by Canadian small businesses can access various grants and funding programs to support their growth and development. These programs are often governed by specific laws, regulations, and guidelines.
Canadian small business grants and funding programs, along with the relevant laws and regulations:
Canada Small Business Financing Program (CSBFP):
The CSBFP is a federal loan program that helps small businesses access financing by providing loan guarantees to financial institutions. The program is administered by Innovation, Science, and Economic Development Canada (ISED) and is governed by the Canada Small Business Financing Act and its regulations.
Regional Development Agencies (RDAs):
RDAs, such as the Atlantic Canada Opportunities Agency (ACOA) and Western Economic Diversification Canada (WD), provide grants and funding programs to support economic development in specific regions. These programs are governed by the legislation and regulations that establish and guide the operations of each RDA.
Scientific Research and Experimental Development (SR&ED) Tax Incentive Program:
The SR&ED program encourages Canadian businesses to conduct research and development activities by providing tax incentives. The program is administered by the Canada Revenue Agency (CRA) and is governed by the Income Tax Act and its regulations, specifically Sections 37, 37.1, and 37.2.
Canada Job Grant:
The Canada Job Grant is a federal-provincial funding program that supports employers in providing training to their employees. The program is administered by individual provinces and territories, and each jurisdiction may have its own legislation, regulations, and guidelines related to the program.
Industrial Research Assistance Program (IRAP):
IRAP, administered by the National Research Council (NRC), provides grants and funding to support research and development projects undertaken by small and medium-sized enterprises (SMEs). The program operates under the authority of the National Research Council Act and its associated regulations.
Women Entrepreneurship Strategy (WES):
The WES is a federal initiative that aims to support women entrepreneurs by providing funding and resources. The program is administered by ISED and is guided by its associated legislation, regulations, and program guidelines.
Canada Business Grants and Financing Search Tool:
The Government of Canada provides an online search tool that helps businesses find grants, contributions, and other funding opportunities available from federal, provincial, and territorial governments. While not governed by specific legislation, this tool serves as a valuable resource for businesses seeking funding options.
Canada Emergency Wage Subsidy (CEWS):
The CEWS was introduced as part of the government’s COVID-19 response to help employers retain and rehire employees. It provides a subsidy for a portion of eligible employee wages. The program is administered by the Canada Revenue Agency (CRA) and is governed by the COVID-19 Emergency Response Act and its associated regulations.
Canada Summer Jobs (CSJ) Program:
The CSJ program provides wage subsidies to employers hiring students for summer employment. It is administered by Employment and Social Development Canada (ESDC) and is guided by program guidelines and requirements outlined by the department.
Business Development Bank of Canada (BDC) Programs:
BDC offers various funding programs and financial services to support small and medium-sized businesses. While BDC programs are not governed by specific legislation, they operate within the framework of BDC’s mandate and policies, ensuring compliance with applicable laws and regulations.
CanExport Program:
The CanExport program provides financial assistance to Canadian businesses seeking to develop new export opportunities. It is administered by Global Affairs Canada and is guided by program guidelines and requirements set by the department.
Futurpreneur Canada Programs:
Futurpreneur Canada provides financing, mentorship, and support to aspiring entrepreneurs aged 18-39. While not governed by specific legislation, Futurpreneur operates under its mandate and program guidelines to ensure compliance with applicable laws and regulations.
Women’s Enterprise Initiative (WEI):
The WEI is a program that supports women entrepreneurs through financing, business support, and resources. The program is administered by regional organizations across Canada and is guided by program guidelines and requirements established by each organization.
Provincial and Territorial Grant Programs:
Each province and territory in Canada may have its own grant programs and funding initiatives for small businesses. These programs are often administered by provincial or territorial government departments responsible for economic development. The laws, regulations, and guidelines governing these programs vary by jurisdiction.
