• Government funding - one possible way to fund your business growth

  • During tough economic times, businesses need to look to all available opportunities (including government funding) in order for them to maximize their business growth. So why not leverage some of the taxes you pay by finding out whether there are Government Grants and Government Secured Loans available to fund your growth initiatives?

    Government grants and secured loans can fund business growth

    Government grants and secured loans can fund business growth

    Each year (April 1) the government adds and subtracts funding initiatives that may make a big difference to smart and wide awake companies that can assist them with the funding for their future ventures, depending on the industry that a business operates in.

    Understanding the system helps

    Many of the funding programs that have been announced over the previous year will come into effect at the beginning of a funding year. A lesser known fact is that many government grants and government loans programs have a fixed annual budget that resets in sync with the calendar year. So, if you have missed the funding one year, it may well be available to you the next year. Either way, having someone that can look into it for you would be extremely useful, in particular, well ahead of the initiative’s start date.

    However, don’t wait till the new year. You can apply anytime you want, but deal with someone that can advise you before the application – it will save you tons of time and energy. And you may be surprised by what can be unearthed on your behalf.

    As in previous years program funding may be available for the following business endeavours:

    • Starting a new business
    • Expanding an existing business
    • Investing in capital expenditures (equipment etc.)
    • Investing in skills training for staff
    • Employment and hiring subsidies for new workers
    • Agricultural subsidies
    • Manufacturing subsidies
    • Assistance for export related business endeavours
    • Tax credits and direct subsidies for business research (product or processes)

    If any of your initiatives possibly fit with any of the above-mentioned items, you could be in for a windfall.

    We often come across opportunities to claim government funding for the initiatives we help clients with (and that could include our fees as well). Consequently, we have colleagues that specialize in the application process. Simply complete the form on this page with some of your growth initiative details and we can help you identify what is or isn’t possible with regard to this funding. If the odds are good, we can help you with the application process so that you enhance the odds of your application being successful.

    So, have an open mind. Be creative (or allow us to be creative on your behalf). Let the government funding initiatives help fund your growth – it could save you thousands of dollars and provide you the opportunity to undertake certain initiatives that you never thought you had money for.

    By Neville Pokroy
    Neville Pokroy

    Neville Pokroy has over 30 years of experience in all aspects of business growth, strategy and marketing, from big business to sole proprietorships. His hands-on experience spans the most basic to the most strategic, and everything in between. This has provided him with tremendous insight at all levels of the marketing discipline, and in particular, how it impacts on the ability of businesses to leverage marketing as a prerequisite for growth in a changing world.

    If you are interested in finding out how these skills and insights can help you grow: Call me today 905-886-2235. email: neville@mastermindsolutions.ca.