The Government of Canada, through Innovation, Science and Economic Development Canada, has set up the CANP to help entrepreneurs who want to grow their business by moving into the digital age. The program has two components: the Expand Your Business Online grant and the Enhance Your Company’s Technology grant. These grants range from $2,400 to $15,000, plus many other benefits.
To develop your online business
This “micro-grant” of up to $2,400 is aimed at for-profit businesses with a minimum of 1 employee or annual revenues of over $30,000 in the last fiscal year, and which sell goods or services directly to consumers. Business chains, franchises and NPOs, among others, are not eligible.
The program’s objectives include
- Creation of a new transactional website;
- Add functionality to an existing website;
- Costs associated with setting up an e-commerce platform ;
- Hiring an e-commerce consultant ;
- Add e-commerce software to track and manage inventory, sales…
If you have a clear idea for a project that fits in with the program’s objectives, fill in the interest form on the PCAN website now.
Once the application has been submitted, an e-commerce consultant will contact you to set up an appointment to validate the feasibility of your project. The advisor will also help you complete the grant application if the project is deemed acceptable.
Finally, the company must submit invoices and proof of disbursement for the project in order to receive the grant.
To improve your company’s technologies
In the age of 4.0, companies need to start or continue the technological shift if they hope to remain competitive and prosper. The PCAN program is a must for companies who don’t know where to start, and even for those who don’t, thanks to the advantages it offers. The Enhance Your Company’s Technology grant covers 90% of the eligible costs of hiring a digital consultant to prepare a digital adoption plan, up to a maximum of $15,000. The program then offers the possibility of taking out an interest-free loan from the BDC to implement the report’s tools and recommendations, up to a maximum of $100,000.
The digital adoption plan
The digital adoption plan “evaluates a company’s business processes, including areas where it already uses existing technology, and assesses the possible improvement or expansion of its current technology. The main objective of a digital adoption plan is to transform the way a company operates by leveraging technology to achieve short- and long-term goals.” [1]
In practical terms, the digital adoption plan can cover various aspects of the company’s digital side, for example:
- Cybersecurity, protection of personal information, compliance with Bill 25 ;
- Implementation of an enterprise resource planning (ERP) or customer relationship management (CRM) system;
- Migration to acloud-based accounting system such as QuickBooks Online;
- Improve inventory management and/or supply chain logistics;
- Task automation ;
- Paperless turn ;
- And much more.
Eligibility criteria are very broad:
- Be a Canadian-controlled private company;
- Between 1 and 499 employees;
- Have declared at least $500,000 in revenues in one of the last three fiscal years.
Companies that already have a digital adoption plan can apply directly for the interest-free BDC loan. For others, the grant will cover a portion of the cost of a digital consultant to help develop the plan.
An article by Gustave Legault-Brousseau, CPA Director – Consulting Services
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