The Government of Canada has several programs to help companies achieve various business goals, including expansion to international markets and generation of export revenue. This is the core value of the CanExport grant, one of the more popular grants in the country.

This article will try to provide all the essential details you should know about CanExport. If you need more information, you can talk to funding specialists from EVAMAX.

EVAMAX is one of the industry leaders in identifying and maximizing government grants for businesses across Canada.

What is the CanExport Grant?

CanExport is a government grant that provides financial aid and advisory services to help SMEs across Canada explore business development opportunities abroad.

It is designed for Canadian businesses to increase their presence in currently underdeveloped global markets.

For a foreign market to be considered viable, the sales generated in it by the applicant for the past 24 months must not exceed $100,000 or 10% of their total sales.

How Did COVID-19 Affect Its Implementation?

Grants involving travel are suspended for the time being. This includes trade shows, trade missions, and all visits to foreign markets. Support for these events will resume once travel restrictions are lifted.

If you have paid for an approved event and could not get a refund from the organizers, 75% of it will be reimbursed by CanExport SMEs.

If instead of a refund, the organizers offer credit for other events in the future, you can still claim this expense.

The COVID-19 situation is very fluid and could change at any given time. For the latest updates on CanExport and other government grants, you can reach out to EVAMAX.

Who Manages CanExport?

The program is managed by the Trade Commissioner Service (TCS) of Global Affairs Canada and the Industrial Research Assistance Program (IRAP).

The combined expertise of the two agencies allows them to deliver a wide range of services. This includes identifying all potential markets, international business partnerships, and opportunities that you would not think possible.

What Are the Sub-Programs and Their Funding Amounts?

CanExport SMEs is the most popular stream under the program. It offers up to $75,000 to eligible SMEs with export market development projects.

The Innovation stream targets small businesses focused on R&D rather than export opportunities. It enables participants to work with foreign partners in developing, adopting, and commercializing new technologies. It also offers up to $75,000 to qualified businesses.

The Associations stream is designed to help national trade organizations in creating business opportunities overseas for their members. Qualified organizations can get financial support to cover 75% of project costs to a maximum of $400,000.

Lastly, the Community Investments stream is open to Canadian communities looking to attract, expand, or retain foreign direct investments. It offers $3,000 to $500,000 for qualified projects, which can be used to cover up to 50% of eligible costs.

What is the Eligibility Criteria for Applicants?

The SMEs stream is open to for-profit companies with no more than 500 full-time employees and revenue of $100,000 to $100 million for the past fiscal year.

The Innovation stream accepts proposals from SMEs, academic institutions, and research centers. Applicants must fully or partially own the IP rights to a Level 4-ready prototype technology that can be launched within five years.

The Associations stream targets Canada’s trade organizations, business councils, and multi-sectoral organizations that are not profit-oriented.

The Community Investments stream is open to Canadian communities and non-profit indigenous organizations that are incorporated locally or federally.

What Activities Are Eligible Under the Program?

In light of the ongoing global pandemic, CanExport funding is limited to the following non-travel development activities:

• Gathering studies, reports, custom market research, and other forms of market intelligence
• Applying for IP protection internationally
• Applying for international market certification
• Fees for legal and business advice
• Launching an SEO campaign
• Translation or creation of marketing tools and materials
• Joining virtual trade shows, meetings, and networking events

Once it is safe to travel, support for international trade missions, foreign market visits, and other in-person events will resume.

How to Apply?

Here is a step-by-step guide on how to approach the application process:
1. Look for five potential export markets. Remember that the revenue you generated in this market for the past 24 months must not exceed $100,000 or 10% of your total sales.
2. Identify potential customers, trade shows, and other events available.
3. Determine the related expenditures such as promotional materials and registration fees. You must be able to show that these costs could generate sales in the target markets.
4. Prepare an outline for your export strategy, estimated budget, and proposed timelines.
5. Access the application forms online. These forms are eight to twelve pages long, not including the supporting documents.
6. Complete the application forms and other requirements, then submit them online. The time it takes to finish the application process depends on the export market readiness.

When Should You Start the Application Process?

Expenses incurred before the approval of the project would not be considered for funding, so it is important to start the application process early. Three months of lead time prior to the planned start date is recommended, especially for the SMEs stream, which is extremely popular.

When is the Deadline for Application?

The CanExport funding program has a continuous intake, so you can apply whenever you are able. Just take into account the lead time recommended when looking for a project.

How Long Does It Take for a Decision to Be Made?

The time it takes to process an application varies, but it could take up to 60 business days. If the application is not eligible, an email is sent explaining the reasons why the project could not be considered. Otherwise, you will be sent an approval and asked to sign a Contribution Agreement.

When Will the Funding Be Given?

Applicants must submit the claim immediately after the completion of the project, as outlined in the Contribution Agreement. It normally takes up to 20 days for claims to be processed.

Receipts are not required when claiming unless specified, but the applicant must keep them and maintain a record of expenses for the duration of the agreement.

What Are the Expectations for Qualified Applicants?

Once a project is approved and the Contribution Agreement signed, you will be responsible for submitting expense claims for the project. You will also be asked to submit detailed reports about the project’s progress.

