$100,000+ in Savings and Impacts of Government Grants
Over $100,000 in Savings and Impact of Government Grants
One of the most obvious benefits of government grants are that companies can get funding that they don’t have to pay back. But besides the tens of thousands of dollars that our clients have saved, grants are having an amazing long term impact on businesses across industries every day!
Canadian government business grants help companies offset risks, build revenue opportunities, create jobs and get more funding without giving up equity. Unfortunately, most people don’t often hear about the wonderful stories grant recipients experience, so we’ll share some ways government grants have helped our clients beyond cost savings.
$234,000 in Savings from a Business Expansion Grant for a Coffee Roaster
There are often funding programs for companies who want to expand their business in Canada or internationally. We helped a coffee roaster secure a business expansion grant to grow their business locally and identify international opportunities they could capitalize on.
This is how the business expansion grant helped the company:
- One year, they got 18% more in sales than they anticipated for the local market
- They were able to create jobs for five new staff
$155,300 in Savings for a Consulting Firm
A consulting firm with eight staff was in growth mode and their turnover was usually 12 to 18 months. They decided to provide more training within the company to build and upskill the executive team.
The company secured $80,500 in training grants and $55,800 in hiring grants with a total savings of $155,300. This funding helped:
- Double revenues for 2 consecutive years
- Reduce the turnover rate
- Empower staff
- Develop new services
Training and Hiring Grant for a Construction Firm
We worked with a construction firm who wanted to skill up their current staff on site, enhance the skills of the management team and hire new apprentices. New hires also needed to learn basic training about essential safety procedures and other important information.
The company received $40,000 in training grants and $10,000 in hiring grants. While it’s wonderful that the company ended up saving $55,300 in total, they measured the impact of the training and this is what happened:
- The increased safety awareness reduced the number of accidents that occurred
- Knowledge of the business increased beyond employees’ direct roles
- Reduced risked for new hires
Training Grants
No matter what industry you’re in, there are federal and provincial funding programs that can help businesses train existing or new employees to become more employable. The training has to be provided by an eligible training organization and focus on improving the business performance.
Some examples of training topics include, but are certainly not limited to, project management, sales and marketing, customer service, leadership and software and technology. You’ve seen the incredible results that can happen from our client stories with just one or two government grants.
Hiring Grants
If you’re planning to grow your team, you can take advantage of hiring grants to help get qualified workers to support your business plans. It’s hard to find good talent and you can lower your financial risk by taking advantage of all of the available funding that your company is eligible for.
Many of our clients have hired young people through various hiring grants including summer programs. The summer funding actually opened up in the fall and we help companies prepare their hiring applications so have an expanded team by this season. Even though any grant program can end at any time, we have often seen hiring programs get renewed every year.
Hiring Grants for Global Workers
Why limit your hiring to Canadian workers?
If you’re having trouble finding the right talent for a specialized skillset in Canada, the Global Talent Stream allows businesses to grow their operations by hiring professionals from around the world to help companies innovate, share their knowledge and create better jobs in the country. The program creates a predictable way of bringing in global talent where Canadian workers aren’t available to do those roles.
Since 2017, the program has helped:
- Invest over 10,000 $90 million in skills and development training for employees
- Create over 40,000 new jobs for Canadians and permanent residents
- Develop over 10,000 co-op placements
You can access this funding program if you have been referred by one of the program’s designated partners and hiring specialized talent. You can also access Category B of the Global Talent Stream if you want to bring in highly skilled foreign workers to fill positions on the Global Talent Occupations List.
Why Many Companies Don’t Succeed in Getting Government Grants
We’ve been securing grant funding for companies since 2011 and totally understand the frustrations that come with applying for government grants. These are the most common reasons why businesses aren’t awarded hiring, training and business expansion grants:
- Not assessing the government grant properly
- Incomplete application
- Misunderstood the grant intention
- Forgot to involve stakeholders in the application
- Infrequent research
Companies leave literally billions of dollars of funding on the table every year because of these common challenges and mistakes.
How Can You Get Hiring and Training Grants?
If your company wants to skill up your staff or expand your team, there are a variety of government grants that are available. There are two ways you can conveniently access these hiring grants and training grants:
Once we know what kind of funding you’re looking for, our consultants will monitor all of the available grants, personally update you on what your business is eligible for and manage the full application process so you can focus on running your business.
If you want to get automatic updates on what government grants you qualify for, you can simply sign up for our easy-to-use GetGranted system and apply for the programs you’re interested in. As new programs come out, you will automatically be updated to save your team a lot of time from manually checking for funding.
We’re looking forward to hearing your impact story.
Conclusion
Our clients have saved tens of thousands of dollars and even over $200,000 thanks to government hiring grants and training grants. Not only does this funding help businesses save on cost, but makes tremendous long term impacts in various ways.
The government grants have helped our clients increase sales, create new jobs, enable employees to increase their business knowledge and reduce the number of accidents on the work site.
Some of the reasons businesses aren’t able to take advantage of hiring and training grants is because they misunderstood the intention of the grant application, didn’t involve stakeholders or didn’t research for programs often enough. You can avoid these barriers by either using our experienced grant experts to manage the full process for you or be automatically notified about all of the Canadian government business grants your company qualifies for at any given time.
