Recent political speeches have called upon small businesses repeatedly to resolve many of the issues currently facing the economy. Small businesses will bear the heavy burden of stimulating the Canadian economy with new growth and production. Because small business plays such a critical role in Canadian success, the government works hard to help promote and support its small business.

How the Government helps small business

There are many ways the government reaches out to help small businesses. Small businesses need help getting established and staying compliant with governmental regulations and rules. The small businessman is often protected and offered advantages over the larger businesses and corporations operating in the same marketplace.

Small Business Grants

Grant programs available for small businesses are awarded through the various government agencies. For example a grant available to a woman or minority business leader might be available a business agency in the government.

Often these grants have criteria regarding the use of the funds, but many are available as a means to expand or support the small business as it grows to new levels or reaches out to a new customer base. Other small business grants can be found through departments that work specifically within your industry. As new grants are developed, there are always more opportunities available to finance or expand a business through government money.

There is no limit to the number of small business grants you can apply for. Submitting multiple grant proposals to the various agencies as applicable grants become available is the best way to stay abreast of what opportunities are available as well as increasing your likelihood of receiving large amounts of money to do with as you please in your business.

Government Loans for Small Businesses

Government backed loans are available through commercial lenders to expand or start businesses. There are other small business loans also available through commercial banks. The majority of small business loans come through the government and these loans have very favorable terms for repayment.

Other Canadian Government Programs

In addition to loans made available to small business owners, there are also programs available to unique groups of business owners. For example the government offers loan programs to veterans specifically and also offers relief loans to businesses affected by natural disasters. Special tax programs also offer tax credits for qualified business practices.