Ontario is a great place to start and grow a small business, but accessing funding can be a daunting task. Luckily, there are many government grants available to entrepreneurs in Ontario, and with the right knowledge, you can secure the funding you need to take your small business to the next level. In this blog, we will discuss the top 5 small business grants you need to know about in Ontario.
1. Starter Company Plus
Starter Company Plus is a grant program that provides up to $5,000 in funding and training to help young entrepreneurs start and grow their businesses in Ontario. Applicants must be between the ages of 18 and 29 and have a business plan that outlines how the funds will be used. Starter Company Plus funding can be used for expenses such as equipment, marketing, or rent.
2. Ontario Centres of Excellence (OCE) SmartStart Seed Fund
The OCE SmartStart Seed Fund is a grant program that provides up to $75,000 in funding to startups in Ontario. The program is designed to support innovation in the province and help startups grow and become more competitive. Applicants must be based in Ontario, have a validated business concept, and have a technology or innovation-based product or service.
3. Ontario Exporters Fund
The Ontario Exporters Fund is a grant program that provides up to $150,000 in funding to help Ontario businesses expand their markets beyond Canada. The program is designed to help businesses become more competitive globally and support the province’s economy. Applicants must be export-ready and have a plan to expand their markets.
4. Northern Ontario Heritage Fund
The Northern Ontario Heritage Fund is a grant program that provides up to $1.5 million in funding to support economic development in Northern Ontario. The program is designed to help businesses expand and create jobs in the region. Eligible expenses include equipment, land, building renovations, and marketing.
5. Canada Summer Jobs Program
The Canada Summer Jobs Program is a grant program that provides funding to help employers hire students for summer jobs. The program is designed to help students gain work experience and earn money during the summer months. Employers must be registered as a Canada Summer Jobs employer and provide full-time employment to students between the ages of 15 and 30.
In conclusion, securing funding for your small business can be a challenging task, but with the right knowledge and resources, it is achievable. These top five grants discussed above provide excellent opportunities for entrepreneurs to access funding and grow their business. Remember to research thoroughly, create a solid business plan, and provide detailed documentation to increase your chances of securing funding. Good luck!
