New Government Funding: "Boost Your Business Technology" program
New Government Funding: "Boost Your Business Technology" program
Small and medium businesses that want to improve their productivity and become more competitive in the digital marketplace can access the new federal Boost Your Business Technology funding program.
This program provides funding to develop a digital adoption plan, and connects businesses with financing and wage subsidies to help them implement the plan.
Read below for a summary of the program, and full for details or to apply, visit the government site.
Have questions about this or any other government program? Contact the Langley Chamber.
This program has three component parts:
- Funding to develop a Digital Adoption Plan
- The program connects businesses with a roster of digital adoption experts and will pay for up to 90% (up to $15,000) of the costs to use one of these experts to develop a plan to increase a business’ digital technology.
- The program connects businesses with a roster of digital adoption experts and will pay for up to 90% (up to $15,000) of the costs to use one of these experts to develop a plan to increase a business’ digital technology.
- 0% Interest Loans to Implement the Plan
- Applicants have the option to access an interest-free loan from BDC to help them implement their plan and acquire new technologies.
- Applicants have the option to access an interest-free loan from BDC to help them implement their plan and acquire new technologies.
- Wage Subsidy for Student Placement to Help with the Plan
- Businesses can receive a wage subsidy up to $7,300 to hire a talented student for a funded work placement position that will help with the implementation of their new technology and plan.
To be eligible to apply, a business must:
- Be incorporated federally or provincially, or be a Canadian resident sole proprietor
- Be a for-profit, privately owned business
- Have between 1 – 499 full time equivalent employees
- Have at least $500,000 of annual revenues in one of the previous three tax years
Apply:
Applications are handled directly with the federal government through their online portal.
Businesses will need to sign in with a GCKey or your online banking information with one of the federal government’s Sign-In Partners.
You will be asked to assess your business' digital readiness by completing a digital needs assessment, and following that you will be connected to a network of Digital Advisors who will help develop a digital adoption plan for your business, and map out costs.