Finding money for your business can be challenging. The usual advice — to get a bank loan, hit up family and friends for “love money” or get “angel investors”  — may work for some people, but it's not a one-size-fits-all solution. 

If the bank says no and angels aren't knocking on your door, what's left? 

The Canadian Federal and Provincial governments have many programs available for business owners. Some are geared towards 'youth,' others are industry specific, and many are available based on which province or city you're in. 

Finding the ones that are suitable to YOU and YOUR business will take patience and research.

Here are some places to get started: 

Government Grants, Loans and Financing is a searchable database of grants and loans that are available in Canada. It allows you to search based on things like which province and industry you're in and whether you are looking for special types of loans/grants (ie, for disabled, women, aboriginal, or youth). This helps you save time by narrowing your search results down to things more targeted to your business situation. 

Canadian Small Business Financing Program (CSBF) is a loan of up to $500,000 that you apply for through a bank or credit union. The purpose of the CSBF program is to help new businesses get started and existing businesses to expand. This link takes you to the home page where you can learn more about the program, which businesses are eligible, and how and where you can apply for it.  

Workplace Training for Innovation Program

Provides funding to train employees. Must be a business or non-profit, operating for at least one year, with  fewer than 50 employees. 

2010 Overview of Financing is a free e-book published by Small Business BC. It gives information on Federal and British Columbia Government programs. It doesn't list all the programs available, but it is a good place to start. It is in .PDF format so you'll need Adobe Acrobat Reader to see it. (You can download Acrobat for free from the internet if you don't already have it installed.) 

Women’s Enterprise Initiative Loan Program

For women entrepreneurs in Western Canada (Alberta, Saskatchewan, Manitoba, British Columbia) who are looking to start, buy, or grow a business. Your business must be at least 50% woman-owned. Funding is up to $100,000 

Community Futures Development Program offers funding and information for businesses in rural Canada. For example, the Manitoba CFDP offers loans up to $150,000. To find a Community Futures office close to you, do an online search for “Community Futures Development Program” and “your province” and, if that doesn't get what you need, add in your city. Some offices may offer classes or workshops on things like how to write a business plan or getting started with e-commerce. 

Canadian Youth Business Foundation (CYBF) is for “youth” age 18-34. They offer coaching, mentoring, an online business resource centre that has how-to articles, and total financing up to $40,000. The financing opportunities are divided into start-up and expansion phases. For example, their start-up financing is up to $15,000 with a repayment plan of three to five years, and no principal payments in the first year. If you fall outside the age range, you may still be eligible if you have a business partner age 18-34 who owns 51% of the company. 

Business Development Bank of Canada (BDC) offers information and financing for people who want to start or buy a business. You must have at least one year of financial information to apply for the financing through BDC.  

FINANCIAL ASSISTANCE TO HIRE EMPLOYEES 

Small Business Internship Program is for companies that want to get into, or improve, e-business strategies, such as marketing online. This could include projects such as Search Engine Optimization, Viral Marketing, setting up a company blog, etc. The government will pay 75% of an intern's wage (you pay the other 25%) for three months. The intern works on an e-business project for you. The projects must run between May and March each year.

Targeted Wage Subsidy Program is a win-win program for employers and the unemployed. The government supplies financial assistance to employers to help pay for wages if they hire someone on E.I., promoting work-experience for the staff and financial benefits for the company. B.C'a Targeted Wage Subsidy Program explains the program in more user-friendly terms. To find a program in your own province, search for “Wage Subsidy” and “Your province, Canada.” 

SELLNG TO THE GOVERNMENT 

Are you interested in selling your goods and services to the federal government?  You can register in the Supplier Registration Information (SRI) service as a potential supplier to the Government of Canada.  

SEMINARS 

Most cities have business centres where you can access learning opportunities for cheap or free.  As an example: Small Business BC has a list of inexpensive seminars on everything from taxes to gaining free publicity through the media. The Toronto Business Development Centre  offers evening seminars, and Alberta Women Entrepreneurs (one of several Women's Enterprise Centres in Western Canada) has a “brown bag” series where you can drop in over lunch for free presentations given by video conferencing. (They also offer financing.)  

To find out where your nearest business centres are, do an online search for “Business Development Centre” and “Your City” or peruse your local phonebook. 

RESOURCES 

Business Plan Template and “example plans” from BDC. 

Interactive planner from CYBF.

There are two options of the Planner based on whether or not you want to apply for money from CYBF. You'll need to sign up to use the interactive planner. Just click on the blue bar above the login window. 

Preparing A Business Plan from Atlantic Canada Opportunities Agency (ACOA). 

Preparing a Marketing Plan from ACOA.