Every year for three years after project completion, you need to submit a report describing how the project enabled your business to make an impact on Canada’s economy.

Can You Apply for CanExport Even If You Have Other Funding Sources?

You can apply for CanExport on top of other funding sources, but the maximum government assistance for any given project would not exceed 75% of the total cost.

Can You Submit Multiple CanExport Applications?

Companies can submit several funding applications, but the initial project must be finished before more export market development grants will be given.

Are you ready to explore business opportunities overseas? Call EVAMAX today and maximize your chances of submitting a successful CanExport application.


Technology has been evolving ever since man first learned to use stones as tools, but never has it seen such rapid development as it did in recent years.

Today, the world is in the 4th industrial revolution, a time dominated by artificial intelligence (AI), the Internet of Things (IoT), robotics, aeronautics, and other innovative industries.

Not only have the rules changed – we are now playing an entirely different game. And businesses that fail to keep up with the changing times will either fall behind or completely disappear into obscurity and irrelevance.

In Canada, as with the rest of the world, it is crucial for companies to recognize upcoming technological trends. This will help them understand and leverage opportunities as they emerge.

The federal government, through the Scientific Research and Experimental Development program, is always ready to help innovative businesses reach new heights.

The SR&ED program supports research and development R&D activities with much potential for groundbreaking discoveries, much like the ones below:

SR&ED Grants Canada for Emerging AI-as-a-Service Platforms

Artificial intelligence or AI has significantly changed the business landscape. And yet, we have barely scratched the surface.

Companies all over the world are only starting to explore the impact of AI in their daily operations. It offers a wide range of benefits, from streamlining business processes to enhancing customer experience.

But as businesses are still learning to live with AI-based applications, designing and deploying them internally will still come at a hefty price.

AI platforms are currently being offered by the industry’s tech giants. But the solutions they offer are broad in scope. This means that some customization is needed. This can get very expensive.
Still, today’s businesses can enjoy the full benefits of AI, thanks to emerging AI-as-service platform providers.

The IT industry is increasingly adopting the as-a-service business model to AI applications. This allows other companies to access AI services at a more reasonable price point.

It is critical that groundbreaking developments like AI services be available to as many companies as possible. This is the only way that customer satisfaction and business optimization be achieved at a meaningful level.

To this end, the SR&ED program is offering SR&ED tax incentives to IT companies engaged in eligible AI-related projects.

Eligible Canadian-controlled private corporations or CCPCs can earn an SR&ED tax credit of up to 35% of $3 million in qualifying expenditures. This includes a wide range of expenditures, including the following:

• Salary and wages
• Materials
• Contract costs on behalf of the claimant
• Overhead costs
• Third-party payments

Aside from CCPCs, proprietorships and partnerships can apply as long as they have an eligible SR&ED project. Admission to the SR&ED program is focused on the merits of the project and not the company.

SR&ED Funding for Autonomous Driving Projects

Autonomous driving has been gaining traction since the first “truly self-driving car” came out in the 1980s. While the current scope or depth is not yet at the level portrayed in sci-fi movies, reality may not be as far behind as you think.

The year 2021 will most likely be considered as the de facto golden age of autonomous driving as Tesla is set to make its fully self-driving system available as a subscription service.
Most Tesla cars already have the standard Autopilot feature with the automatic brake, accelerate, and steer capabilities, but the new package will take things to a whole new level.

Once operational, it will allow cars to recognize road signs and traffic lights, change lanes when needed, and even park themselves.

Aside from these capabilities linked directly to driving, other in-car features will also become increasingly automated. Data capture and analytics will see a bigger role in security, entertainment, and other functions. And in addition to cars, you can expect trucking and shipping to become more autonomous.

It is becoming apparent that this emerging trend in the automotive industry is much more than just passing fancy. In time, autonomous driving will be the norm and not the exception. Businesses impacted by this development must stay ahead of the curve and explore ways to use it to their advantage.

Innovative companies with ideas on how to accelerate the deployment or utilization of autonomous driving can get a much-needed boost from SR&ED grants. Using these grants, they can pursue research and experimental development activities that could help take autonomous driving to the next level.

For a project to qualify under this tax incentive program, it must meet five basic criteria:

1. A scientific and technological uncertainty is present
2. The hypothesis formulated is designed to reduce or eliminate the uncertainty
3. The approach used is consistent with a systematic investigation or search
4. The approach leads to scientific or technological advancements
5. The hypothesis tested and the ensuing results are documented as the work progressed

With the help of the SR&ED program and other government grants, it won’t be long before autonomous driving transforms the way we travel. It will lower the costs, reduce road congestion, and make commuting less stressful. Most importantly, it will reduce CO2 emissions and improve air quality.

The SR&ED Program: Helping Canadians Utilize Renewable Energy

Another emerging trend that could benefit from the SR&ED program is the use of solar energy in Canada.

In Canada, as with the rest of the world, sustainability is no longer just a buzzword used to generate interest from curious sectors. More and more people are embracing it as way of life.

Canada is abundant in land, with plenty of available roof space. It also receives more sunlight than places like the United Kingdom and Germany. Most importantly, interest in sustainable living is at its highest.

