Boost Your Business Technology Grant
One of the best ways to reduce your costs (and in turn increase your profits) is to ensure you are taking advantage of any government incentive programs that you qualify for.
Did you know the Government of Canada offers eligible businesses up to $15,000 to boost their business technology? Through the Canada Digital Adoption Program, the grant helps small and medium enterprises with planning their digital transformation projects.
You can apply if:
- you’re an owner or director; and
- your business:
- is Canadian-owned;
- is for-profit;
- has 1 to 499 employees; and
- has had at least $500,000 in annual revenue in 1 of the last 3 years.
Once your eligibility is confirmed, you work with a digital advisor to develop a digital adoption plan, and then you can submit your claim to receive your grant. Grants are up to 90% of the eligible costs for the digital advisor, up to a maximum of $15,000. You have up to 9 months from when the grant agreement is signed to submit your plan.
Additionally, when you are ready to move forward with implementing your digital adoption plan, you may be able to receive:
- A 0% interest loan of up to $100,000 to pay for new technology from the Business Development Bank of Canada; and
- Up to $7,300 to hire a skilled youth to implement the technology.
You can use the grant assessment tool to see if your business qualifies and the full program guide can be found here.