CanExport SMEs provides funding to small and medium sized companies to help with international marketing activities. The program’s main objective is to promote current goods and services in international markets via exporting them. The program is run by the Canadian Trade Commissioner Service (TCS), Global Affairs Canada in collaboration with the National Research Council of Canada’’s Industrial Research Assistance Program (NRC IRAP).
Type of Funding Available
The program is funding 50% of eligible costs for $10,000 to $50,000 in funding per project. The remaining 50% of eligible project costs must be covered by the applicant. A maximum of $99,999 in financing is available to companies every government fiscal year (April 1st – March 31st). Companies can only have one active project at a time, companies can reapply for funding within the same year once a project is complete.
Cost-sharing between the recipient and CanExport SME is how funding is given, occurring through either a grant or contribution. A minimum project budget of $20,000 and a maximum project budget of $100,000 are acceptable for the applicant.
Funding for a group of connected enterprises is limited to $200,000 every government fiscal year. In addition, total assistance from the Canadian government may not surpass 75%.
Eligible Applicants
- For- profit small and medium-sized businesses
- Must be an incorporated legal entity, limited liability partnership (LLP) or cooperative
- Must have an active Canada Revenue Agency business number
- Must employ fewer than 500 full-time equivalent employees
- Must have $100,000 to $100 million in declared revenue in Canada during its last complete tax reporting year (or 12 months for monthly and quarterly filers)
Eligible Activities
- Travel & accommodation costs (max 2 travelers per trip: employee or owner of the company)
- Registration and participation fees at trade fairs (max 2 travelers per event)
- Marketing and Translation
– Costs tied to online advertising on social media platforms, online marketplaces, and search engines. - Interpretation Services
- Contractual Agreements
- Intellectual Property Protection
- Certification in international markets
- Consultant services (business, tax, legal advice, market research, feasibility studies)
Funding applicants for activities that require travelling should ensure that the planned destination travel advisory risk levels allow for travel activities to take place, before applying. CanExport SMEs reserves the right to deny travel funding requests for any reason, at their sole and absolute discretion.
Project Timeline:
Applications are being accepted from February 29, 2024, at 9AM EST, to May 31, 2024, at 5PM EDT for projects beginning on or after April 1, 2024.
Applications are processed on a first-come, first-served basis until all funds are allocated. Contact EVAMAX today to get started on your application!
References:
CanExport SMEs Program: Applicant’s guide (tradecommissioner.gc.ca)
How to apply for CanExport SMEs (tradecommissioner.gc.ca)