In short, Canada is primed for an increase in uptake for rooftop solar panels.

To date, there are around 40,000 rooftop solar panels installed all over the country, which leaves a lot of room for improvement. But with various government initiatives like the SR&ED program and IRAP funding, innovative companies can find new ways to make solar energy more accessible to Canadians across the country.

The SR&ED Program for Canada’s Innovative Industries

The program offers tax incentives to offset the R&D costs of eligible SR&ED projects, helping Canadian companies optimize their research budget. It comes as a deduction from the tax payable for the current year or income tax for the future years. It can also come as an investment tax credit.

If you are engaged in research activities involving innovative technologies, you should take a close look at how you can leverage SR&ED funding. Funding specialists like EVAMAX can help you put together a viable SR&ED claim.

To know more about Canada’s government grants like the SR&ED program and IRAP funding, call us today at EVAMAX or set an obligation-free consultation through our website.

You may not know this, but the Canadian government offers a whole selection of grants for small businesses.

Your business can take advantage of these grants and programs to grow your business and projects!

Keep reading to find out how.

Federal grants your business can apply for:

  1. CanExport for Businesses (SMEs)
  • The CanExport grant program can help you expand your business globally
  • It is designed for small and medium-sized enterprises to help your business with export marketing to create business opportunities

Which activities can be funded?

  • Your small to medium enterprise can apply online for up to $75,000 that would cover 75% of your international market development expenses
  • Activities covered under the CanExport program are:
    • Market research participation in virtual trade events and fairs
    • Adaption and translation of marketing tools
    • Search engine optimization
    • Expert advice on legal, business and tax matters
    • Intellectual property protection, certification, and adaption of contracts

Who is eligible?

  • The following eligibility criteria must be met by your business:
    • Be a for profit business
    • Be an incorporated legal entity or a limited liability partnership
    • Have a CRA registered number
    • Have less than 500 full-time equivalent employees
    • Declare between $100,000 and $100 million in annual revenue in the last 12 months

How can you apply?

  • Applications can be submitted via the online platform here
  • Applicants can expect a decision within 60 days of completing an application

 

  1. Strategic Innovation Fund
  • This program offers financial support for projects that improve Canada’s innovation performance and grow your business
  • It covers four types of projects in four different streams
    • Steam 1: R&D projects that accelerate technology transfer and commercialization of innovative products
    • Stream 2: projects that facilitate the growth and expansion of firms in Canada
    • Steam 3: projects that attract and retain large scale investments in Canada
    • Stream 4: projects that advance industrial research, development, and tech demonstration through collaboration between academic, non-profits and private sector

What can be funded?

  • Non-recurring costs that are related to specified project are eligible expenses including:
    • Direct labour
    • Overhead
    • Subcontractors and consultants
    • Direct materials and equipment
    • Other direct costs

Who is eligible?

  • Any company incorporated in Canada can apply for the Strategic Innovation Fund from Streams 1 to 3
  • For Stream 4, applicants must be a consortium led by a Canadian incorporated company

How can you apply?

  • Ask yourself these questions to help prepare for your SIF application:
    • Is my project innovation-based?
    • Does my project fall within one or more program streams?
    • Can I demonstrate that my technical and management teams can successfully actualize the project?
    • Can I clearly describe the anticipated innovation, economic and public benefits of my project?
  • If you are confident of your project after the questionnaire, you can find the Statement of Interest form here

Provincial Grants:

  1. Atlantic Innovation Fund
  • This fund is dedicated to supporting the research and development of innovative technology in the Atlantic region of Canada
  • It allows private-sector research and collaborations with academic and research institutions
  • Projects eligible for this grant often focus on commercially viable technology development and adaptation

What can be funded?

  • Eligible costs include wages, salaries, capital costs and other operating expenses directly related to the project
  • AIF can aid of up to 80% of total eligible costs for projects carried out by not-for-profit organizations and up to 75% for private sector-led projects
  • The AIF supports projects in the areas of natural and applies sciences, as well as social sciences, humanities, arts, and culture that leads to successful development and commercialization of technology
  • Eligible activities include R&D projects linked to economic development in areas that are strategically important
  • Technology adaption projects
  • Related initiatives that emphasize building the Atlantic system of innovation

Who is eligible?

  • Eligible applicants include private-sector businesses, universities/colleges, non-government research organizations and provincial Crown corporations all located and operating in Atlantic Canada
  • The project must be
    • Compatible with AIF objectives
    • Be scientifically and technically sound
    • Demonstrate management capability to successfully undertake project
    • Demonstrate economic benefits for Atlantic Canada
    • Demonstrate commercialization potential
    • Support new or improved technologies
  • For additional details please click here

How can you apply?

  • The application is a two-step process
  • Step 1: Complete a Project Concept Template and submit it to an ACOA office nearest to you. Upon receipt, you will be contacted to discuss your project further
  • Step 2: Once your project has been discussed, complete and submit the Application for Financial Assistance.

