How to Get a Small Business Grant in Canada

Obtaining grant for small businesses often proves to be a difficult task however, there are still some people who believe in entrepreneurs and provide them with the necessary funding. There is a small difference between loan and grant which is also one of the main reasons why entrepreneurs go for grants. When taking a loan, the user suffers from accrued interest and pay back terms whereas in grant neither the user has to pay interest nor he has to worry about the profit sharing after all his hard work.

Instructions

  • 1

    Check if you are any interest group

    People give grants to special interest groups more often as compared to other businesses. If your business falls in any type of special interest group then you have a greater chance of availing a small business grant. You should know that the Canadian administrations offers grant to specific regions, business sectors, minorities and people of certain ages.

  • 2

    Highlight what your business contributes for the betterment of province or country

    You must highlight what your business contributes for the betterment of a particular province or country. Small business owners often attract the attention of the investors but if they start emphasising the benefits that the country is going to enjoy if their business flourishes, it is more likely to help them get a grant for their business. Not to mention, the organisation or investors who offer grant to small business owners are always looking for the long term planning and the benefits that the country is going to enjoy with these businesses.

  • 3

    Contact the relevant person

    In order to be more persuasive, you must try to contact and convince the relevant person. A grant administrator is someone who informs the potential candidates about the terms and conditions of grant. You must try to get a chance of meeting this person and convince him to review your application and seek suggestions in order to enhance your chances.

  • 4

    Make a sound business plan and presentations

    A sound business plan is the basis of a successful business, thus it is of significant importance that you make a wonderful business plan and present it to the grant administrators in a wonderful manner.

  • 5

    Keep trying

    If you fail to avail the grant then you must not lose hope and keep trying. You should take into consideration the suggestions of grant administrators and other organisations and improve your business plan.

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