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Government Grants and Funding Programs

Government Grants and Funding Programs

FERNO CONSULTING, encourages everyone that owns or plans to start a business to apply for Government Grants, Government Funding, Loans, Small Business Grants and Government Subsidy Programs.

Funds for programs are allocated on a case by case basis. Government policy is to fund businesses on a non-discriminatory basis. People of all ages, locations, and industries may be eligible.  Small businesses receive funding as well as large businesses. The government is interested in encouraging businesses from all sectors of the economy

Every Year there are new programs and revised requirements based on Government findings and industry needs.

People often feel discouraged when searching for funding: Overwhelming “red tape” of departments and intimidating amounts of paper work can lead to frustration.

FERNO CONSULTING, helps businesses to understand the difficulties and opportunities presented to them. We will help you target the right resource funding made available that meets your businesses needs.

FERNO CONSULTING will give you the chance to succeed. Take advantage of what you are entitled to.

Hundreds of opportunities for funding, loans, grants, and subsidies are available NOW.

YES you can apply to as many programs as you wish. Programs DO have deadlines! New ones are created and old programs are cancelled.

Be properly advised. Let FERNO CONSULTING assist you.

Here are some FAQ regarding business funds:

What is a grant?

A grant is a sum of money conditionally given to your business from the government which does not have to be paid back. A grant may also be in the form of taxe credits, free consulting or educational programs, fees that are normally paid by your business. Grant monies may be used for many purposes, these include purchasing equipment, advertising, marketing surveys or studies, many other business purposes exists.

What is the difference between a government loan and a conventional loan?

Government loans often have low interest rates, or a period of time during which interest is not charged. The government sometimes provides loans directly to business, and sometimes provides a loan guarantee through a conventional financial institution. Government loans may also offer the flexibility of finance without collateral.

What is a tax refund or tax credit?

Tax refunds and tax credits provide funding for your businesses start-up or expansion by allowing you to deduct certain expenses from your tax bill. Your business may apply for tax refunds for previous expenditures, or receive tax credits on future projects. These tax breaks can improve your businesses cash flow therefore allowing faster development then would otherwise be possible.

What are grants in-lieu of property taxes?

Tax deductions towards newly purchased property or land can save your business money. Property tax breaks come in the form of many programs or grants.

What are relocation grants?

Relocation grants are subject to a business changing its geographic location. Financial incentives have been put in place to accommodate the business for the relocation purpose.

What is insurance against business risk?

Government insurance is often available for no or low premiums. Insurance covers risks associated with a specific goal or project. If your company is unable to pay a loan that was linked to this insurance, all or a portion of the loan will be honored. This guarantee of loan repayment may allow you to borrow money that you otherwise would not qualify for. A new projects risk can be assumed by the government, while your business remains stable.

What is a guaranteed government purchase of your product or service?

The guaranteed government purchase of your company’s products or services provide your business with an instant client base. Consumer confidence will increase based on the governments purchasing lead. Fast and efficient market growth can create a higher demand for your company’s products or services.

What are government information and services programs?

Government Programs, like consulting, training and information services for businesses are available at little or no cost. There is a large range of services available to new and existing businesses. Any new businesses can particularly benefit from this low cost access to expertise and help develop your business.

What is a conditionally repayable contribution?

A conditionally repayable contribution is a government investment in a business project, which does not have to be repaid if the project is not successful. These programs allow you to pursue new projects and goals with much less personal or business risk. The government functions similarly to a venture capitalist investing in your business.

What is equity financing?

Government investment in your business is equity financing. The government will own a part of the business, and potentially share in it’s success. The government may be more flexible than private investors or banks as it is less focused on realizing quick profits.

What is the best way to get approved for a grant?

Getting approved for a grant is as easy as applying to as many of the programs as possible that your business may qualify for. Knowing which programs are best suited for your business and which time of year to apply is a very important factor on program funding approvals.

Where can I find information about government grants for my business?

The Government does not keep a centralized list of all the program opportunities that it provides.  Valuable business time can be wasted trying to find exactly what programs or services are right for your business needs. Contacting the right agency will save time and money.

How do I apply for a grant?

Grant programs have different applications and time constraints. Applying for a government grant may seem overwhelming and complicated to any applicant. We can help you maneuver through government red tape and obtain positive results.

How soon can I receive assistance from the government?

Assistance can arrive relatively quickly based on your application. The timeframe could be anywhere from a few weeks to a year. Deadlines must be respected, so apply as soon as possible in order to ensure your business is accepted in the programs.

How many grants or programs can I apply for?

You can apply for an unlimited number of grants and programs

Some newly introduced funding programs are:

Funding Programs for Canadian Farmers.

The Canadian Government has recently updated the funding framework for farms and agri-businesses for 2015 and beyond.

Under current guidelines producers of various agricultural commodities have a variety of funding options at their disposal. As an established farm owner, or new entrant into a particular sector, it is equally important to take full advantage of the programs that have been put into place by both the Canadian Federal and Provincial Governments.

Of particular interest to farmers should be the targeted programs for particular geographic areas. Some of the areas of focus for programs include the Provinces of Manitoba, Alberta, British Columbia, Saskatchewan and Ontario.

Funding Programs for New Businesses

If you are starting a new business in the next 6 months, or have recently started a business, you need to access the newly updated programs for Winter 2015. Make sure to get the current and updated information for programs for your business.

Funding for Red-Seal Trades

The government has released updated programs for entrepreneurs in the red-seal trades. We are in the process of updating the program database to reflect the changes for Winter 2015.

Contact FERNO CONSULTING now to access the information on programs for Contractors, Electricians, Plumbers and Other Red-Seal trades. Get a leg up on the latest programs. Let us help you to get the funding to grow our business now

 

If you would like to discuss about these items or would need some advice from us, please contact us at:

info@FernoConsulting.com

+1-403-923-2305

 

Sources of material: Canadian Grant Business Centre website