Canada Ontario Job Grant (COJG)

  • The Canada Ontario Job Grant is a hiring and training grant program
  • It offers direct wage subsidy financial support for employers who wish to further train their employees
  • It is applicable to small, medium, and large businesses who want to deliver short-term training to new and existing employees

Who is eligible?

  • Individual, private, and not-for-profit employers are eligible for this grant
  • This grant is applicable to employers wishing to train either all employees or even one or two individuals
  • Additionally, employers must also:
    • Make minimum cash contribution to training costs
    • Employ individuals selected for training
    • Be licensed to operate in Ontario
    • Be training the individual for a job that is also located in Ontario
    • Comply with Health and Safety Act
    • Have adequate third-party general liability insurance
    • Comply with all applicable federal and provincial human rights legislation

How much funding can you receive?

  • The Canada Ontario Job Grant supports training costs up to $10,000 per individual
  • Additional flexibility is available for small employers
  • Employers with less than 100 employees may be eligible for $15,000 per individual

What training does this grant cover?

  • Tuition or other training provider fees
  • Textbooks, software, and other materials
  • Mandatory student fees
  • Examination fees
  • Potential travel costs (up to $500 over 24 km)

How can you apply?

  • For training grants more than 25 individuals, applications must be submitted through an online portal
  • For training grants less than 25 individuals, applications can be submitted online to a COJG service provider

You can find more information about COJG here.

For more information regarding any grant programs, please contact EVAMAX.

Canada offers multiple options for funding innovative projects. During the COVID-19 pandemic, Canada has stepped up this ability. Programs are customed to help COVID-19 pressures.

The most popular during this has been IRAP COVID funding. The program has stretched its ability to cover efforts for COVID-19 solutions.

The National Research Council’s Industrial Research Assistance Program is here to help your business. It is the country’s leading innovation assistance program.

This program offers technical and innovation advice. It also provides financial assistance and industry connections. These can help bring your idea to the market faster.

IRAP funding covers up to 80% of salaries and 50% of contractor costs. Total funding is calculated by working with an Industry Technology Advisor. The COVID-19 Challenge program is equipped with additional resources for overcoming related challenges.

You can use this funding for research projects. Here is everything you need to know about IRAP:

  1. What are the NRC IRAP programs?

IRAP Innovative Solutions Canada COVID-19 Challenge Program

  • This program post challenges asking for near-market solutions from small and medium-sized businesses.
  • This program is for businesses that require financial support to refine and sell their product to meet a COVID-19 need.
  • The IRAP program works with 8,000 businesses across Canada every year
  • It uses a network of 255 industrial technology advisors and provides over $300 million in support
  • The COVID-19 program has 3 challenges so far
    • Low-cost sensor system for COVID-19 patient monitoring
    • Point-of-care and home diagnostic kit for COVID-19
    • Made-in-Canada filtration material for the manufacture of N95 respirators and surgical masks

IRAP Innovation Assistance Program

  • This program is for businesses unable to qualify for CEWS
  • It offers a wage subsidy for up to 12 weeks
  • Is independent of other programs and current or future IRAP projects
  • For more information, click here

Small Technology Innovation Projects or Accelerated Review Process

  • This program provides grants up to $50k
  • It aims to fund R&D and help commercialize tech projects

Mid-sized Technology Innovation Projects

  • This program provides grants up to $10 million
  • These grants are focused on R&D and the development of new products etc.
  1. Are you eligible?

To qualify for IRAP, a business must:

  • Be a Canadian SME, incorporated and for-profit
  • Have 500 or less full-time employees
  • Want to grow profits through developing and innovating new technology-driven or improved products

 

  1. How can you apply?

You can contact EVAMAX today to discuss your project and your application. IRAP funding can be applied before project initiation.

Here are some things you can do to prepare your discussion

  • Project Overview
    • Overview of the project and what you propose developing
    • What problem does it solve?
  • About your business
    • An overview of your business
    • Why your business fits this effort and project
  • Financial Capability
    • Evidence that you can support the remaining salaries and costs
  • Economic Impact
    • The impacts of this project
    • How it will create revenue for your business
  • Project Plan
    • Timeline
    • Detailed phases
    • Cost estimates for each phase

 

  1. When can you apply?

IRAP funding is available year-round. The projects must be carried out during the fiscal year. This runs from April 1 to March 31 of the following year.

  1. Things to remember about IRAP
  • IRAP funding is applied for before the project and SR&ED tax credits are claimed after the project.
  • IRAP does not cover overhead costs
  • SR&ED does cover overhead costs
  • Your business might be eligible to use both SR&ED and IRAP funding for your projects

Contact EVAMAX today to see how this is possible and to learn more about SR&ED and IRAP.

The Canadian agricultural industry is huge. Federal and provincial governments provide various grants and funding options to further support it.

Here are the programs through which your business can secure funding right now.

Canadian Agricultural Partnership

  • The federal government provides support for agricultural business in Canada through the following five programs: AgriMarketing, AgriInnovate, AgriScience, AgriDiversity, AgriAssurance and AgriCompetitiveness
  • For more information regarding all five programs, contact EVAMAX for expert advice

AgriInnovate

  • AgriInnovate is a program with the federal Canadian Agricultural Partnership
  • This program provides contributions for projects that work to improve products that increase the Agri-sector competitiveness
  • It is also for projects that improve sustainability within the industry

Who is eligible?

