2019 CanExport FAQs: Canadian Business Expansion Grant
Do you want to enter a new market outside of Canada?
You’re in luck! On August 22, 2019, the CanExport business expansion grant increased eligible expenses to cover 75% to a maximum amount of $75,000 for small to medium-sized enterprises (SMEs). The program will be expanded to include companies from Canada’s agriculture, agri-food and agri-products industry which includes fish and seafood. An SME is defined as a company with under 500 employees.
We often mention in previous blog posts the importance of understanding the grant intention in the application process. The goal of the CanExport Canadian business grant is to help companies develop new export opportunities and markets, especially high-growth emerging markets.
We work with clients to clearly demonstrate how their market expansion projects help with the grant’s goal of building the presence of Canadian goods and services in foreign markets. We have a 92% success rate for getting our clients market expansion grants.
How to Best Use Our Innovative GetGranted System
After a lot of hard work and feedback from clients, we have just launched our GetGranted system!
GetGranted allows companies to get automatic notifications on government grants they could qualify for. The system shows grants that focus on hiring, training, innovation and market expansion. You can choose the kind of funding you want to be updated on and change your preferences anytime as your business changes.
How to Leverage Canadian Hiring Grants
Now is a great time for businesses to capitalize on the different types of hiring grants that are available. Many of these funding programs support hiring young people and recent grads.
These are common questions we get from clients:
- How much can I get from a hiring grant?
- How long can I hire people for?
- When should I apply for the grant and start interviewing?
- What kind of job positions will qualify for a grant?
We’ll answer all of these questions in this post and give you some examples of the kinds of hiring programs that open up throughout the year.
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.
How These Companies Received Over $27,000 in Business Expansion Grants
We have secured over $2 million in government grants for business expansion for our clients. Whether you’re looking to grow your business in Canada, U.S. or globally, there’s money waiting for you!
We know how much capital it takes to expand operations and many companies often look for loans through their contacts, banks or private lenders. But with all of these options, you have to pay back the money and the interest.
With a business expansion grant, you don’t have to pay back any money at all. This source of funding is not used nearly enough. The grants we have secured for clients range from $20,000 to $200,000, particularly in life science, agriculture, manufacturing and communication technology sectors.
What would you do if your expansion projects had another $30,000 in the budget? What about $50,000? It’s all possible.
Many companies aren’t sure what kind of expenses are covered with business expansion grants. The details are different for each grant, but the money can be used to cover a variety of costs including flights, shipping expenses, trade show booth and accommodation.
We notify clients as soon as they qualify for a market expansion grant and we set up a meeting to apply on their behalf. To give you a sense of how these have worked for our clients, here are two of many companies for which we successfully secured funding.