How do I get funding for my small business?
How do I get funding for my small business?
Starting a small business in Canada is tough work. Not everyone is cut out for it especially if you’re lacking the funding you need to startup.
One of the questions we here at Canada Startups often get asked is how do I get funding for my small business?
Funding is available from various sources. It can come from:
- Personal savings
- Family and friends
- Credit cards, lines of credit..etc
- Private Investors
- Government funding agencies
Whichever way you look, if you need funding for your small business in Canada, one of the first things you should do is develop a business plan.
A business plan should clearly outline your business, what you intend to do, how you will make money and always do the financials. You have to see how viable the business model is.
If you’re leaning towards government funding options for your small business keep in mind that there are different types of government funding programs.Â
Government Loans
- Low-Interest or No-Interest Loans
- Government Guaranteed Loans or Government Backed Loans
Grants and subsidies
- Non Repayable Grants
- One Time and Renewable
- Conditionally Repayable Grant
Tax breaks
- Tax Refunds
- Tax Credits
- Tax Benefits
Business advantages
- Government Insurance Against Business Risks
- Government Relocation Incentives
- Government Information & Services
- Access to Resources
Whichever options you are to consider for your small business keep in mind that our experts can assist you with your funding search.
Give our small business experts a call to discuss how your business can get funding at 1-800-288-9691
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