  • All for-profit businesses that are incorporated in Canada are eligible
  • Eligible businesses must also:
    • Provide a minimum of 50% of funding towards eligible project costs
    • Ensure total requested funding does not exceed $10 million
    • Ensure combined government funding being applied does not exceed 75% of total costs

What projects are eligible?

  • Eligible projects include any that improve commercialization of innovative agriculturally based products
  • This includes technologies, processes and or services
  • The program also covers projects that work on the adoption of innovative agricultural products
  • Demonstration of innovative agricultural products and technologies are also accepted

How can you apply?

  • You can apply by following the two-step process
  • The first step is a Pre-screening that can completed by this online form
  • The second step is the application that includes the full proposal as well as supporting documentation
  • More information regarding this can be found here.

Agri Science

  • This program aims to accelerate innovation by funding pre-commercial science activities and R&D research that benefits the Canadian agriculture and agri-food sector
  • Farm owners can use these farm grants to financially support their market development efforts

Who is eligible?

  • All for-profit and not-for-profit organizations including businesses and corporations, co-operatives and Indigenous groups are eligible
  • Associations, corporations, co-operatives and Indigenous groups and other forms of not-for-profit organizations are also eligible

How can you apply?

  • This application is completed in a two-step process
  • The first stage is to complete a Project Summary form
  • Upon Summary form submission, you may be asked to submit a full application and this application should be processed within 100 business days

Agri Competitiveness

  • This program aims to help the Canadian agricultural sector leverage, coordinate, and build on existing practices while improving standards and regulatory environments
  • Funding can be used to expand capacity, expand skills and knowledge, and improve best practices

Who is eligible?

  • Eligible employers are not-for-profit organizations that operate nationally in Canada
  • This includes associations and Indigenous groups
  • Applicants must also provide a minimum of 50% funding towards eligible costs
  • Total funding for an applicant would also not exceed $1,000,000 a year

How can you apply?

  • The first step in this application process is to complete the Application forms including:
    • Executive summary
    • Signature of Applicant Authorized Representative
    • A copy of organizations Certificates or Articles of Incorporation
    • A copy of last two years financial statements
    • Project Endorsement Letters
    • Capital asset pre-approval for grants and contributions programs

Canada Job Grant (CJG)

  • The Canada Ontario Job Grant is a very valuable asset
  • It offers direct financial support for employers who wish to further train their employees
  • It is applicable to small, medium, and large businesses who want to deliver short-term training to new and existing employees

Who is eligible?

  • Individual, private, and not-for-profit employers are eligible for this grant
  • This grant is applicable to employers wishing to train either all employees or even one or two individuals
  • Additionally, employers must also:
    • Make minimum cash contribution to training costs
    • Employ individuals selected for training
    • Be licensed to operate in Ontario
    • Be training the individual for a job that is also located in Ontario
    • Comply with Health and Safety Act
    • Have adequate third-party general liability insurance
    • Comply with all applicable federal and provincial human rights legislation

How much funding can you receive?

  • The Canada Ontario Job Grant supports training costs up to $10,000 per individual
  • Additional flexibility is available for small employers
  • Employers with less than 100 employees may be eligible for $15,000 per individual

What training does this grant cover?

  • Tuition or other training provider fees
  • Textbooks, software, and other materials
  • Mandatory student fees
  • Examination fees
  • Potential travel costs (up to $500 over 24 km)

How can you apply?

  • For training grants more than 25 individuals, applications must be submitted through an online portal
  • For training grants less than 25 individuals, applications can be submitted online to a COJG service provider

You can find more information about COJG here.

EVAMAX specializes in applications for all government grants and funding. For any further questions, please contact EVAMAX.

What is business expansion?

  • A business expansion is a type of growth strategy
  • It focuses on obtaining growth by increasing number of stores in which a business can offer their services
  • This also includes increasing sales and services in existing locations
  • An expansion of business products and services is also considered a business expansion
  • The Canadian Government offers multiple grant programs to support business expansion

How can you expand?

You can expand your business by following these simple tips:

1. Consider expanding your product line

  • This may sound simple but can be game changing for your business
  • Try to expand this by first evaluating which one of your products or services is most in demand and what else your customers might like to see
  • .Then, try to estimate a price level for these new services
  • Next, determine your profit margin from these new services and see if they are viable for your business

2. Try to increase your sales

  • To expand your business your need higher sales
  • This can be achieved by either creating new services to reach new customers or increasing sales to prior customers of the business
  • You can further penetrate your existing customers by dividing them into customer segments
  • You can then cater your marketing efforts to better target each identified customer segment for your business
  • Your business can then receive more sales from existing customers

3. Expand your business to newer areas

  • To get more sales, you could also move your business to a newer area
  • This new area might be new to a service of your kind and could gain a lot of attraction
  • The new customers can be in newer market segments and different locations from your current operations
  • Expanding to newer locations might also require additional investment, keep reading to find out about our favourite expansion grants

