Top 5 Grants for Small Business Owners in Ontario
Starting and running a small business can be a daunting task. With limited resources and a competitive market, small business owners often look for ways to get funding for their business. Fortunately, the government of Ontario offers grants for small business owners to help them achieve their goals. In this article, we will discuss the top 5 grants for small business owners in Ontario.
1. Ontario Small Business Support Grant
The Ontario Small Business Support Grant is designed to help small businesses negatively affected by COVID-19. It offers up to $20,000 in grants for small businesses that were required to shut down or significantly restrict services due to the pandemic. To be eligible for this grant, your business must have a minimum revenue loss of 20% and employ less than 100 employees.
2. Eastern Ontario Development Fund
The Eastern Ontario Development Fund is a grant program that offers funding for businesses to expand or establish operations in Eastern Ontario. This fund is available for businesses in a variety of sectors, including manufacturing, food processing, and tourism. The grant can fund up to 15% of eligible project costs, with a maximum of $1.5 million.
3. Starter Company Plus
Starter Company Plus offers training, mentorship, and funding to help entrepreneurs start or grow their businesses. This grant is available to individuals who are starting a new business or have been in business for less than one year. It offers up to $5,000 in funding to cover expenses such as marketing, rent, and inventory.
4. Southwestern Ontario Development Fund
The Southwestern Ontario Development Fund is a grant program that offers funding for businesses to expand or establish operations in the Southwestern Ontario region. This grant is available for businesses in a variety of sectors, including advanced manufacturing, food processing, and life sciences. The grant can fund up to 15% of eligible project costs, with a maximum of $1.5 million.
5. Canada Ontario Job Grant
The Canada Ontario Job Grant is a grant program that offers funding for training programs for employees to help them gain new skills. This grant is available for small to medium-sized businesses in a variety of sectors, including manufacturing, information technology, and transportation. The grant can fund up to two-thirds of eligible training costs, with a maximum of $10,000 per employee.
In conclusion, the government of Ontario offers a variety of grants to small business owners to help them achieve their goals. The grants mentioned above are just a few examples of the funding opportunities available. Small business owners should explore all available grants to find the one that best suits their needs. These grants can make a big difference in the success of their business.
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