Funding for Small Businesses
Community Futures British Columbia — Financing programs for entrepreneurs If you live in rural British Columbia, you could get a loan of up to $150,000 to start or grow a small business. You need to:
1. Have a Viable Business Idea
2. Create a Business Plan
3. Invest some of your Money
For the Self-Employment Program, you need to be receiving Employment Insurance or to have received it within the last few years.
Canada Small Business Financing Program
This program could help you secure up to $1 million from a financial institution by sharing the risk with your lender.
The loans can be used to:
1. Purchase / improve land / property
2. Purchase leasehold improvements or improve leased property
3. Purchase new or used equipment
Eligible small businesses should have annual gross revenues of no more than $10 million.
Discuss your business needs with a financial officer at any bank, caisse populaire, or credit union in Canada.
Canada Job Grant
If you are an employer, you could get a grant to cover up to 2/3 of the costs of training for your employees. The maximum you may receive is $10,000 per grant.
Examples of eligible costs:
1. Tuition and examination fees
2. Textbooks, software and other required materials
You need to:
3. Contribute 1/3 of the costs
4. Use a third-party trainer
If you have no more than 50 employees, you could also benefit from flexible arrangements, such as the potential to count wages as part of your employer contribution.
Western Diversification Program
Not-for-profit organisations could receive funding for initiatives revolving around innovation, trade and investment, skills development and training, and the like. If your business is for-profit, you must apply through partner organisations.
Eligible organizations include:
1. Co-operatives
2. Post-secondary institutions
3. Indian bands
4. Industry associations, community and/or economic development or research organisations
Do you operate a for-profit business? Apply for financing through the Western Innovation (WINN) Initiative.
Industrial Research
Assistance Program
Your small or medium-sized business could grow stronger, faster and bigger through innovation and technology. You could receive customized technical and business advice as well as non-repayable financial contributions to help you:
1. Research, develop and commercialize new technologies
2. Accelerate the adoption and adaptation of these technologies
To qualify, your business in Canada must:
1. Be incorporated and profit-oriented
2. Have 500 or fewer full-time equivalent employees
3. Show the ability to grow and generate profits
Aboriginal Business and Entrepreneurship Development
If you are Aboriginal or have a majority-owned Aboriginal business, you can apply for up to $99,999 to help you:
1. Start or buy a business
2. Develop a business plan
3. Grow your existing business
4. Start or buy a business
5. Develop new products or processes
6. Get business advice
You do not need to pay the money back. Conditions apply.
Before applying, contact a business development officer in your region to discuss your project.
Technology Demonstration Program
You could receive funding of up to 50% of the costs of creating a next-generation manufacturing project for the aerospace, defence, space, and security industries.
Eligible costs:
1. Equipment
2. Overhead
3. Labour and materials during R&D
4. Infrastructure
Eligible applicants must:
1. Demonstrate the ability to lead a large-scale multi-member project
2. Include at least 1 SME and 1 academic institute
3. Be a for-profit corporation
4. Be an Original Equipment Manufacturer (OEM) or a Tier 1 company supplying directly to an OEM
Community Futures Self Employment Programs
If you live in BC, you can access business support and income support to help you start a business. To be eligible, you must:
1. Be on EI, or have recently made claims through EI
2. Be underemployed / unemployed
3. Be entitled to work in Canada
4. Have completed the program orientation and plan to work full-time in your business
Western Innovation Initiative
If your business operates in Western Canada, you could get a repayable contribution to commercialize a viable and innovative technology-based product, process or service. The funding supports commercialization, including:
1. Technology development
2. Pilot projects
3. Validation of market potential
4. Related marketing, human resources, productivity, and process or quality improvement activities
Your business must be incorporated, have fewer than 500 employees, have operated for at least one year, and own IP rights. Other conditions apply.
Applications will be accepted twice a year through a call for proposals process.
Agri – Innovation Program
If you have an agri-business and are working on innovative projects, you can apply for assistance. Apply for:
1. A contribution for pre- commercialization R&D and knowledge transfer
2. A repayable contribution to help get your agri-based products or services ready for the market
There are two streams within this program:
3. Industry-led Research and Development Stream — you may receive a non-repayable contribution of up to $5 million
4. Enabling Commercialization and Adoption Stream — you may receive a repayable contribution of up to $10 million
Youth Employment Program
You could receive a financial contribution towards the salary of a post-secondary graduate to help you research, develop and commercialise new technologies.
To be eligible, your business needs to:
1. Be incorporated and for-profit
2. Share a portion of the salary costs
3. Have up to 500 full-time employees
4. Be ready to enhance its innovation capacity
The duration of the internship must be between six and twelve months.
Enabling Accessibility Fund - Workplace Accessibility Stream
Your small business may qualify for a grant of up to $50,000 to improve accessibility in your facility to maintain or create job opportunities for people with disabilities.
Eligible activities may include:
1. Renovation, construction or retrofitting of buildings
2. Modification of vehicles for work use
3. Provision of accessible information or communication technologies for work use
To qualify, your business must have:
1. Fewer than 50 employees
2. Less than $5 million in gross revenue per year
3. The capacity to put in some of its own money or leverage funding from other sources
Networks of Centres of Excellence
Explore various funds available for your R&D activities, especially in the areas of engineering, health, and natural, social and biomedical science.
If your work responds to current research and innovation needs, there is a range of multi-stage competitions that are scheduled as funding becomes available. The programs address the needs that are specific to the different stages of the innovation process.
Application deadlines vary.
Canada Media Fund
If you are involved in the Canadian television or digital media industries, you may be eligible for funding. You can browse through a variety of programs that can help you create and promote software applications and other creative media.
There are two streams:
1. Experimental – for digital media content and application software that is innovative and interactive
2. Convergent – for convergent television and rich, interactive digital media content; support is given to production in all regions of Canada, and to underrepresented genres
New Horizons for Seniors Program
Eligible organizations can receive up to $25,000 in project funding and up to $5,000 in new small grants funding for organizations that have not received funding within the last five years (including the 2012-2013 NHSP call for proposals).
Three national priorities have been identified for the small grants initiative: projects benefiting vulnerable seniors populations, projects focusing on the diversity of Canada’s seniors, and projects using volunteerism to increase an organization’s capacity. Applicants must submit projects in line with at least one of these priorities.
Since 2004, the Program has funded more than 21,600 projects in communities across Canada, with a total federal investment of more than $452 million.