Are you a Canadian business looking for ways to get ahead in the digital world? Then the CDAP grant program can be for you!
The truth is that implementing digital technologies can be an overwhelming prospect for many small- and medium-sized businesses.
A lot can stand in the way of making a digital shift.
You have probably always done business a certain way, don’t have enough time to research o implement new technology, or lack the expertise to make this all happen.
It’s undoubtedly difficult.
Well, the Canadian Digital Adoption Program could be the answer.
Through a CDAP grant, businesses in Canada can apply for up to $15,000 to develop their digital capabilities.
In this blog post, we’ll tell you everything you need to know about the CDAP program and how you can get your business the grant money it needs to take the next step in digital development.
What is the CDAP grant program, and what does it cover?
The Government has launched the CDAP (a $4 billion investment) to help businesses get online and adopt new technologies to increase competitiveness and resilience.
Eligible businesses will receive grants to build their digital plans and a 0% loan of up to $100,000 to implement them.
There are two funding options (more on that below) to help businesses get online and use technology to grow.
Some benefits of these grants include (like that needs reminding, but anyway):
- Boosting your business in the digital age
- Remaining more competitive
- Acquiring IT equipment
- Installation of new technologies
- Serving current customers more effectively
- Connecting and attracting new customers
- Updating and/or expanding IT equipment
- Training staff on onboarded technologies
- Improving the user experience for online customers
- Increasing sales
- Getting the materials and support needed for the onboarding of the technology
- Getting advisory services on particular aspects of the digital adoption plan
How to apply for a CDAP grant program?
- Visit the CDAP page on the Government of Canada website, and determine which grant you may be eligible for.
- Connect with a local service provider who will help you develop a spending plan and apply for the grant.
- Get the grant approved.
Grow Your Business Online Grant – $2,400 in funding
This is the perfect grant for those who want to grow their eCommerce stores and business online.
This grant can cover costs related to the following:
- Hiring an agency that helps you plan and implement a digital solution
- The implementation (or improvement, for that matter) of a digital e-commerce platform
- Search engine optimization (SEO)
- Software solutions that support your e-commerce strategy
- Social media advertising
- Creating customer databases
- Cyber security
- Any hardware and software purchases
Eligibility Requirements
- You must be a registered or incorporated for-profit and consumer-facing business.
- You must have at least one employee (apart from the owner).
- You must commit to maintaining your digital adoption strategy for 6 months.
Boost Your Business Technology Grant – $15,000 in funding
This grant is designed for larger businesses ready to adopt new digital technologies.
For those who need to consolidate their back-office software, that need better cybersecurity tools, and more.
Similarly, this grant can cover costs related to the following:
- Hiring an agency that helps you plan and implement digital solutions and strategies
- Getting advice on technologies that can propel your business forward
- and everything else in between.
In addition, it offers up to $100,000 (in interest-free loans) from the BDC (Business Development Bank of Canada) to implement those technologies, helping you achieve your business goals and increase your competitiveness in the digital economy.
Eligibility Requirements
- Your business must be incorporated federally or provincially or be a sole Canadian resident proprietor.
- You must be a for-profit, privately owned business with 1-499 full-time equivalent employees (if you have at least $500,000 in annual revenue in one of the previous years.)
- You must have completed a digital adoption plan and submitted it to CDAP.
Bottom line
You may be eligible for these generous grants if you meet these criteria.
Applications are accepted on a first-come, first-served basis, so you will want to act quickly to take advantage of this opportunity.
If you are not sure which grant is right for you, if you are eligible or how to apply, contact us to book a FREE consultation.
We work with approved digital advisors, and we are bilingual in Chinese and English.
Our team of experienced advisors will be able to answer your questions and help you make the MOST of the CDAP grant program for your business.
Let’s take your business to the next level… together!
