Nate Chick https://www.tradeready.ca/author/nate-chick/ Blog for International Trade Experts Mon, 17 Jan 2022 20:31:17 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 33044879 Top government funding programs for winter 2022 https://www.tradeready.ca/2022/success-stories/top-government-funding-programs-for-winter-2022/ https://www.tradeready.ca/2022/success-stories/top-government-funding-programs-for-winter-2022/#respond Mon, 17 Jan 2022 19:36:43 +0000 https://www.tradeready.ca/?p=36319 While the Canadian government works to offset economic instability in 2022, the success and growth of our country’s SME business operations are more important than ever. From hiring and training grants to loans for technology adoption to funding for businesses to combat the omicron variant, there are a wide array of government funding programs available this winter.

Canadians preparing for another year of change to new circumstances can look to the following top government funding programs for winter 2022. They can also take note of current tax incentives that could benefit their business.

Top government funding programs for winter 2022

 

Agricultural Clean Technology (ACT) Program – Research and Innovation Stream

The Agricultural Clean Technology (ACT) Program – Research and Innovation Stream supports research, development, and adoption of cleantech. These improvements are made possible by innovations in precision agriculture and agri-based bioproducts. Technologies must reduce greenhouse gas emissions and promote sustainable growth to be eligible.

  • Amount: Successful applicants can get up to 50-75% of eligible expenses to a maximum of $2M per project or $5M per applicant with multiple projects.
  • Eligibility: Applicants can be provincial/territorial governments in Canada, for-profit agri-businesses, and not-for-profit agri-organizations to be eligible.

Canada Summer Jobs (CSJ)

The Canada Summer Jobs (CSJ) program is dedicated to helping employers offer youth employees supervised, career-related, work experience. With the CSJ, it is a requirement that the work experience gained through the summer placement further develops the skills and knowledge for employees and prepares them for real-world work.

  • Amount: Successful applicants can get up to 50% of minimum hourly rates for employees. Some non-profits can receive up to 100% of minimum wage. Funding through CSJ is capped at $300K per employer/province or territory.
  • Eligibility: For-profit SMEs, non-profits, and public sector organizations are eligible if they have less than 50 employees. Placements for youth employees should be full-time (30-40 hours/week) and last between 6-16 weeks.

Canadian Food Innovation Network (CFIN) – Booster stream

The Canadian Food Innovation Network’s (CFIN) program helps food and beverage organizations in Canada that bring innovation to the food industry. This stream funds the research and development for tech readiness level initiatives one-seven. CFIN’s intent is to make Canada a food and beverage leader in the world.

  • Amount: Applicants can get up to 50% of costs for projects ranging from $20K-200K. Costs incurred prior to approval will not be eligible. All approved projects are subject to a 5% fee (by CFIN) according to total costs.
  • Eligibility: Must be incorporated for more than one year, have fewer than 500 full-time equivalent (FTE) employees, and have less than $50M in taxed revenues per year. Lastly, successful applicants must be CFIN members upon approval.

Innovative Solutions Canada (ISC)

ISC offers grants and procurement contracts to stoke innovations in technology research and development for commercialization in Canada. ISC supports startups and SMEs to surpass technology development obstacles in producing globally-demanded products and services, while also improving government operations.

  • Amount: Phase 1: Grants up to $150K; Phase 2: Grants up to $1M; Phase 3: Government procurement contracts with no fixed maximum.
  • Eligibility: For-profit, privately held Canadian businesses with fewer than 499 FTE employees.

Top government loan programs for winter 2020

 

Business Scale-up and Productivity Program (BSP) Southern Ontario

The BSP Program helps Canadian organizations adapt technologies to improve their productivity. Funding stimulates early adoption or adaptation of innovative tech and processes, commercializing/producing new products or processes, expanding management capacity, and researching/developing export markets.

Are you researching new markets for your business? Learn how to do it the right way with the FITTskills International Market Entry Strategies online course. 

