Financing is always a crucial yet difficult part of starting a business. This page contains resources and links to help you out. Already have your finances sorted out? Click the button below to get additional helpful resources and advice.
When starting your business, you have to choose whether you want to use equity or debt financing.
Both methods have their pros and cons, so it is important to do research before determining which method is the most appropriate for your business. Here’s somewhere you can start: click here.
your funds are borrowed from financial institutions (banks, credit unions, etc.) and you must eventually pay back your loans
your funds stem from investors, who will give you money in return for a portion of your business
Below is a non-exhaustive list of some places where you get grants or subsidiaries for your small business.
Canada Small Business Financing Program
Up to a maximum of $1,000,000 for any one borrower, of which no more than $350,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment. Find here.
Crowd sourcing for startup businesses, in which the poster can put their project on the platform for the public to pledge money to support the project. Creators choose a deadline and minimum funding goal – if the goal is not met by the deadline, no funds are collected. Find here.
Workplace Accessibility Grant
Up to a maximum of $1000 per business; used to create an inclusive work environment for persons with disabilities. Find here.
Business Development Bank of Canada (BDC)
Has multiple financing solutions for entrepreneurs for projects and working capital. Find here.
Innovator Skills Initiative
Up to a maximum of $10,000 to help employers hire new employees and o help under-represented people get their first job in BCs tech sector. Find here.
Black Entrepreneurship Loan Fund
Developed by the government in partnership with the Federation of African Canadian Economics. Provides up to a maximum of $250,000 for Black business owners and entrepreneurs. Find here.
You can also use the Business Benefits Finder to help you find targeted services for your specific needs, including information about funding and loans, tax credits, subsidies, expert advice, and more.