Is your new startup firm in Quebec desperate need of funds to get off the ground? Perhaps your existing company wants to develop or launch a new business idea or strategy? In that circumstances, you may be eligible for money and emergency assistance from the Quebec government or other third-party organizations. Many funding options are accessible to small enterprises, including Québec government grants and Québec grants from third parties. There are various initiatives for existing firms and grants for beginning a business in Québec.
Grants and Additional Financial Assistance From Québec
Small company subsidies in Québec come in a variety of shapes and sizes. In some situations, grants can take the form of non-repayable financial assistance contributions, repayable loans, or even tax credits. Businesses can get a tax credit for IT Integration by Quebec Manufacturers or Processors or for Multimedia Title Production in Quebec.
However, to be authorized, business applicants must give particular information to government agencies or these third-party initiatives, regardless of the financing source. The following information criteria and paperwork are typically required for Québec grant applications:
1. A business or project plan that includes the mission statement, scope, timeframe, budget, and how it will impact Quebec’s economic development.
2. Financial data from a business, such as income statements and revenue reports
3. A list of the company’s personnel, including their numbers
4. Business registration and licencing proof
5. Recommendation letters
In Quebec, Who Is Eligible for Small Business Grants?
Small company finance grant eligibility varies by program, but most have comparable candidate requirements. Small and medium businesses, whether for profit or not, are generally eligible to apply for the programs described below, and entrepreneurs and business owners are also eligible to apply. However, some financing sources are exclusive to your location, whether Ottawa grants, Montreal grants, or grants from neighbouring provinces. Agriculture, food processing, and arts and culture are among the economic sectors and industries where programs are segregated.
Innovation, Business, and Economic Growth Grants
REGI’s Business Scale-up and Productivity Fund
The REGI Company Scale-up and Productivity Fund is a federal government grant programme targeting Québec firms and organizations with innovation and business growth in the manufacturing, life sciences, food processing, information, communications, and multimedia technology sectors.
How much money is given out?
Although there is no predetermined amount for this small company grant in Québec, small and medium businesses can usually get up to 50% of their eligible costs covered. Non-profit organizations may receive a maximum contribution of up to 90% of eligible costs.
How can I apply?
To be eligible for government funding, you must first contact a business counsellor from the Québec region’s business office for more information. If your organization or corporation is found to be eligible, they will send you a financial assistance application form and a list of papers you will need to submit to set up your file.
Quebec Economic Development Program (QEDP)
The Quebec Economic Development Program (QEDP) is another government grant programme offered to Quebec businesses. This initiative promotes business development in the Quebec region. Small to medium businesses and non-profit groups receive grants to help improve economic activity in the province and increase spending by visitors from outside the province.
How much money is given out?
Small and medium-sized businesses can get up to 50% of their eligible expenditures reimbursed. In comparison, non-profits can get up to 90% of their eligible costs reimbursed to finance the applicants’ proposed economic growth projects.
How can I apply?
To begin submitting applications, you must first contact an advisor in the business office in Quebec closest to you.
Jobs and Growth Fund – Quebec
The Jobs and Growth Fund – Quebec federal government initiative provides financial assistance to small enterprises and groups who want to create jobs to help local economies flourish in the long run.
Activities that assist the transition to a green economy, create an inclusive recovery, safeguard Canada’s market competitiveness through digital adoption, or develop industries vital to the country’s recovery and prosperity are all eligible for financing.
How much money is given out?
The percentage of expenditures covered is determined by the applicant’s time. Businesses can receive up to 50% of eligible costs as an interest-free, repayable contribution. Non-profit organizations can get help in the form of a non-payable amount equal to up to 90% of their eligible expenses. Finally, Indigenous candidates may be eligible for a non-repayable contribution that covers up to 100% of qualified expenses.
How can I apply?
Contact the Government of Canada directly to speak with an agent about this Québec government grants application. Applications will be assessed and accepted on a rolling basis until the allotted $140 million programme budget.
SME in Action Program
Small company subsidies in Quebec, such as the SME in Action programme, are targeted at enhancing the productivity of Québec businesses in order to improve competitiveness and speed up development.
Financial aid is available for for-profit small and medium businesses to help them implement new activities or business practices to boost productivity, optimize the supply chain, integrate an integrated management system, meet international manufacturing standards, or develop a costing system.
How much money is given out?
Funding is granted in the form of a non-refundable contribution of up to $50,000, covering up to 40% of eligible project costs.
Professional advisory services or expenses connected to the procurement of relevant and necessary information applicable to the project, such as statistics and market analysis, are examples of eligible programme costs.
How can I apply?
To get started on this Quebec government grant, contact the regional office closest to you.
