5 Ways For Your Small Business To Tap Into Government Money PDF  | Print |  E-mail

Some of the best funding sources for small business come from your local, provincial and federal government. A business grant is not incurred debt or surrendered equity, meaning you will not have to give up portions of your own business to obtain financing or repay it. The biggest hurdle for small business in obtaining government grants is the complex process of finding what’s available and applying with the proper credentials. Today’s business owners can rest assured; the Canadian Grants Business Center has done the work for them.

Here are 5 ways to help your business get the funding you need:

 

  • 1. Point out the ways your Business will contribute to the economy.

 

Once the Canadian Grants Business Center helps you in determining what funding is available, you will be tasked with an application process. The best way to be approved for funding is to point out how your small business will improve the local, provincial or federal economy. Will you be hiring new staff? Increasing total revenue? Growing your business internationally? Or coming up with an innovative way to increase efficiency, the government wants to make sure the taxpayers' dollars that make up these business grants get effectively used to increase the economy locally.

 

  • 2. Broadening your government funding potential.

 

As a small business owner, you may be fluent with R&D tax credits, but may not be aware of the abundance of grants available for your business today at all levels of the government. Be up to date with the Canadian Grants Business Center’s resources.

 

  • 3. Do not limit yourself to applying for only one business grant.

 

With all of the available business grants from the local, provincial and federal level, many businesses will be eligible. The most successful companies who secure grants every year are the ones who apply to more than one. Some businesses make this their strategy by analyzing the ones that they will have the most successful rate of being accepted. We can help you find those.

 

  • 4. Your business case presentation needs to be top notch.

 

Administration behind the government funds wants to see that their investment will go a long way. They want to see companies have set short and long-term business goals and have the ability to achieve them. Your application must show how you will reach your goals by using the funding being provided.

 

  • 5. If possible, collaborate.

 

Some funding programs have a pre-requisite in which large business must partner with smaller ones to obtain R&D or commercialization funding. Take advantage of this, as you can leverage this partnership to be legible for large business grants.

Contact The Canadian Grants Business Center today to see what funding is available for you.

 

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