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Funding

Small Business Success Grant Program

Unlock Your Success Story: Propel Your Small Business Forward with the Small Business Success Grant”

Provided by: SBSG Canada

Current Stage Deadline: September 8th, 2023

Apply via the Funding Database

The early stages of a startup can often be the most challenging.

SBSG understands that getting your new business off the ground can be an exhilarating yet challenging journey. The Small Business Success Grant Program, which offers up to $1,500 in non-refundable funding, is designed to support small businesses like yours and help you turn your great ideas into successful ventures.

Small Business Success Grant Overview

The Small Business Success Grant is a program specifically created for new, for-profit, privately owned businesses located in British Columbia.

If your business has generated no more than $10,000 in annual revenues, you’re eligible to apply. What’s even better? You can use this grant as you see fit to further the growth of your business. There are absolutely no strings attached!

Here’s a sneak peek into what this program offers:

$1,500  – a Non-Refundable / Non-Repayable Grant
No credit checks required – or minimum revenue requirements
Grant Writer Not Needed
No Restrictions on how you can use the funds
Matching Contributions are not required to be eligible

Applying to the Small Business Success Grant Program is unlike any other program currently available – as it is available to you with the bare minimum in requirements and eligibility.

WANT TO LEARN MORE?

Finding Government Funding For Your Small Business

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SBSG Program Eligibility Criteria

To qualify for the Small Business Success Grant, you must meet the following criteria:

Your Location:

Your business must be located in British Columbia.

Business Age:

Your business should be less than 1 year old – from the registration date.

Revenue:

Your business should have generated no more than $10,000 in revenue since its inception

Registration:

Your business registration process should be completed. This can be done via federal or provincial incorporation or a Canadian resident sole proprietorship.

Documents:

You must provide a complete business plan and PitchDeck presentation to be considered.

Membership:

You must have a valid membership with British Columbia Startups, which you register for here – or submit a $20 application if you are a non-member.

Securing a grant can significantly boost your business’ potential by providing the much-needed capital to move your startup forward.
Whether it’s for purchasing essential equipment, funding marketing efforts, managing cash flow, or covering payroll, the grant can cater to various needs.

The Small Business Success Grant provides an excellent opportunity for Canadian entrepreneurs. Unlike other grant programs, there are no
strings attached. You can use the funds as you see fit to drive your business growth.

Application Process

To start the application process for the Small Business Success Grant offered by SBSG.ca, complete the initial form found on the website to put in the request. Shortly after, the application steps will be emailed to you.

Along with your completed application form, compile all the necessary documents and information and submit your application before the deadline presented on sbsg.ca

Remember, providing accurate information and a well-prepared business plan is essential to increase your chances of receiving the grant. The application process is straightforward, and no professional grant writer is needed.

Good luck with your application!

Frequently Asked Questions

What is the Small Business Success Grant?

The Small Business Success Grant is a funding program offered by Canada Startups, providing up to $1,500 in non-refundable funds to new, for-profit, privately-owned businesses in British Columbia.

Who can apply for the grant?

To be eligible for this grant, your business must be less than a year old, located in British Columbia, have an annual revenue of no more than $10,000, and be either federally or provincially incorporated or a Canadian resident sole proprietorship.

How can I use the grant funds?

The grant money can be used for any business-related expense, including purchasing equipment, marketing and advertising, managing cash flow, covering payroll, and more. There are no restrictions on how you can spend the funds

Do I need to have good credit to apply for the grant?

No, a credit check is not required for the application. This grant program aims to support new businesses and does not require a credit check or a minimum revenue requirement.

Do I need to hire a grant writer to apply?

No, you do not need to hire a grant writer. The application process for the Small Business Success Grant is simple and straightforward.

When is the application deadline?

The next deadline to submit applications for the Small Business Success Grant program is September 8th, 2023.

How competitive is this grant?

Grants are generally competitive, as they are a popular form of funding, especially for new businesses. However, the exact level of competition varies based on the number of applications received during each application period.

Do I have to repay the grant?

No, the grant is non-refundable, meaning you do not have to repay the money

How can I apply for the grant?

To apply for the grant, you need to complete and submit the application form, along with the required documents and information, on the British Columbia Startups website before the application deadline.

Can I apply for the grant if my business is not incorporated?

Yes, you can apply if you are a Canadian resident sole proprietor. However, the business registration process must be completed.

Application Checklist

It is always a good idea to follow a checklist to determine that you have all that you need to successfully apply for the grant program.