Centre-du-Québec and Mauricie Economic Diversification Fund
The Centre-du-Québec and Mauricie Economic Diversification Fund assist in the establishment and growth of businesses and the development of new industries in the province. Projects should focus on one of three areas of development: entrepreneurship, support for small and medium-sized businesses (SMEs), or encouraging investment in industry sectors. All initiatives must take place in the provinces of Centre-du-Québec and Mauricie.
Financial aid is available for feasibility studies, investment projects (equipment and fixed assets), product and process development projects, conducting studies or business development projects, and support for entrepreneurial succession.
How much money is given out?
A repayable contribution in the form of an interest loan, a loan without interest, or equity investment, a loan guarantee of up to 70% on net loss, or a non-refundable contribution are all available from the Quebec government (subsidy). The nature of the project determines funding and loan repayments, with a maximum contribution of 25% for investment projects and up to 50% for studies and other initiatives.
How to apply?
Contact the regional office closest to you for more information on getting started.
MRC Des Appalaches Economic Diversification Fund
The MRC des Appalaches Economic Diversification Fund promotes economic diversification and business development in the MRC des Appalaches of Québec. This program’s funds will be used to help start and grow new enterprises, expand existing businesses, encourage business succession, make industries in the MRC des Appalaches more competitive, and diversify the economy. Feasibility studies, investment projects (equipment and fixed assets), product and process development projects, conducting or business development projects, and support for entrepreneurial succession are all eligible for financial assistance if they occur inside the MRC des Appalaches.
How much money is given out?
There are three types of funding available to help businesses. The first is a repayable contribution, such as a loan with interest, a loan with no interest, or an equity investment. The second option is a loan guarantee of up to 70% on net loss, while the third is a non-refundable contribution. The amount of funding will vary based on the project and the organization. For investment projects, contributions can reach up to 25% of qualified expenses, and for studies and other sorts of projects, up to 50% of costs.
How to apply?
Contact the regional office closest to you to begin this starting a business in Québec grants application.
Agricultural and Environmental Support Projects Grants
Financial Support Program for Aspiring Farmers
The Financial Support Program for Aspiring Farmers aims to assist young producers who are looking to start a new business or establish themselves on an existing farm. Two funding streams are available: a full-time grant to assist applicants with full-time startup and agricultural training and a part-time grant to assist applicants with part-time startup and agricultural training. Grant money can be put toward improving your farm, whether it’s through land improvements, equipment purchases, or other agricultural endeavours.
How much money is given out?
The amount of grant money awarded depends on the applicant’s training and education level for both full-time and part-time grants. Depending on their training level, full-time applicants can receive between $20,000 and $50,000, while part-time applicants can receive between $10,000 and $25,000.
A Bachelor of Science in agriculture, a Diploma of Collegial Studies (DCS) in farm management and operations, or other equivalent diplomas are examples of Training level 1 education. A Bachelor’s degree in administration, biology, or other eligible training, a DCS in administration, or other equivalent diplomas are examples of Training level 2.
A Bachelor’s degree or DCS in another subject, attestation of Collegial Studies or Secondary School Vocational Diploma (SSVP) in agriculture, or a Secondary School Graduation Diploma or SSVP in a field other than agriculture are examples of training level 3. (combined with agricultural training).
How can I apply?
If you fulfil the qualifying requirements, contact an advisor at a service center near you to begin the application process. When submitting applications, make an appointment with an advisor and bring your business plan, diplomas or transcripts, and evidence of age.
Energir Grants for Business’s Energy Costs
Energy Costs Grants for Businesses They split the money into two categories: subsidies for office buildings and awards for restaurants, intended to help businesses modernize their facilities with energy-efficient technology and appliances.
There are three categories of grants available for office buildings in Quebec:
1. A rebate of up to 30% of equipment acquisition and installation cost, which can be combined with other subsidies.
2. Grants are available for high-efficiency equipment and appliances such as unit heaters, smart thermostats, boilers, water heaters, and infrared heating systems.
3. Grants for efficiency measures such as solar preheating, innovation, studies, implementation, new efficient building, or recommissioning.
How much money is given out?
The maximum contribution of any of the funding streams, whether for establishing new energy savings in office buildings or restaurants, is $25,000. However, the rebate amount may vary based on the equipment and installation expenses.
How can I apply?
To find out if your company qualifies for one of the energy efficiency Québec awards for small enterprises, contact Energir immediately. It is vital to remember that the refunds are only available to enterprises on the Énergir gas network, including both office buildings and restaurants.
Fill out the “Declaration of Intent” Form before purchasing and installing your energy-efficient unit. Complete and send forms II and III, “Request for Payment of Financial Assistance” and “Information on the Hood and Exhaust System,” once the unit has been installed in the office or restaurant.
Conclusion
The Canada Economic Development for the Regions of Quebec is in charge of a number of these programmes (CEDQ). Companies can get government grants and loans that raise company investments and considerably improve project outcomes by being proactive and requesting funding before the commencement of projects.
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