Small Business Funding

The vast majority of businesses start without much (if any) external financing and, most micro businesses don't need outside financing to develop their business idea. Some excellent business support programs do exist, but they are distributed across the country and tailored to specific industries, demographics, or special economic purposes. One of the essential services that Enterprise Toronto provides is our business plan consultations. These consultations are offered FREE of charge and clients can meet with one of our small business advisors to review their business plan in a one-on-one interactive setting. Sometimes, creating a realistic cash flow forecast is the only thing that's stopping you from realizing your business goals! Below are some different financing /grants programs for small business: Self Employment Training - For individuals eligible to receive Employment Insurance (EI) or have received EI in the past 36 months, there is the very successful Ontario Self-Employment Benefits Program. This program is delivered by the Toronto Business Development Centre. For more information, please visit their website: o http://www.tbdc.com/oseb.php - For individuals with disabilities who want to start their own business, Biz Futures is a skills development program sponsored by Ontario Disability Supports Program and delivered by the Toronto Business Development Centre. For more information, please visit:

http://www.tbdc.com/biz-futures.php?PHPSESSID=3d0ghjsi7rjs7br1kcmob9lha0

Youth - The Summer Company is a youth employment program that offers participating students a grant to cover their start-up expenses up to a maximum of $3,000. This program is delivered in Toronto by Enterprise Toronto. For more information, please visit the website: o http://www.ontario.ca/summercompany - The Canadian Youth Business Foundation is available for those between the ages of 19-34 that have a great business idea. They provide support for young entrepreneurs combined with seed-financing up to a maximum of $15,000 with mandatory mentoring from experienced volunteers. For more information, please visit their website: o http://www.cybf.ca For those wanting to hire Employees - Employment Ontario helps Ontario businesses recruiting employees according to employer needs and also offering some incentives. For more information, please visit the Ministry of Training, Colleges, and Universities' website: o http://www.tcu.gov.on.ca/eng/employmentontario/employers/ - Ontario Apprenticeship Programs - the Province of Ontario assists employers with financial incentives to train apprentices For more details, please visit: o http://www.tcu.gov.on.ca/eng/apprentices/app_train.html - Apprenticeship Training Tax Credit a refundable tax credit available to employers or sponsors who hire and train apprentices in certain skilled trades. For more information check: o http:///www.tcu.gov.on.ca/eng/employers/taxcredit.html Don't forget! Employers can work with community employment service organizations/agencies for free recruitment and placement services.

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Exporting - The Department of Foreign Affairs and International Trade offers trade commissioner services helping companies looking to export, invest abroad or seeking technology and R&D partnership. The programs include financial assistance. For more information please check:

http://www.tradecommissioner.gc.ca/eng/funding/home.jsp

Capital Improvements - The Canada Small Business Financing Program offered by Industry Canada provides banks with guarantees for eligible small business loans. Term loans and capital leases of up to $500,000 are available to finance fixed assets only. Interested individuals should enquire at their bank and visit the website:

http://www.ic.gc.ca/eic/site/csbfp-pfpec.nsf/eng/h_la02855.html

Industry-Specific Business Support Programs - Canada Media Fund

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http://www.cmf-fmc.ca/index.php?&page_mode=create http://www.pch.gc.ca/eng/1268240166828/1268328701928 http://www.canadacouncil.ca/writing http://www.pch.gc.ca/pgm/fmusc-cmusf/fcm-cmf-eng.cfm http://www.trilliumfoundation.org/ http://www.canadacouncil.ca/grants/ http://www.torontoartscouncil.org/Grant-programs http://www.torontoenterprisefund.ca/_bin/apply.cfm

Canada Periodical Fund

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Writing and Publishing Canada Music Fund Ontario Trillium Foundation (charities in Arts & Culture, Environment, Sports and Recreation) The Canada Council for the Arts Toronto Arts Council Toronto Enterprise Fund (for social business)

Innovation & Technology Commercialization - The Industrial Research Assistance Program offers technical advisory support, testing and incubation facilities and financial assistance where eligible for small and mid-sized businesses developing new technologies.

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http://www..nrc-cnrc.gc.ca/eng/services/irap/financial-assistance.html

The Scientific Research and Experimental Development program is perhaps the most successful financial support program for Canadian businesses. The Canada Revenue Agency offers businesses that have invested in research a tax refund on eligible expenditures.

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http://www.cra-arc.gc.ca/txcrdt/sred-rsde/bts-eng.html

Ontario Centres of Excellence. Thesecentresbringuniversities,industry,andgovernmenttogether

tohelpturnscienceandtechnologyintosuccessfulbusinessendeavours.For more details:

o http://www.oce-ontario.org/Pages/Commercialization.aspxl

Remember!
Programs change please talk to an ET staff member about the specific needs for your business

Lastupdated:April20,2012