Before you start, it is essential to confirm the following:

  1. Is your business located in British Columbia?
  2. Is your business less than 1 year old?
  3. Ensure you have under $10,000 in revenue
  4. Your business must be registered
  5. Have your valid membership to B.C. Startups (or be prepared to pay the $20 application processing fee)

In terms of the documentation required to apply; you must have your 3-year financial statements and proper business plan – ensure this is reviewed by an expert and given the go-ahead. Be sure to have your PitchDeck presentation ready to go, and approved by an expert. If you have a website, ensure it is reviewed by an expert to evaluate and increase your chances of success with the Small Business Success Grant. For added security, you can register as a member of B.C. Startups here: www.bcstartups.org/purchase – to ensure you can get expert help with your business plan, financials, pitch deck, funding search, and application steps.

Funding

Employment Grants in British Columbia for Hiring Students/Apprenticeships

In Canada, there are various employment grants available to assist businesses in hiring students and apprentices. These grants not only provide financial support but also contribute to the development of a skilled workforce. In this article, we will explore the different employment grants available in Canada for hiring students and apprentices, and how they can benefit businesses in British Columbia.

Canada Summer Jobs Program (CSJP)

The Canada Summer Jobs Program is an initiative by the federal government that provides funding to employers to create job opportunities for students during the summer months. The program aims to help students gain valuable work experience and develop essential skills. As an employer in British Columbia, you can receive a wage subsidy of up to 50% for hiring eligible students. This grant can significantly reduce the financial burden of hiring summer employees for your business.

Apprentice Job Creation Tax Credit (AJCTC)

The Apprentice Job Creation Tax Credit is a federal tax credit available to employers who hire apprentices in designated Red Seal trades. As an employer in British Columbia, you can claim a tax credit of 10% of the wages paid to eligible apprentices, up to a maximum of $2,000 per apprentice per year. This tax credit not only encourages businesses to hire apprentices but also supports the growth of skilled trades in the province.

Youth Employment and Skills Strategy (YESS)

The Youth Employment and Skills Strategy is a joint initiative by the federal and provincial governments that aims to provide employment opportunities for young Canadians. Under this program, employers in British Columbia can access funding to hire students and youth aged 15 to 30 for full-time, part-time, or summer positions. The funding is available to businesses in various sectors and supports initiatives that enhance employability and skills development.

BC Employer Training Grant (ETG)

The BC Employer Training Grant is a provincial program that provides financial support to employers for employee training. While not directly focused on hiring students or apprentices, this grant can be beneficial for businesses looking to upskill their existing workforce or provide training opportunities to new recruits. By investing in training, businesses can attract and retain skilled employees, leading to increased productivity and growth.

Canada Apprentice Loan

The Canada Apprentice Loan is a federal program that offers interest-free loans to apprentices registered in Red Seal trades. This loan can assist apprentices in covering the cost of books, equipment, and living expenses while they are completing their training. As an employer in British Columbia, understanding and promoting the availability of this loan can attract more apprentices to your business and contribute to their success throughout their training journey.

Work-Integrated Learning (WIL) Grants

Work-Integrated Learning Grants are offered by various provincial and federal funding agencies to support employers in providing experiential learning opportunities to students. These grants can cover a portion of the student’s salary during their work term with your business. By participating in work-integrated learning programs, businesses can benefit from fresh perspectives, innovative ideas, and potential long-term hires.

Taking advantage of employment grants in Canada can be a valuable strategy for businesses in British Columbia looking to hire students and apprentices. Access to financial support not only reduces costs but also encourages the development of a skilled workforce. By utilizing programs like the Canada Summer Jobs Program, Apprentice Job Creation Tax Credit, Youth Employment and Skills Strategy, BC Employer Training Grant, Canada Apprentice Loan, and Work-Integrated Learning Grants, businesses can leverage these opportunities to build a capable and motivated team while contributing to the growth of the local economy.

Explore the potential of governmental funding for your enterprise! Enroll in our Funding Database and obtain immediate access to over 1500 entrepreneur-focused funding programs specific to BC. This powerful resource can equip you with the necessary information to secure and capitalize on available grants, facilitating your business growth.

Funding

How to Apply for Government Grants in BC

It can be difficult to apply for government grants if you’ve never done it before.

However, there is no cause for alarm!

Here, you’ll find a step-by-step approach to securing the capital your company need for success.

To begin, you must determine which federal funding initiatives you qualify for.

