Every year, the Canadian government gives out millions of dollars as grants money to develop businesses of all sizes and sectors in the hope of strengthening the local economies, creating employment, and bringing about economic development in Canada. Free Canadian government grants can be obtained by presenting a comprehensive proposal to the department concerned. Once the eligibility criteria are checked, your project will be assessed to measure its feasibility, sustainability, and how it benefits the community on the whole, depending on which the grants money will be given.
Free Canadian government grants have been used by many companies, organizations and individuals to start, improve, or expand their businesses and it is something everyone must consider. Grants money is awarded each year in millions to small, medium, and large enterprises and that is why the competition to get these free Canadian government grants is high. Firstly, one needs to know the various kinds of grants available and their very specific details. Only by knowing the eligibility criteria in details can you decide which free Canadian government grant you should apply for.
After deciding which grant you are eligible for, you need to formulate your proposal by understanding the assessment criteria. Grants money will not be given to you unless you convince the government of your projects overall developmental and beneficial role. Your proposal will be assessed based on mainly these points:
• Adverse effects on existing businesses
• Net economic gain in the locality
• Economic feasibility
• Sustainable employment
• If your project is in a priority sector
Based on the above and many additional criteria, your proposal is assessed and offers to give you certain amount of grants money are made. The amount of assistance you will get depends on many other factors like your economic status, benefit of the project, etc. There are many free Canadian government grants available for business like the Cooperative Promotion Board which seeks to promote cooperative organization which can bring about community development, Feasibility Study Program which bears up to 75% of the costs of hiring a consultancy for carrying out a detailed feasibility report of the project, and the Young Entrepreneurs Program which lends support to youth between 18 to 29 years of ages to start their own full-time business. Grants money ranging from $1000 to a maximum of $10 million may be given per project.
Canadian women can acquire assistance up to $100,000 for starting or expanding businesses. Canadians of aboriginal heritage are eligible for many grants related to starting of business, housing, student employment, and even education. All First Nation, Inuit, and Métis individuals or organizations are eligible for these free Canadian government grants.
A lot of grants money is allotted for research and development of improved technologies which help in bringing about improved processes and products. Art and culture related projects undertaken by individual artists or artistic guilds can avail the many free Canadian government grants designed for their specific needs. Special attention is given to environment friendly projects related to waste reduction and pollution control like the Waste Reduction and Pollution Prevention Fund (WRPPF). Programs to increase the tourist value of a place are also eligible for grants money.
There are number of free Canadian government grants available for those seeking financial assistance in starting or expanding business in Canada. Grants money are available for projects related to art, culture, tourism, environment, assistance programs for minorities, and even individual purposes.