Finding credible funding resources online can sometimes be a challenge for entrepreneurs. There is a lot of misinformation about where to look for small business funding and sorting through various websites can be a huge burden for those looking to get started.
CanadaBusiness.ca is an excellent resource for information on various small business related topics and has a great feature for funding information through the “Find Financing” tool. This tool is ideal for any potential small business owner for three reasons:
- It is credible – As mentioned above, there is a lot of inaccurate funding information online. Sometimes this information is accidentally circulated (e.g. a story from a friend of a friend, or an assumption that a program should exist). Other times the misinformation is distributed on purpose, often with the objective of selling services or products under the suggestion that the purchase will help an entrepreneur secure free money. ca can often be used to help validate that a program is credible when they first appear online.
- It includes funding programs from sources beyond the federal government – It would be easy to assume that visiting a federal government website would show only programs specifically provided by the Government of Canada. This site includes a variety of different programs from different groups including:
- federal government departments such as Human Resources Development Canada or Industry Canada,
- provincial programs offered by each Canadian province, and
- organizations operating independently that are funded partially or in whole by public funds including the Business Development Bank of Canada, Futurpreneur Canada, or Export Development Canada.
- Search results can be filtered based on your specific funding objective – It is important while searching for funding to have a specific plan for what the money will be used for. Programs usually have very specific mandates and therefore specific parameters regarding what can and cannot be funded. Where one program might support funding a salary for a worker, another will be appropriate for funding new equipment. Search results on the canadabusiness.ca website can be filtered based on your specific objective.
The consultants the Halton Region Small Business Centre are here to help with planning your new small business. We welcome you to discuss any results of your search on CanadaBusiness.ca at a free one-on-one consultation with one of our knowledgeable business consultants.