  • Amount: This is a contribution (no-interest loan) that is repayable and offers up to 35% of eligible expenses to a max of $10M. Minimum ask of $500K allowed.
  • Eligibility: Southern Ontario SMEs that are incorporated and have been profitable for more than three years. Must have a minimum of five employees. Pre-revenue companies and those with fewer than five employees require proof of scale-up potential.

Canadian Agricultural Partnership (CAP)

The Canadian Agricultural Partnership (CAP) is contributed by the federal, provincial, and territorial governments across Canada. This program provides funding for agri-food industry businesses and is the pillar organization responsible for repayable grant funding contributions to SMEs, non-profits, and other major industry stakeholders.

  • Amount: The CAP Program offers various streams of federal and provincial funding opportunities ranging from grants and loans for a maximum of up to $10M.
  • Eligibility: Eligibility varies from stream to stream. Base eligibility includes Canadian businesses, incorporated and profitable for three or more years. Must have five or more employees.

Strategic Innovation Fund (SIF)

The Strategic Innovation Fund (SIF) is a government funding program at the federal level that supports Canada’s technology and industrial sectors. SIF offers financial grants and loans of up to 50% of a project’s costs with the intent of promoting venture into the types of activities that drive continuous productivity and economic advantages.

  • Amount: Minimum funding contribution of $10M per project. Type of financial support awarded is at the discretion of the program; this can consist of a combination of repayable financial support and/or financial reimbursements up to 50% of project costs.
  • Eligibility: Incorporated Canadian businesses with high growth potential and the ability to drive innovation.

Southwestern/Eastern Ontario Development Fund (SWODF/EODF)

The Southwestern Ontario Development Fund (SWODF) and the Eastern Ontario Development Fund (EODF) programs encourage businesses to invest in facilities and equipment that can create innovation for the industry. The programs attract SME and large-scale projects that provide a substantial impact on business productivity and create new employment openings within a company. Successful applicants receive grants or a combination of grants and repayable loans to offset project costs.

  • Amount: Successful applicants can get up to 15% of project expenses to a maximum of $500K -$5M.
  • Eligibility: Applicants must be at least three years incorporated, have more than 10 full-time employees (five FTE in rural communities), commit to creating at least five new jobs, and be located in southwestern/eastern Ontario.

Learn More About Grants and Loans for Your Business

The programs above are intended for small to medium-sized businesses that have been incorporated for at least three years, generate at least $500K in annual revenue, and have 15 or more employees.  If you do not meet these qualifications, please visit Mentorworks source for Canadian Startup Business Resources.

Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training.
]]>
https://www.tradeready.ca/2022/success-stories/top-government-funding-programs-for-winter-2022/feed/ 0 36319
Funding news: New intake of Canadian Agricultural Partnership (CAP) Ontario producers stream to help farmers https://www.tradeready.ca/2021/topics/funding-news-new-intake-of-canadian-agricultural-partnership-cap-ontario-producers-stream-to-help-farmers/ https://www.tradeready.ca/2021/topics/funding-news-new-intake-of-canadian-agricultural-partnership-cap-ontario-producers-stream-to-help-farmers/#respond Wed, 17 Nov 2021 20:02:37 +0000 https://www.tradeready.ca/?p=35660 The Canadian Agricultural Partnership (CAP) Ontario has declared another round of funding will come through the CAP Ontario Producers Stream to provide up to $10.21 million more in funding. This next intake will open on November 15, 2021.

“We are committed to helping farmers with strategic on-farm investments that improve their bottom line and generate sustainable economic growth. These cost-shared investments will not only build a stronger, more innovative agriculture sector in Ontario but support the prosperity of rural communities across the province.”
– Honourable Marie-Claude Bibeau, federal Minister of Agriculture and Agri-Food

This intake will help agri-food producers make food safe and secure, escalate the health and wellbeing of livestock, and bring top-of-industry products and services to market quickly.