4. Reach out to new customers

  • Your business expansion efforts can also be targeted towards newer customers
  • This can be based off demographics such as age, gender, location, interests, activities, and values

5. Expanding into new channels

  • There are multiple channels through which your business can offer its services
  • Its important to remember that internet marketing and advertisement are some of the most effective ways to market today
  • Handful of companies have reinvented their business to take advantage of these online business opportunities
  • Service providers are able to reach a broader audience and attract customers from newer areas through online marketing

6. Create a business expansion plan

  • Following the tips mentioned above, draw out a planned map for your expansion
  • Factor in your goals as well as your expansion strategy
  • Set out benchmarks and checkpoints to evaluate your expansion efforts along the way
  • Following through on an established plan can help your expansion be seamless and smooth

Here are some of our preferred business funding programs and expansion grants!

Southwestern Ontario Development Fund (SWODF)

  • This program funds and supports businesses looking to invest in new facilities and equipment
  • It provides applicants 15% of project expenses to a maximum of $500k-$5M depending on their business

Rural Economic Development Fund

  • The RED program aims to support regional economic development activities of non-profit in the rural Southern Ontario
  • The program provides between 30% and 50% of eligible expenses to a maximum of $150,000 – $250,000

Market Readiness Program

  • This specific program supports academic spin-off companies, OCE accelerator graduates and SmartStart Seed Fund awardees for early-stage commercialization activities
  • This program offers up to 50% of expenses to a maximum grant of $125,000 – $250,000

Creative Export Canada (CEC)

  • This is a government funding program that offers funding for projects that generate export revenues and help Canada Creative Industries reach more people around the world
  • It provides up to 75% of eligible expenses to a maximum of $2.5M in government non-repayable contribution

CanExport

  • CanExport supports export marketing projects including participation in trade shows and government-led trade missions
  • It provides up to 75% to a maximum of $75,000 in grants per application and $99,999 annually

AgriAssurance: SME Stream

  • AgriAssurance’s SME Stream supports implementing third-party assurance certification projects that address international market requirements and help expand export opportunities
  • It provides up to 50% to a maximum $50,00 in non-repayable (grant) funding
For more information regarding any of these grants, please contact EVAMAX.

 

The COVID-19 pandemic has created tough conditions wherein the economy is suffering.

During this pandemic, some social institutions have risen to the times. They have faced the problem head-on. They have also looked to others for help.

Everybody has innovated to find solutions during this pandemic. Governments have had to innovate the right restrictions to protect others. Businesses have had to innovate their operations to fit these restrictions. Citizens have had to innovate to fit their lives to these restrictions.

This effort has brought together the government, civil society, and the private sector. The government is working with private businesses to find solutions to their problems.

Germany held its first government hosted a hackathon for the same reason. This event produced useful solutions while aiding collaboration. Hackathons have a history of providing the best solutions. They are dynamic and flexible allowing creativity. Participants gather in a common space and form teams. They then work to create a solution to the presented problem.

Currently, these hackathons are to create solutions to social challenges. People outside of the government create challenges. The City of Toronto, NASA, NSF, and UN, etc. have all used them in the past.

The German #WeVsVirus was special due to its need and scale. Typical hackathons give three months to prepare. This event came together in just four days. The social interest in the event surprised the organizers. Almost 43,000 people signed up and 26,581 participated. These numbers helped make this event the world’s largest hackathon to date.

Organizers crowdsourced problems and existing efforts. They were able to gather 1,990 problems from people and the government. After shortlisting, 42 categories separated the 809 problems. Participants had 48 hours to create their solutions. The solutions were then entered into the platform. Additionally, they also had to create a two-minute video pitch.

This contest got over 1,494 proposals. Industry experts and officials selected 197 of the best ideas. The hackathon jury then selected the 20 best projects.

The German government also supported the effort. They did this by launching a program to develop and carry out the proposed ideas.

This hackathon helped in two ways. It helped the government find solutions. But it was also helpful for participants. Mental health has been an issue during this pandemic. It has forced people to social distance themselves from each other and isolates themselves. Out of 20,000 participants, most said they felt better after working with others on this. One said, “euphoria, positive energy and persistence with which people worked, developed ideas and created innovation”. This helped bring positive energy to a hard situation.

Some of these solutions have been rushed to use. The first happened on April 10. The federal employment agency added the winning idea to its website. The ideal was a tool to help businesses and employers apply for short-term labor grants. This lets employers reduce employees’ working hours while paying them for lost earnings. Although this tool was added to the old portal, the proposed development time was short. It took only two weeks from start to finish for the tool.

Dorothee Bär is the German State Minister for Digitization. She said, “The number of the depth of solutions is impressive. We should think about using the hackathon for other problems as well”.

In Canada, the government is working with the private sector in a similar way. The government of Canada has several labor grants in place for this pandemic. The following:

Canada Emergency Wage Subsidy
Temporary 10% Wage Subsidy
– Work Sharing Program

are all available to Canadian businesses for support. Businesses looking for credit can access the Canada Emergency Business Account.

