‘Boost Your Business Technology’ Funding for Businesses
Small and medium businesses that want to further improve their productivity and become more competitive in the digital marketplace can turn to Boost Your Business Technology funding. This program provides funding to develop a digital adoption plan, and connects businesses with financing and wage subsidies to help them implement the plan.
Read below for a summary of the program, and full for details or to apply, visit the government site.
This program has three component parts:
- Funding to develop a Digital Adoption Plan
- The program connects businesses with a roster of digital adoption experts and will pay for up to 90% (up to $15,000) of the costs to use one of these experts to develop a plan to increase a business’ digital technology.
- Are you a digital expert? The program is still looking for advisors to join the roster and support applicants. Click here for more info.
- 0% Interest Loans to Implement the Plan
- Applicants have the option to access an interest-free loan from BDC to help them implement their plan and acquire new technologies.
- Wage Subsidy for Student Placement to Help with the Plan
- Businesses can receive a wage subsidy up to $7,300 to hire a talented student for a funded work placement position that will help with the implementation of their new technology and plan.
To be eligible to apply, a business must:
- Be incorporated federally or provincially, or be a Canadian resident sole proprietor
- Be a for-profit, privately owned business
- Have between 1 – 499 full time equivalent employees
- Have at least $500,000 of annual revenues in one of the previous three tax years