Are you a small business owner or entrepreneur in British Columbia (BC) looking to take your business to the next level? Financing can be a major hurdle, but don’t let that hold you back. BC offers a range of small business grants that can provide the financial boost you need to succeed.
What are Small Business Grants in BC? Small business grants in BC are funds provided by the government or other organizations to help entrepreneurs and small business owners start or grow their company’s. These grants are designed to provide financial assistance to small businesses that may not have access to traditional funding sources, such as bank loans.
Small business grants in BC can be used for a variety of purposes, including purchasing equipment or inventory, hiring new employees, and marketing and advertising. The amount of funding available varies depending on the BC business grant program and the needs of the business owner.
BC Small Business Grant Programs
There are several small business grant programs available in BC, including
- the Small Business Grant,
- the Launch Online Grant, and
- the Innovate BC Ignite Program.
Each of these programs has its own eligibility requirements and funding limits.
The Small Business Grant provides up to $7,000 in funding for eligible small businesses. To be eligible for this grant, a business must have been in operation for at least one year, and have fewer than 50 employees.
The Launch Online Grant provides up to $7,500 in funding for eligible small businesses to create or expand their online presence. To be eligible for this grant, a business must have been in operation for at least one year and have fewer than 150 employees.
The Innovate BC Ignite Program provides up to $300,000 in funding for eligible small businesses to conduct research and development projects. To be eligible for this grant, a business must be incorporated in BC and have a viable technology project which requires funding.
Other Small Business Grant Programs in BC
In addition to the government-funded small business grant programs in BC, there are also private organizations and foundations that offer grant funding for small businesses. Some of these programs include