Canada’s Boost Your Business Technology Program

Canada’s Boost Your Business Technology Program

The importance of technology can’t be overstated. In 2020, according to Statistics Canada, over 80 percent of Canadians shopped online. Now while the pandemic certainly played a factor, that number still shows the overwhelming majority of individuals rely on using the internet to buy things. That’s just one proponent of it. Innovation, Science and Economic Development Canada want to give businesses the tools to be successful, which is why they’ve created two programs. One, Grow Your Business Online, is no longer open, but another program, Boost Your Business Technology program, has been created for businesses with fewer than 500 employees and will help prepare those organizations for the present and future by equipping them with digital adoption plans. These plans will assist them to increase their competitiveness in this ever-changing world.

What is the Program?

This program offers financial support for small and medium-sized enterprises to adopt new technologies. Support will be granted through offsetting the cost of retaining Digital Advisors who will develop Digital Adoption Plans uniquely designed to fit in the business.

Who is Eligible?

For-profit, privately owned business with fewer than 500 full-time employees. Businesses must have at least $500,000 of annual revenues in one of the previous three tax years. Example businesses include small manufacturing and food processing operations.

What is the Award Amount?

Boost Your Business Technology grant will be up to 90 percent of the eligible costs, up to a maximum grant value of $15,000, which includes applicable taxes.

What is Eligible under the Program?

These costs by the applicant are directly tied with retaining a registered Digital Advisor and for the direct production of a Digital Adoption Plan for the applicant. Some eligible costs include fees, commissions and charges by organizations providing Digital Advisory services and registered on the Digital Advisor Marketplace website for the production of a Digital Adoption Plan and applicable federal and/or provincial sales taxes applied to the fees and commissions charged by the Digital Advisors listed on the Digital Advisor Marketplace and only for the purpose of producing a Digital Adoption Plan for the funding recipient.

How to Apply?

The following steps are required to apply:

  1. Choose a sign-in option (Sign in with a GCKey or your online banking information with one of Innovation, Science and Economic Development Canada’s Sign-In Partners
  2. Create profile (first and last name and a valid email address
  3. Verify identity

What is the Deadline?

Applications can be submitted at any time, although it’s best to apply as soon as you’re ready.

Where Can I Learn More information?

https://www.ic.gc.ca/eic/site/152.nsf/eng/00013.html

Leave A Comment