant. This is a very specific program type that allows you to get funded once and keep going back for more if needed.

This type of government funding program is often used for hiring, training, renovations, and other activities that happen more than once in the lifespan of a business.

The money you take on is also considered non repayable in most cases.

If possible and if you qualify to take on a government grant, no matter the type will always be beneficial to your business. It is money that you don’t have to pay back and money that you can use to build your business up.

If you are not eligible for any government grant programs in Ontario for whatever reason, don’t give up.

Government grants are constantly announced, The programs are regularly changing and in order for you to not miss any options, it’s a good idea the keep regular searches going.

The OntarioStartups Funding Database can assist with this and keep you on track with all available government finding options including those government grants.

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