“Our government is investing in these projects to help farmers and other businesses adopt innovative solutions that help increase their productivity in the agri-food sector. When we invest in the agri-food sector, we’re supporting the industry in creating good jobs and economic growth, which strengthens Ontario’s economy.”
– Honourable Lisa Thompson, provincial Minister of Agriculture, Food and Rural Affairs

The Canadian Agricultural Partnership (CAP) began in 2018 and has strengthened and grown the agriculture sector for producers by providing programs and services to help agricultural businesses in Canada grow with variants of funding available through both federal and provincial sources. Moreover, CAP is a five-year initiative committed to an investment of $3 billion in the agri-food and agri-products sectors.

Funding amount

Applicants may receive between 25% to 50% of funding from the CAP Ontario Producer Stream depending on the project focus. Some projects may receive up to $100,000 in grant funding support. Learn more about funding opportunities for CAP Ontario producer applicants.

Applicant eligibility

The CAP Ontario Producers Stream is a highly sought-after program for agriculture producers because the eligibility criteria for this program are quite general. Eligible applicants for the CAP Ontario Producers Stream will fulfill the following criteria:

  • File business and/or farm income loss taxes in Ontario;
  • Have a valid Farm Business Registration Number (FBRN), unless exempted; and
  • Have a Valid Premises Identification (PID) Number.

To see more eligibility criteria, visit the CAP Ontario program page. If your business is eligible for this program, consider visiting this comprehensive list of funding opportunities for agriculture businesses.

Eligible projects

CAP Ontario Producers Stream applicant projects must fit in an identifiable project category. Projects generally fall under at least one of four broad areas:

  1. Business planning and improvements;
  2. Equipment improvements;
  3. Safety and traceability improvements; and
  4. Farm improvements.

Please note that applicants can have up to two active projects if they are both submitted through separate applications. This list offers popular projects for the CAP Ontario Producers Stream and their corresponding funding allotments for approved applicants:

  • Enhanced Biosecurity for African Swine Fever Preparedness Initiative: 50% of eligible expenses to a maximum of $40,000.
  • Please Note: this project has an application deadline of December 3, 2021.
  • Traceability System Improvements (Animal Health): 50% to a maximum of $60,000;
  • Food Safety and Traceability System Improvements: 50% to a maximum of $60,000;
  • Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and Controlling Workflow: 35% to a maximum of $50,000;
  • Preventing Access by Wildlife, Pests, and Rodents: 25% to a maximum of $50,000;
  • Selling to Export Markets: 35% to a maximum of $50,000;
  • Market Products in Canada: 35% to a maximum of $45,000;
  • Technology and Equipment to Improve Labour Productivity: 35% up to a maximum of $100,000; and
  • Other Businesses – Preventing Introduction and Spread of Pests Through Isolation, Sanitation, and, Controlling Workflow: 35% to a maximum of $50,000

To learn more about individual projects and their eligibility, you can refer to the CAP Ontario producer-guided search.

Program Timelines

CAP Ontario Producers Stream applicants may apply for the program beginning on November 15, 2021. The next intake deadline is December 6, 2021. Applications will take about three months to be approved after the submission date.

Please Note: The application deadline for the Enhanced Biosecurity for African Swine Fever Preparedness Initiative will be December 3, 2021.

The CAP Ontario Producers Stream allows for deposits prior to approval. However, businesses cannot receive or fully pay for the equipment until they have been approved.

Get Started with Government Funding

The Canadian Agricultural Partnership Ontario Producers Stream is a valuable opportunity for Ontario organizations in the sector. However, there are many more funding programs available for agriculture. If you are looking for more than simply agriculture programs, visit this full-scope government funding program directory.

Businesses can also visit this comprehensive government funding resource page which provides a variety of useful resources to get you started. To read more about programs, strategies, and success stories, visit the MentorWorks news channel for everything government funding.

Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the Forum for International Trade Training.
]]>
https://www.tradeready.ca/2021/topics/funding-news-new-intake-of-canadian-agricultural-partnership-cap-ontario-producers-stream-to-help-farmers/feed/ 0 35660