Daily Q&A: What can government funding be used towards?
Category: Business Advice
Tags: Government Funding, government funding uses, government loans
Today’s question of the day is: What can government funding be used towards?
Another great question that seems to never have enough answers. For this answer we turned to a number of government grant and loan recipients who we’ve been able to assist in locating the right programs. We asked them the exact question and their answers paraphrased is below.
There is no simple answer for what government funding can be used for. Why? Well, there are many general reasons why an entrepreneur may want to obtain funding. Every situation is different.
The government of Canada has hundreds of programs for various funding purposes which they outline themselves. You can get government funding to help you start a small business, to expand your business, conduct research and development studies, to improve or invent a product or service, to hire staff, train your employees, pay for marketing ads, to help pay your wages while you build your business up, to help you with cash flow, allow you money to create a professional business plan, to purchase tools and land, to renovate..etc the list goes on and on.
Reality is though, most entrepreneurs fit into the above mentioned financing needs, but all in their own unique ways and situations.
Funding is available, and can be used for nearly anything that can help your small business succeed, create jobs and fund the economy further.
Hopefully this answered your question about what you can use government funding towards? Tune in tomorrow for another daily Q&A.
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