The Boost your Business Technology Stream will offer support to small and medium Canadian-owned businesses (SMEs), such as small manufacturing and food processing operations, to adopt new technologies. Support for these businesses will be in the form of grants to offset the cost of retaining Digital Advisors who will develop digital adoption plans tailored to the business. The grant will cover 90% of the cost to develop the digital plan, up to $15,000. To support the implementation of the plan, the SME will be able to apply for a zero-interest loan from the Business Development Bank of Canada (BDC) (up to $100,000) as well as a wage subsidy up to $7,300 for a youth placement.
The Boost Your Business Technology grant offers support to Canadian-owned small and medium sized enterprises (SMEs) who want to adopt new digital technologies.
Eligible businesses will have access to a marketplace of experts to help them develop a digital adoption plan tailored to their needs.
Eligible businesses can leverage the grant to pay for the services of a digital advisor. These advisors will work with companies to recommend digital pathways and strategies that will help them achieve their business goals and increase their competitiveness in the digital economy.
The grant covers up to 90% of the eligible cost of retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME, to develop a digital adoption plan.
Businesses also have the opportunity to secure a 0% interest loan from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of talented post-secondary students and recent graduates through subsidized work placements.