June 30th, 2015
Are you hoping to start a small business, or are you hoping to grow your existing small business? If you answered yes to either of these questions, chances are good that you could be eligible for a leadership grant in Canada.
The Leadership Grants Organization began in 2009 and has operated ever since on a not-for-profit basis. It distributes 100% of its profits to businesses that meet their funding criteria. They also recognize the importance of early-stage funding to provide small business owners with the tools they need to grow and succeed in a competitive marketplace.
Leadership grants range from CAD $1,000 to $100,000. See if you can secure some funding for yourself today!
Which Applicants are the Most Eligible?
Any Canadian citizen or legal immigrant can apply for a leadership grant in Canada if they hope to grow their small business. If you own or hope to own a small business, there are many ways you can benefit from a leadership grant.
Perhaps you are already employed, but you wish to make some extra money on the side, or gain some independence from your current employer? New and stay-at-home parents who hope to run a business from their home are also eligible. Leadership grants also benefit the unemployed who might be looking to raise their income by starting a small business.
Leadership grant committees do not discriminate in their approach. New immigrants and minority groups that hope to start a small business are provided equal treatment. Young entrepreneurs over the age of 18 are also considered, while retired individuals looking to retain their independence can also apply. Every reasonable “small-a” application is considered!
What are the Funding Guidelines?
Of course, the Leadership Grants Organization has a series of rules for their grant applicants. You need to be ready to launch your business within six months of application, and these funds require allocation within this time period as well. For instance, you need to purchase farming machinery, property, or websites during this period.
The Leadership Grants Organization rewards companies that show a high level of preparation, demonstrating firm confidence and drive. Your grant is tailored to start or grow your small business regardless of whether or not you receive funding.
If you want to increase your chances of receiving a leadership grant, you need a carefully laid out business plan, including your goals and objectives, and how you plan to measure them. These objectives require a balanced and well thought out approach, so you should always be as specific as you can, and demonstrate that you have invested a serious amount of time and energy into your project.
Not every small business is eligible. Businesses with illegal intentions you are automatically disqualified. If you belong to a charitable organization, a lottery or gambling business, an adult entertainment business, or a speculative real estate company, you are also ineligible. You cannot use these funds to pay employee salaries, buy out a business partner, pay existing debts, are acquire an existing business.
How is the Leadership Grants Organization Funded?
Grant proceeds from the Leadership Grants Organization are derived from business leaders, sponsors, and a variety of private corporations. These donors possess a firm belief in the utility of small business owners as fundamental contributors to the market and to society, and look forward to working with you once your business is established, or once it begins to grow.
Unfortunately, not every application is a success. With the right preparation and commitment, however, your chances of receiving a leadership grant in Canada increase. Almost 90% of applicants that submit a well- prepared application that meets the funding criteria receive at least some of the money they were hoping for. Contact INAC to get the assistance you need to make sure your grant stands out from the competition, and apply today!
