Start Up Business Grants Ontario – As a small business in Toronto, starting 2022 post-pandemic is no easy task. However, with the pandemic behind us, the City of Toronto as well as the Province of Ontario with the support of the federal government of Canada have created a number of small business grants to help with the recovery.
Many of these available small business grants for 2022 are not related to COVID, but to ongoing government support from the local government of Toronto, the provincial government of Ontario and various federal agencies.
Start Up Business Grants Ontario
These financing options, although many are small business grants, can also come in the form of government loans, tax credits, tax credits, and assistance options.
Ontario Small Business Grants And Resources For Start Ups
The City of Toronto has a number of small business grant and funding programs that help Toronto and GTA businesses succeed.
Although grants often mean non-repayable funding that the government can offer, it’s important to know that there are different types of government grants.
Knowing the different types of government small business grants is critical to making sure you can choose the best financing option for your small business.
These 3 types of government grants are often the most popular and most commonly offered grant options in Toronto.
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The City of Toronto has several small business grants that are available to entrepreneurs looking to start or expand their business. These government subsidies come in the form of a small business grant.
This means that the money you get from Toronto government agencies is money you can use for your small business, but you don’t have to pay it back.
Government grants can be used for a variety of funding purposes, but there are certain criteria that small businesses must meet to be eligible for the grant options.
To see all available non-repayable government grants, consider using the funding database made available to Ontarians on the Ontario Startups platform.
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Another popular type of government grant programs in 2022 that many small businesses in Toronto are already using include the one-time and renewable government grants.
These grant options are also considered non-repayable options, but the reason for the name ‘one-off and renewable’ is because these grants are often there to fund a specific objective your business has – either on a one-off or permanent basis.
Most of these types of grants are hiring, wage support options, continuing education for employees…etc. – as they may happen in business.
While not everyone qualifies for a one-off or renewable government grant, to make sure you can apply, it’s a good idea to determine what your funding needs are in the first place as a first step. Once this is done, it is key to understand what each of the funding agencies providing the one-off options actually focuses on – and to follow suit.
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Partial government grants are another popular form of government grants that the City of Toronto and the Province of Ontario are very keen to offer small business owners.
Similar to non-repayable government grants, partial grants are free money that comes from the government to a small business owner to be used for various start-up funding needs.
However, the partial component of the grant is that the government provides a certain percentage of the required funds, while you as the business owner must come up with the rest.
In some cases, partial grants may require an 80/20% rule; while in some cases it may be 50/50 or similar.
Grants And Funding For Small Business & Entrepreneurs
If you as a small business owner are unable to find funding, you will most likely not be eligible for this type of financing option.
To see all government grants for small businesses in Toronto, consider using the funding database provided by Ontario Startups.
With the various small business grants available from the Government of Toronto, you may be asking yourself “is my business eligible” and if so “what can you actually use government grants for”?
If you are starting a small business in Toronto or the GTA, you may be eligible for these grant options.
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Most of the government grants that are given out are based on a number of factors. These factors vary, but your location, industry and your specific financing needs are considered the most important.
The majority of funding options help with training costs, staffing, payroll, going green and are used to benefit a business that has a larger purpose or that serves more than the business itself, such as the community , in which the business is located, or the economy that the business supports.
To determine which government grant your Toronto small business may qualify for, contact an Ontario Startups small business expert to get a shortlist.
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Small Business Government Grants In Canada
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A business plan is the key to a successful business, as well as the way to get government funding
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Scroll down to see your personal startup assessment report and find out what you need to launch in 30 days.
Startup Portal is a simple and complete platform for starting your own small business. Developed by entrepreneurs and consultants, it contains the tools and resources needed to take your idea from dream to
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