Everyone can benefit from a training grant. Thousands of businesses from all sectors apply for training grants in Canada every year, and they are awarded. You see, a training grant or any grant, in general, has so many advantages, it will be a difficult task to list them all.
Additionally, training grants are awarded irrespective of age, gender, or race. It is the government’s way of assisting people to acquire knowledge. All you need is a good reason for a grant and a certain level of dedication.
Sadly, the more significant part of the populace in Canada is missing all the excellent opportunities that come with applying and getting a training grant. For the most part, a lot of people are skeptical about the chances of getting a training grant. On the other hand, there are some who do not see the need to apply for a training grant. However, what people fail to realize is that with a training grant, you have everything to gain and nothing to lose.
Grants have been around for a very long time, and only a fraction of people in Canada have benefited from the initiative. Now, slowly but surely, people are starting to see the benefits of getting a training grant. Aside from the financial assistance, there are a lot more upsides to receiving a training grant from the government or an organization. Keep reading, and we’ll show you why you need a training grant. Let’s start by taking a quick look at what a training grant is.
What is a Grant?
A grant is a financial award usually given by the government at any level to a person, a group of people, an institution or a business for the sole purpose of facilitating and aiding an initiative that will eventually be beneficial to the society at large. A government grant is usually given for a singular purpose and requires some level of commitment to that purpose and accountability.
Grants are not just given. You need to apply for them, and they are usually awarded based on need or merit. You see, you must have a justifiable reason for applying for the grant. Although grants are generally in the form of money, it is not always the case. In Canada, government grants can also be in the form of subsidies, scholarships, opportunities and of course, cash.
A grant is essentially one of the tools the government uses to sponsor ideas and projects that will provide public service, aid economic growth and benefit the general public. When cash grants are given, as long as you use the money for the purpose for which you received it, you do not have to pay a dime back. That is very convenient!
Quick Facts About Grants
Here is some important information you need to have about grants.
- Government grants are free. You do not need to pay a cent to apply for it, get information or receive your grant when it is awarded.
- You need to apply for a grant. Grants are not just given out to random people. Also, you will be required to submit some paperwork.
- Grants are intended to aid the general public when eventually used. They are not meant to be used for personal needs. In some cases, especially with cash grants, you may be required to account for how you spend the money you were given.
- A grant is not a loan. You do not have to pay back the money you get from a grant. However, if you go against the conditions for which you were awarded the grant, there will be repercussions.
Types of Grants
In Canada today, there are different types of grants you can apply for, depending on which will help you achieve your goals. There are grants for specific purposes and also grants that are more flexible. Here are some of the types of grants in Canada.
Research and Development Grants
These are usually awarded to institutions, companies or persons who are actively involved in the quest for valuable knowledge that will be beneficial to Canada at large. Therefore, instead of allowing your research to suffer because of a lack of proper funding, apply for a grant that is related to your industry. With a research grant, you may be required to share your findings with the grantor, but that should not constitute any problem.
Another reason you need to apply for a grant is to help develop your business and reduce the risks involved. When small to medium-scale companies are working on effecting solutions that aid societal development, the government is more inclined to award grants to help them on their journey. This is what a development grant constitutes.
This may be a surprise, but some grants will help you recruit new employees without incurring so many extra expenses. This type of grant will help subsidize the wages you have to pay by either awarding a lump sum for every hire or paying a percentage of the wages for each new employee.
This will be our point of focus in this article. As the name implies, training grants are awarded to help people acquire practical knowledge in a certain field of study. The grant provides funding for either students, teachers, members of staff or even an entire faculty to enter a coordinated training program in a particular institution. The government is very interested in equipping people with knowledge and useful skills which can be useful to the growth and development of the country.
Training grants help subsidize the budget for learning for students, workers in a company or even independent business owners. Depending on what you need to learn or get training for, you can apply for a training grant to ease the burden of fees on you. So you see now, there is no reason not to get that training that you’ve always wanted.
Why You Need a Training Grant
There are several reasons why you need to apply for a training grant. The advantages are numerous, but we will give you a few of them. Keep reading to find out why you need a training grant.
You Get Free Money
This is perhaps the most apparent reason you need a training grant. Remember that a grant does not cost money to apply for. So when you put in the paperwork for a training grant in Canada and you are chosen, you get the money that you didn’t exactly work to earn.
Yes, you put in the hours in preparing your grant application, but it’s still free money. And even more, you do not have to pay it back. However, do not forget that the training grant is for the sole purpose of getting knowledge. Therefore, let the money go into that.
You Get to Learn More for Less
If you have been wondering how you can meet up with the fees for getting specialized training, then you need a training grant. This is so especially if you need to get multiple training from different institutions. If this is the case, training fees can become quite cumbersome.
However, with a training grant, you get to pay just a fraction or in some cases, nothing at all to acquire the information that you desire. Therefore, you get to learn a lot more at a little cost. No matter how you look at it, it is a win-win!
A Grant Puts You on the Map
When you are awarded a training grant, you are brought to the notice of the government and several prestigious companies that are in the field in which you want to study. Winning a grant will afford you several opportunities money cannot get you as you benefit from free promotion and publicity.
Depending on how you ride the waves of this publicity, you can get several priceless benefits that may even surpass the grant you were awarded. If you are a business owner, your business will receive more prestige, and you gain the trust of customers. Winning a grant is can be a quality stamp from the government.
You Get Networking Opportunities
Our final reason why you need a training grant is the opportunity it offers to connect with people in the same field as you. A training grant will push you into the gathering of people with like minds and goals where you can build new relationships and learn even beyond the scope of the training. You can also find partnership opportunities or even a business mentor from whom you can learn about your field of interest. The possibilities are limitless.
There are numerous benefits to getting yourself a training grant. Without spending money, you can get so much value. The playing field of grant applications may be competitive, but that is why your creativeness and ingenuity comes into play.
Take that bold step and apply for a training grant in Canada today. Remember, you have nothing to lose and everything to gain. Do you have further questions about training grants? Or are you wondering how to apply for a training grant in Canada? Please contact us, and we’ll help you!
Related article: Training Grants for Companies in Canada