Looking for funding for your 2SLGBTQI+ business?

Innovation Canada can help you find it.

So, you’re running a business in Canada and on the lookout for support to help you grow. But what does that look like for your business – what kind of support do you need, and where do you even start to find it? 

Did you know that Innovation Canada can help you answer those questions and more – on an all-in-one, easy to use online tool? The Business Benefits Finder can help you understand what programs and services are out there, which ones might be right for your business right now, and show you where to find them. 

Most entrepreneurs look for funding at some point in their business journey – but with so many types of funding available, it may help to know a little more about each one.  Let’s take a look at some of the more common types of funding: 

• Grants and Contributions: Both of these are generally non-repayable – the difference being that Grants are unconditional transfers of funds to recipients, whereas Contributions are subject to performance conditions specified in a funding agreement.  Both grants and contributions can be subject to performance and/or reporting requirements from the contributor.
  Loans: Loans are repayable and can come from many different types of lenders (e.g. government, banks, credit unions, private organizations and individuals). Loans are subject to interest at varying rates, however, zero or low-interest loans do exist. The terms of loans and the specifics around borrowing can also vary and are specific to the lender. Some lenders require a guarantor to share the risk associated with your loan. There are programs where the Government can act as a guarantor, depending on the business’ needs and where they are located. 
• Capital Investments: This may be a loan of venture capital investment provided to a business by an individual, firm or group of investors.  Typically, the funds are loaned out with the expectation either of being reimbursed or in exchange for a share of the ownership, assets, or profits.

With hundreds of federal, provincial and territorial programs listed on  Canada’s Business Benefits Finder, you’ll find these types of funding and more, including tax credits, wage subsidies, expert advice, support to scale and sell internationally, and more.  There’s a lot there, but we’ve made it easy to find what you’re looking for: 

• Visit Canada.ca/Business-Benefits-Finder
• Answer a few quick questions about your business
• Receive a tailored list of right-for-you support – in under 2 minutes

Here are a few pro tips to help you the most out of the Business Benefits Finder: 

• If you’re looking for support specifically in your area, select your province(s) of operation to see what support you may qualify for in your area. If you are looking for programs available to business owners across Canada, select “all of Canada” to see what support may be available nationally. 
• Want to see results that are specifically geared towards 2SLGBTQI+ led businesses? We’ve got that too! One of the last questions you’ll see is the “we’re looking for programs that support businesses owned by” question, go ahead and click as many categories as you identify with, including “businesses owned by 2SLGBTQI+”. Selecting this will not exclude you from any support; rather – it will show you additional results – funding and support programs that you qualify for specifically as a member of this community. 
• Click the I’m done button and – well, you’re done!  Your results will now appear, itemized by category. You can learn more about each program by clicking on the tile to see a short summary that will help you decide if it’s the right fit. Plus, you’ll see a few things the tool found for you – just in case – things you didn’t know you needed or didn’t know you would qualify for! 
• You can also save your search criteria or favourite programs– by doing so, you’ll get an email when a deadline is approaching, or when a new program is added that you may be eligible for – saving you valuable time. The Finder is kept up to date by a team who does the research for you – putting it all at your fingertips and giving you the information you need to help decide if a program could be right for you.

Whether you are starting your entrepreneurial journey, or looking for support along the way, chances are the Business Benefits Finder will be the right place to start. Contact an Innovation Advisor EnglishContact an Innovation Advisor English

This short video provides an overview of Innovation Canada’s programs, as well as a walk through of their convenient, easy-to-use Business Benefits Finder tool to help you find all the support Government has to offer businesses.