If you own a business in British Columbia, you may qualify for one of the many grants and programs offered by the provincial government.

Spend some time researching the many business grants and programs offered by the provincial government of BC to determine which ones are the greatest fit for your company’s needs.

Examples of popular sources of financing are:

Government Grants:

Money from the government is given to private companies, nonprofits, and individuals to assist them meet a specific need.

Research and development, extending into new markets, and product creation are all examples of such aims.

Applicants for government grants are usually evaluated on the basis of their demonstrated merit, or ability to benefit from the grant money.

The various grant categories are as follows:

Non repayable government grants are one of the most common types of grants available.

These grants are given to businesses or individuals without the expectation of repayment, meaning that you don’t have to pay the money back once you receive it.

There are a few different types of non repayable government grants, including:

Grants for small businesses:

Government grants are available to help new and existing small enterprises get off the ground.
These funds can be put toward a number of different endeavours, including the acquisition of new tools or the hire of additional staff.

Grants for research and development: Grants for research and development are offered to businesses that are looking to conduct innovative research and develop new products or services.

This type of grant can be used to cover the costs of conducting research, such as hiring consultants or purchasing lab equipment.

Grants for women entrepreneurs: Women business owners can apply for grants to help them get started or expand their businesses. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

Grants for Indigenous entrepreneurs: Natives, Inuit, and Métis business owners who are just getting started or looking to expand their operations can apply for one of many available grants for Indigenous entrepreneurs. These grants can be put toward a wide range of activities, including but not limited to the following: establishing a new company, increasing production capacity, or traveling to and participating in professional development seminars for business owners.

In addition to these, there are startup grants, business expansion grants and skills training grants.

One time and renewable government grants are another type of grant that is available.

One time grants are typically awarded for a specific project or purpose, and are not renewable once they have been used up.

On the other hand, renewable grants are ongoing and can be used for a variety of purposes over an extended period of time.

The most common type of renewable grant is a operating grant, which is given to businesses on an annual basis to help cover the costs of running their business.

Partial contribution grants are another type of grant that is available.

Partial contribution grants are typically given to businesses or individuals who are unable to fully cover the costs of a project on their own.

The BC government will partially fund the project, and the business or individual will be responsible for covering the rest of the costs.

Matching grants are another type of grant that is available.

Matching grants are typically given to businesses or individuals who are able to raise a certain amount of money on their own.

The British Columbia government will then match the funds that have been raised, and the business or individual will be responsible for covering the rest of the costs.

Government Loans

Loans from the government are essentially loans from the government to private companies or people.

These loans are preferred by businesses because their interest rates are cheaper than those offered by banks.

Several distinct varieties of federal loans exist, including:

Loans for small businesses: these financing options exist to help established enterprises with limited resources grow. New machinery or personnel are only two examples of how these loans might be put to good use.

Startup loans: Lending assistance is available for new firms in the form of startup loans.
Loans of this type might be put for things like business permits and first advertising costs.

Business expansion loans: Loans for business expansion are available for companies who want to grow their operations. These loans can be used to pay for everything from the lease on a larger office to the salaries of new employees.

Skills training loans: Skills training loans are offered to businesses that are looking to provide training for their employees. These loans can be used to cover the costs of training, such as hiring instructors or purchasing educational materials.

In addition to these, there are also loans for specific business sectors, such as agriculture, tourism, and manufacturing.

Remember that government loans can often come in the form of no interest, or low-interest options, as well as government-guaranteed loans.

Government loan programs typically have more flexible eligibility requirements than traditional bank loans, making them a more accessible option for businesses.

The next step

After determining which government funding options are right for, be it a government grant or a government loan it’s time to start preparing your application.

The most important part of your application will be your business plan.

This is your opportunity to sell the government on why your business is worth investing in. Make sure to include detailed information on your business model, target market, and financial projections. If you have any existing customers or clients, be sure to mention them as well!

A good tool to use to develop your business plan is the business plan builder tool. It is created to guide you step by step based on what BC government funding agencies want to see.

Once you’ve assembled all of the required documentation, it’s time to submit your application.

The best way to do this is online, through the government’s official website. You’ll need to create an account and fill out all of the necessary information before you can submit your application.

As each funding program/applicaton may have a different application method – be sure to work with an expert to get help with the process.

Applying for government grants can seem like a daunting task, but it doesn’t have to be! By following this simple guide, you’ll be well on your way to getting the funding your business needs to grow and succeed. good luck!

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