 

Like Germany, Canada too has options for governments and businesses to collaborate. The province of Ontario has the Ontario Together effort. Ontario has some of the most innovative businesses and efforts in the nation. The government has set up a website with problems they need solutions to.

On this, a business can put forward their ideas for the issues. The province has also set up a fund to develop and put the solutions to use quickly. Ontario and the entire nation are fostering innovation through this. This promotes collaboration between the private and public sectors. Together, this can help fight the pandemic.

The Government of Canada provides other support to innovation and research as well. The most common grant is the Scientific Research and Experimental Development Tax Credit Program. Canada Revenue Agency holds this program with the government. It awards tax credits to companies working on research and development projects. Businesses get a part of their expenditures back in tax credits and refunds. This can be up to 65% of project costs. This can include labor, materials, and contractors.

EVAMAX specializes in SR&ED and other grant applications. Contact EVAMAX today to see if your projects qualify for any grants.

The COVID-19 pandemic has created challenging conditions. Under these circumstances, economies and societies have struggled to find their bearings. During such times, citizens look to social institutions for guidance. This guidance helps bring peace and unity during times of distress.

During this pandemic, some social institutions have risen to the challenge. They have faced the problem head on and acted accordingly. For certain aspects, however, they have looked to others.

Everybody has been forced to innovate to find solutions during this pandemic. Governments have had to innovate appropriate restrictions to protect others. Businesses have had to innovate their operations to fit these restrictions. Citizens have had to innovate to fit their practices to these restrictions.

This collective effort has brought together the government, civil society, and the private sector. The government is actively working with private businesses to find possible solutions to their problems.

Germany held its first government hosted crisis hackathon for the same effort. This event produced useful solutions while promoting collaboration. Hackathons have a history of providing the best solutions. They are dynamic and flexible in setting and this allows creativity. Participants gather in a common space, form teams and work on providing a solution to the presented problem.

In the current situation, these hackathons are used to create solutions to social challenges. These are created by opening up development to people and organizations outside of the government. The City of Toronto, NASA, NSF, and UN etc. have all used them in the past.

The German #WeVsVirus was special due to its urgency and scale. Typical hackathons allow around three months of preparation. This event, however, came together in just four days. The organizers were pleasantly surprised by the social interest in the event. Nearly 43,000 people signed up and 26,581 participated. These numbers helped make this event the world’s largest hackathon to date.

Organizers crowd sourced problems and existing efforts. They were able to gather 1,990 problems from both: people and the government. After shortlisting 809 problems, they were separated into 42 categories. Participants had 48 hours to develop and submit their solutions via a hackathon platform called Devpost. Additionally, they also had to create a two-minute video pitch.

Collectively, this contest received over 1,494 proposals. Industry experts and government officials selected 197 of the best projects. The hackathon jury then selected the 20 best projects.

To support this initiative, the German government then launched a program to develop and implement the proposed ideas.

While this hackathon provided the government with solutions to problems, it also helped participants. During this isolation, the mental health of many has been compromised. Of the 20,000 participated, most expressed feelings of “euphoria, positive energy and persistence with which people worked, developed ideas and created innovation”. This helped bring positivity to an otherwise grim situation.

Some of these solutions have been fast-tracked to implementation. The first occurred on April 10. The government’s federal employment agency added the winning idea to its website. This tool helped businesses and employers apply for short-term labor grants. This allowed employers to reduce employees’ working hours while compensating them for lost earnings. Although this tool was simply an add on to the existing portal, the proposed development time was impressively short. It took around two weeks from conception to implementation for the tool.

German State Minister for Digitization Dorothee Bär said, “The number of the depth of solutions is impressive. We should think about using the hackathon for other problems as well”.

In Canada, the government is working closely with the private sector in a similar way. The government of Canada has several labor grants in place specifically for this pandemic. Funds such as the Canada Emergency Wage Subsidy, Temporary 10% Wage Subsidy, Work Sharing Program are all available to Canadian businesses for support. For businesses looking for credit, the Canada Emergency Business Account is available to access.

Similar to Germany, Canada too has options to collaborate between governments and businesses. Specifically, the province of Ontario and the Ontario Together effort. Ontario has some of the most innovative businesses and initiatives in the nation. The provincial government has set up a website with problems they need solutions to.

Via this platform, businesses can help propose their ideas and projects for the problem proposed. The province has also set aside a fund to help develop and implement the solutions as soon as possible. Through this, Ontario and the entire nation is fostering innovative collaboration between the private and public sectors to fight this pandemic.

The Government of Canada also provides other methods to support innovation and research. The largest and most common method for this is through the Scientific Research and Experimental Development Tax Credit Program. This program, held in collaboration with Canada Revenue Agency, awards tax credits to companies working on research and development related projects. Businesses can be rewarded a portion of their related expenditures in tax credits or cash refunds.

EVAMAX specializes in SR&ED and other grant applications. Contact EVA MAX today to see if your projects qualify for any grants.

We know SR&ED claims can become complicated. All the paperwork and procedures can seem confusing. But don’t worry. Follow these tips to make your SR&ED filing with EVAMAX easy as pie!

1. Assess your project eligibility early!

Your business and project can be planned better if you can determine your SR&ED eligibility early. This can be key in maximizing your claim and expenditures.

