Starting a new business is an exciting endeavor, but it often requires financial support to get off the ground. Fortunately, the Canadian government provides various funding opportunities to assist small businesses in their growth and development. Navigating the world of government funding programs can be daunting, but with the right information, you can maximize your chances of securing the financial support you need. In this article, we will provide you with a cheat sheet of small business government funding programs available in Manitoba, Canada.
1. Small Business Loans and Grants
– Community Futures Program: Provides loans, grants, and support services for rural businesses in Manitoba.
– Canada Small Business Financing Program (CSBFP): Offers loans for purchasing or improving commercial real estate or acquiring essential equipment or assets.
– Western Economic Diversification Canada (WD): Provides funding for businesses to support innovation, growth, and regional economic development.
2. Research and Development (R&D) Funding
– Industrial Research Assistance Program (IRAP): Offers financial assistance to small and medium-sized businesses engaged in research and development projects.
– Scientific Research and Experimental Development (SR&ED) Tax Incentive Program: Provides tax incentives to businesses conducting scientific research and experimental development in Canada.
– Natural Sciences and Engineering Research Council of Canada (NSERC): Offers funding opportunities for collaborations between businesses and research institutions.
3. Exporting and International Markets
– CanExport: Provides funding to small and medium-sized businesses looking to expand into international markets.
– Trade Commissioner Service (TCS): Offers assistance and advisory services to businesses interested in international trade.
– Agriculture and Agri-Food Canada (AAFC): Provides funding and support to businesses involved in the agriculture and agri-food industry for market development and expansion.
4. Indigenous Entrepreneurship
– Indigenous Business Development Services (IBDS): Offers financial support, advice, and training to Indigenous entrepreneurs starting or expanding their businesses.
– Indigenous Entrepreneurs Office (IEO): Provides access to financing, business support, and resources specifically tailored for Indigenous entrepreneurs.
– Business Development Bank of Canada (BDC) Indigenous Banking Unit: Offers loans, consulting, and capital for Indigenous-owned businesses.
5. Women in Business
– Women Entrepreneurship Strategy (WES): Provides funding and resources to support women entrepreneurs in starting or growing their businesses.
– Women’s Enterprise Centre of Manitoba (WECM): Offers training, mentoring, and business loans for women-owned businesses.
– Futurpreneur Canada: Provides financing, mentorship, and support to young entrepreneurs, including women, aged 18-39.
6. Hiring and Training
– Canada Job Grant: Offers financial support to employers for skill development training programs for new and existing employees.
– Manitoba Education and Training: Provides funding for training and educational programs to help businesses develop a skilled workforce.
– Youth Employment Services (YES): Offers wage subsidies to employers hiring youth aged 15-29.
7. Innovation and Technology
– Industrial Greenhouse Gas Challenge Program (GHGCP): Provides funding to businesses for projects that reduce greenhouse gas emissions.
– Sustainable Development Technology Canada (SDTC): Offers financial support to companies in the development and demonstration stages of clean technologies.
– National Research Council of Canada (NRC) Industrial Research Assistance Program (IRAP): Provides funding and advisory services to businesses for technology innovation and commercialization.
8. Community Development
– Community Places Program: Offers funding for community projects that enhance local facilities and spaces.
– Economic Development Initiative (EDI): Provides support for projects that foster economic development and job creation in Indigenous communities.
– Selkirk and Regional Economic Development: Offers financial assistance programs for businesses and community organizations in the Selkirk region.
Remember, each funding program has specific eligibility criteria and application processes. It is important to thoroughly research each program, read guidelines carefully, and seek professional advice if needed. The small business funding cheat sheet provided here serves as a starting point for your exploration. By leveraging these government funding opportunities, you can give your new business the financial boost it needs to succeed in Manitoba, Canada.
