We’ve all been living in the crisis mode for about three consecutive months. It is now time to accept the reality as a new normal and get back to the plans we had for our businesses before the pandemic.
The good news is that most government funding programs to support your business growth and solving its most pressing challenges are still available. Here are some of them.
Canada-Ontario Job Grant provides 50%-83% of the training cost. Online training is eligible. If you postponed employee training due to pandemic, ask your trainers if they can deliver the training online.
IRAP Youth Employment program provides up to 80% of the salary of the science and engineering graduates you may hire. Other hiring incentives are also available.
The famous SR&ED Tax Credit program now conducts online audits and claim reviews. The program is open for applications. Your business may be eligible to claim 60% of the labour cost spent on research and development.
Business Expansion grants and loans, such as SWODF, EODF and BSUP, are still available. If you’ve been thinking of expanding your building and buying equipment before the crisis, it is time to revisit your plans and apply for one of the expansion funds.
Last but not least, the CanExport program is still available. This program compensated 75% of international business travel and trade show expenses. Now that the business travel is not an option, you can apply for the funding to get regulatory approval to export your product, e.g. FDA approval. Participation in virtual trade shows and conferences and online advertising is now eligible, as long as you are pursuing export market opportunities.