You can determine potential labour, material, and contractor expenses ahead of time and maximize the claimed amount.

To determine this, follow the prompts listed at the end of this article. For any further questions, please contact EVAMAX.

2. Active Time Tracking

The key to an easy SR&ED claim for your business and your SR&ED consultant is efficient tracking.

Ensure you have an active log system in place. This can help track employee hours based on projects and phases.

This log will help you accurately claim up to 65% of salaries paid to employees for research and development related work.

3.Organization

Organization is important for your claim. SR&ED projects typically deal with complicated and highly technical work.

As a part of your SR&ED claim, you will be responsible for a detailed report discussing your project. To make this process simpler, remember to keep track of all documentation and notes involved.

You can take this a step further by organizing documents, plans, evidence by phases of your project.

If your project does not have phases, chronological organization can also be helpful.

4. Ask questions

The added benefit of working with EVAMAX as your SR&ED consultant is the support available to you throughout your claim process.

From preparation and determining eligibility, to helping you collect the required documentation to speedy tracking of your claim, EVAMAX is here for your business.

Keep reading for more information about SR&ED tax credits .

What is SR&ED?

  • The SR&ED Tax Credit program stands for Scientific Research & Experimental Development Tax Credit program
  • It is a federal tax incentive program funded in partnership with Canada Revenue Agency
  • Businesses can use SR&ED credits to fund research and development projects
  • These projects can be used to create new or improve existing products
  • This innovation extends to products, processes, principles, methods, or materials
  • Tax credits are refunded at the end of a business’ fiscal year according to the project

Who can claim SR&ED Tax Credits?

  • A Canadian proprietorship, partnership or corporation conducting R&D is eligible
  • In order to qualify, your project must involve the three following criteria:
    1. Technological advancement
    2. Technical Content
    3. Technological Uncertainty
  • You can use the following prompts to determine your eligibility
    1. Does your project involve new formulations, designs and innovations?
    2. Do your methods make products cheaper, faster, better, or more durable?
    3. Does it propose enhancements, efficiency, or new product development?
    4. Does it address material changes, inconsistent product, or quality issues?
    5. Does it reduce the labour and resources required in production?

Which expenditures can be claimed under SR&ED?

For Canadian-controlled private corporations and small and medium sized enterprises, the following can be claimed:

  • Up to 65% of salaries for employees involved in the SR&ED project
  • Up to 32% of sub-contractor expenses related to the SR&ED project
  • Up to 42% of material expenses incurred for the SR&ED project

For Non-CCPC and Large CCPCs:

  • Up to 36% of salaries for employees involved in the SR&ED project
  • Up to 18% of sub-contractor expenses related to the SR&ED project
  • Up to 24% of material expenses incurred for the SR&ED project

You can have your qualifying expenditures refunded to you in as little as 3 months after filing!

EVAMAX are experienced SR&ED consultants . Contact EVAMAX today to see how you can use SR&ED credits to maximize your next R&D project.

Canada’s COVID-19 Measures

The COVID-19 pandemic has posed economic challenges for Canada. People have changed ways of living. These changes come after the government ordered social distancing measures. Employees work from home to allow social distancing. Essential services have remained open.

Many businesses have changed their structure to fit stay at home order. This pandemic has also cost businesses a loss and even closure. The government has put together funds and programs to support this need.

Extra Funding

The Canadian government released a new set of funds for businesses. This includes a $250 million funding increase in the IRAP program. The Industrial Research Assistance Program (IRAP) is one of many programs. The National Research Council manages this fund. This release also includes $1 billion for regional authorities.

Eligible businesses can use these funds to innovate. This financial assistance is used for purchases and labor costs. Most businesses applaud the government for their response to the pandemic. Some have complained that these funds prove insufficient for their business.

It has been difficult for the government to tailor programs to fit the needs of all businesses. The additional funding is to close this gap for small and medium enterprises.

Finance Minister Bill Morneau added,

“That is why we are taking unprecedented measures today to protect Canadian jobs. We are working in close consultation with all impacted businesses across the country to take action where it is required, and are prepared to take further targeted action as needed”

The National Research Council’s IRAP provides research and development grants to industries. These projects fuel technology innovation in Canada. The IRAP program has an annual budget of $310 million. This budget is getting an 80% boost with the extra funding released.

The Innovation Minister Navdeep Bains told Globe and Mail he hopes the extra IRAP funds will help 1,000 companies protect 10,000 jobs. He also stated, “if we need to do more, we will do more”.

IRAP Program

What is the IRAP program?

– Canada’s leading technology innovation program
– Offers funding, advisory services and industry connections to best consult on an R&D project
– Funding covers up to 80% of labour costs and 75% of subcontractor expenses.

Who is eligible?

– You must be a Canadian SME, incorporated and profit-oriented
– Have 500 or less full-time employees
– Have the objective to grow via development and innovation of products and processes

How Can Your Business Benefit?

If you are working on a qualified project, your project expenses can be covered upfront through IRAP.

EVAMAX specializes in IRAP and other funding applications. Contact EVAMAX today to see if your projects qualify!