Small Business Grants

Who Qualifies for Small Business Grants?

There are thousands of small business government grants awarded each year. These government grants are free and you never have to repay the government. But not every business qualifies for every business grant out there.  Depending on your business location, industry and even how environmentally friendly you are, can all determine which funds you have access to. It is important to take the time to identify the government grant program that best suits your needs to speed up the application process and ensure approval.

Business Grants Based on Location

There are a number of small business grants that your business can qualify for based primarily on geography.  For example there are many more assistance programs for small businesses in Northern Ontario than in Southern Ontario and in Eastern or Northern Canada rather than central industrialized areas.  Businesses in the Northwest Territories should check out the Grants to Small Business Program Northwest Territories.  This program offers funds for small businesses, co-operatives, partnerships or sole proprietorships with less than $500,000 in gross sales. These businesses could receive up to $5,000 of free money that doesn’t have to be repaid.

Business Grants Based on Industry

There are also industries that fit well with current government objectives and are therefore targeted for funding. These include agricultural businesses, and the book-publishing and recording industries as well; all of which are vital to the sustenance of Canadian natural resources and cultural promotion.

For book publishers there is the Book Publishing Industry Development Program (BPIDP) which donates money to publishers in order to publish Canadian works that reflect Canada’s culture and language in Canada and abroad.

There is also The Canada Music Fund which offers financial aid programs to support the recording industry. Some of this funding often includes grants for small businesses promoting Canadian music.  The program also often provides funds to help music entrepreneurs cover expensive equipment necessary to become digital and self-sufficient.

Local Grants for Companies Going Green

Depending on the area that you live there are also likely grants for making your business more environmentally friendly.  For example, companies in the Greater Toronto Area (GTA) that are looking to go green, you may qualify for the Toronto Region Sustainability Program. This program gives financial incentives to businesses in order to encourage greener communities by cutting down on the amount of smog, greenhouse gases, air toxins, and hazardous wastes which threaten the region’s environmental health.  Businesses that contribute money to change to eco-friendly resources can be met with equal government funds of up to $4,000. Check your local MP’s office for similar incentives in your area.

Matching Contributions Business Grants

For businesses that do not qualify for their grants based solely on location or industry this does not mean that they can’t get any money, it just means that they may be required to contribute to or match the government’s grant contributions. This is the Canadian government’s way of ensuring individual accountability and drive to complete their project. When someone has to put a little bit of blood and sweat into something they are only likely to do it if it is important to them.