Can people in Ontario get free money from the government for their small business?

Over the last few weeks, this is one of the questions that has been popping up very often. Can people in Ontario get free money from the government for their small business?

The answer to that question is Yes, however dependant on a number of factors.

The Canadian government hands out billions of dollars in funding for small business owners all across Canada, including in the province of Ontario. In fact there are hundreds of government grant, loan and financial assistance programs dedicated to helping small business owners startup and expand. As well as funding programs for Ontario small businesses who are looking to obtain free money to purchase equipment, hire staff, provide staff training and even do marketing/advertising.

One thing to keep in mind is that not all government money is “free money”, as some does have to be paid back. The money that has to be paid back are often loans, which can be low interest or no interest, or even government backed loans offered by the banks. The free money you may be referring to are typically grants, but even grants sometimes come with a catch. Grants can come in various forms; free money, partially repayable and contributions.

Free money grants and typically the ones you want. However are the hardest to get. Then you have the partially repayable grants which the government of Ontario, or the government of Canada can give to you based on certain conditions (you can learn about these conditions by contacting various funding agencies). The last you have the contribution grants. These grants are typically offered to small business owners who invest their own money into the business, and the government matches. For example, if you are starting a small business in Ontario, the government of Ontario and certain funding agencies may provide you with $10,000 towards your business, considering that you invest $10,000 of your own funds.

Either way, free money from the government of Ontario for your small business is available. A little bit of research and dedication and you surely are to find it. You can even give our Funding Database a try and see which government of Ontario funding programs you may be eligible for, and view potential private funding options for starting a small business in Ontario as well.