In Canada, the federal government provides funding for grants, but doesn’t administer them. Instead the government funnels the money to provincial and municipal government agencies to distribute. In the province of Ontario, these agencies also administer other types of lending programs, some of which require a minimal repayment or supplemental funding by the business.
One of the government’s mandates is to help build the economy, which means they encourage the development of certain industries in order to keep a good balance.
The following are government grants with no financial strings attached, other than strict reporting requirements. They are restricted to businesses operating in Ontario:
E-Business Broadband Development Grants
There are grants available of up to $5,000 to develop a company website or Internet business application in two areas of Ontario: Muskoka and Timmins.
Energy Conservation Grants
The Ontario Power Commission offers substantial grants (from $2,000–$2 million) to companies developing or testing new technologies that will help the public conserve energy.
University Collaboration Grants
If you have not utilized a university to help identify potential improvements that also help the economy, you might qualify for a $5,000 grant to cover meeting and travel expenses. You would need to choose a university research partner first, and they apply for the grant.
Tourism Enhancement Grants
If you run a tourist business, there are grants available to help you develop new tourism products or projects that attract more tourists to Ontario.
These are only some of the many provincial grants available to Ontario businesses. If you want to obtain one and need the assistance of a reputable financial services company to apply for it or administer it for you, be sure to call Hogg, Shain, & Scheck. Their professional accountants will be able to help you prepare all the required statements and paperwork which will help simplify the entire grant application process for you.