The Boost your Business Technology Grant is the main method of delivering funds to small and medium sized businesses under the Canada Digital Adoption Program (CDAP). Through the Boost your Business Technology Grant, small and medium sized businesses are eligible to receive:
Up to $15k in Digital Advice (90% reimbursed).
Up to $7300 in employee wage subsidies.
Up to $100k of an interest free loan from the Business Development Bank of Canada (BDC).
To be eligible for this grant, your business must:
Be a for-profit business.
Have made at least $500k of revenue in at least one of the last three years.
Have 1-499 employees.
Here are the steps to receive this grant:
Check your eligibility and apply on the CDAP Website: You must make an account at
https://ised-isde.canada.ca/site/canada-digital-adoption-program/en/boost-your-business-technology-grant , confirm your eligibility, and begin the application process. The application is fairly straightforward and businesses have been accepted for the grant in under a week’s time. It is important to note that you (the business owner) or someone you give authorization to, must fill out the application. A Digital Advisor or a 3rd party organization cannot fill out this application for you, but they can guide you through the process and answer any questions.
Select a Digital Advisor: Once you receive word from the CDAP that you have been accepted for the grant, you must select an approved-Digital Advisor. You will have access to the CDAP marketplace where all the approved-Digital Advisors are listed. This grant requires you to choose a Digital Advisor who will investigate the digital needs of your business, and provide you with a final consultation report. Should you choose Swank Business Solutions as your Digital Advisor, you would need to find our name and select us on this marketplace.
Come to an agreement with your Digital Advisor: Once you have received the grant and you have selected a Digital Advisor, you must come to a written agreement with them. Like any standard business agreement, you must detail the scope of work, the cost of the project, the timeline of the project etc.
Begin the Digital Consultation Services: Once an agreement has been reached, your Digital Advisor will assess the needs of your business, provide vendor-neutral advice and suggestions, and deliver their final report. It is important to note that this grant is strictly for consultation. Your Digital Advisor cannot implement or perform the services or products they suggest in your report during this time period. If you wish to hire your Digital Advisor afterwards to implement the changes and perform other services, this is permitted.
Reimbursement: After the digital advisor has completed their work and has been paid by your company, you will now be able to be reimbursed for 90% of the costs (up to $15k). For example, if the total costs of your consultation services are $16,500, you would be reimbursed $14,850 (90% of the project cost). In this scenario, you would pay only $1650 for $16.5k worth of expert advice to grow and optimize your business. To receive the reimbursement from the CDAP, you must submit your final Digital Advisor report to the CDAP website along with any invoices from the work. The CDAP will then reimburse your funds. *It is important to note that you must pay your Digital Advisor first, and only when the work is complete and the final report is submitted, will you be reimbursed*
After your final digital report has been submitted and you have been reimbursed, you will now be eligible for the wage subsidies and the interest free loan of up to $100k. We will highlight the process for these opportunities in separate articles.
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