Business start-up assistance in Canada: grants and financing
Federal programs
- Canada Small Business Financing Program: loans through financial institutions partly guaranteed by the government;
- BDC: start-up loans and advice;
- Futurpreneur: financing and mentoring for entrepreneurs aged 18 to 39;
- regional development agencies (Canada Economic Development for Quebec Regions);
- Industrial Research Assistance Program (IRAP) for innovation;
- SR&ED tax credits for research and development.
Quebec programs
- Investissement Québec: loans, guarantees and capital;
- local investment funds of the MRCs and regional funds (FLI, FLS);
- PME MTL in Montreal;
- Quebec tax credits (e-business, multimedia, R&D).
Applying successfully
Prepare a solid business plan and financial forecasts, check eligibility criteria (sector, location, stage of development), respect deadlines and keep supporting documents: grants generally impose reporting obligations and may have to be repaid if conditions are not met.
