There are a plethora of small business grants in Canada. Usually they are specific, but some can be broader, meaning there will be more applicants and competition will be stiff.
But even getting to the application process can be challenging. Finding Canadian business grants that your business is eligible for can feel like digging in a haystack. The last thing you want to do is spend hours or days on the internet researching. A lot of grants that small businesses may be eligible for don’t specifically list small businesses, which can be confusing.
No matter what stage your business is in, whether it is a newer startup or a well-established business and you’re looking to expand, there is most likely a small business grant for you.
4 steps to apply for small business grants in Canada
1. Build your business plan
Even if you’re not applying for a grant, creating a business plan is always a good idea. You’ll need one for any type of funding you’re looking for. A business plan will help set you up for success, no matter what stage your business is at. It gives you a clear overview of your business, including structure, milestones, market research, and financial health and projections.
Should you not be eligible yet for a business grant, or if your application is unsuccessful, a business plan will help set your business in a position to be a good candidate in the future. You can also use it to help you build credit, which will look good on any grant application down the road.
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2. Know what you’re looking for
Not all small businesses are eligible for grants, so spending time preparing a grant application that won’t be successful is time wasted.
While there are always exceptions, small business grants in Canada tend to be specific to certain demographics and/or tailored to a very specific need or market. Some regions in Canada offer specialized incentive grants, such as the Northwest Territories and Nunavut.
In Canada, there tend to be umbrella grant categories that include environmental technology, biotechnology, agricultural business, and some arts-based businesses. Retail businesses and franchises tend to not be eligible.
Get grants for your business
Did You Know You Can Apply for Government Funding for Your Small Business? Ownr’s Free Guide Shows You How.