Starting and running a business can be challenging financially if you don’t have the savings you need or don’t know where to look for financial help. Thankfully, there are a number of initiatives specifically for Canadian businesses to help you get off the ground or keep your business going during difficult times.
4 Places You Can Get Financial Help for Your Business
It can be hard to know where to look for financing for your business thanks to numerous online scams. Here are four legitimate sites you can check to see if your business qualifies for any of their funding or programs.
Financial Help from the Government of Canada
The federal government has a number of programs available to help you with your business. Some are loans, some are training opportunities, and some are grants or tax credits and deductions. You can use their new Business Benefits Finder to discover all the options available to your business.
The Business Benefits Finder is a great tool, because, not only does it help you find financial help for your business, but it also lets you know about other opportunities available to you such as important updates regarding COVID-19 benefits.
Depending on where your business is located, you may be eligible for provincial funding and programs. While the Government of Canada’s Business Benefits Finder does include options from provincial governments, here are a few direct links to check out.
Community Futures Network of Canada is a non-profit organization providing small business services to people in rural communities across Canada. Because they use an alternate lending criteria compared to banks, Community Futures can be a great alternative if you’ve already applied for a business bank loan and been turned down.
Community Futures is funded by the Government of Canada through Western Economic Diversification Canada, and in addition to financing, Community Futures offices also provide access to business seminars and networking events.
Business Development Bank of Canada
The Business Development Bank of Canada (BDC) supports small and medium-sized Canadian businesses through financing, advisory services and capital. They have a number of free tools you can use to see what services and funding is available to you.
Chances are your search for financial help for your business will lead you online. When searching for resources, as with anything online, make sure they are legit. If it sounds too good to be true, it usually is. If a website includes tons of ads and pop-ups, that’s often a sign it’s not a legitimate site.
You will find additional, reputable sources of help for your business at the sites above. There are currently a number of COVID-19 initiatives available to businesses as well. You can view the latest Government of Canada programs for businesses affected by COVID-19 here.
If you’re looking for some financial help for your business, but you aren’t sure where to look, we can help. Apply for funding can be confusing, we can also help with that. Fill out this form to schedule a complimentary call.