Find out if this grant for small and medium Canadian businesses is right for you.
The Government of Canada created the Boost Your Business Technology grant to help small and medium businesses develop their digital technology.
Adopting digital technology to elevate your business in today’s digital market can be expensive.
With the CDAP program, small and medium businesses may be eligible to receive up to $122,300 in cumulative funding through the CDAP program.
Does your business meet the eligibility criteria to access the grant and additional funding?
In this article you’ll learn:
- What is the CDAP Boost Your Business Technology grant?
- What are the eligibility criteria to receive the Boost Your Business Technology grant?
- What is a CDAP-approved digital adoption plan?
- What are my next steps?
Let’s get started with the basics…
What is the CDAP Boost Your Business Technology grant?
The Canadian Digital Adoption Program (CDAP) was designed by the Government of Canada to help Canadian small and medium sized enterprises (SMEs) enhance their digital technologies.
This includes (but isn’t limited to) upgrades like:
- Acquiring IT equipment
- Installing new softwares
- Updating IT or HR equipment to improve internal processes
- Training staff on onboarding new software and technologies
- Improving cyber-security and transaction software
Digital adoption is intended to help businesses to grow and thrive in marketing and e-commerce.
A digital adoption strategy can also help businesses improve sales, efficiency and staff retention – all of which are good for business, and good for the economy.
What are the eligibility criteria to receive the CDAP Boost Your Business Technology grant?
In order to qualify for the CDAP Boost Your Business Technology grant, your SME has to meet certain criteria.
Here’s what you need to know to determine whether you qualify for the grant:
- You must be the owner or director of your business
- Your business must be Canadian owned
- Your business must be for-profit
- Your business must have 1 – 499 employees
- Your business’s annual revenue must have reached at least $500,000 in one of the last three tax years
The Boost Your Business Technology grant is a grant of up to $15,000 provided to SMEs to receive a CDAP-approved digital adoption plan.
What is a CDAP-approved digital adoption plan?
The CDAP Boost Your Business Technology grant of up to $15,000 allows you to consult a digital advisor to develop a digital adoption plan tailored to your unique business goals and tech needs.
A digital adoption plan is your roadmap to digital transformation.
Take a look at this graphic we put together to outline the basics of how a digital adoption plan works:
Access additional funding with your CDAP-approved plan
With a CDAP-approved digital adoption plan, you may qualify for an interest-free loan of up to $100,000, and $7300 in youth wage subsidies to hire Canadian youth to help you roll out some of your digital strategies!
This loan can be used to implement your digital adoption strategies highlighted in your plan.
Work with a CDAP-Approved Digital Advisor, who will help you register for the grant, develop your digital adoption plan, and help you submit this plan to unlock the 0% interest loan.
What are my next steps?
If you DON’T meet the eligibility criteria noted above, the Grow Your Business Online grant may be a better fit for your business.
If you DO meet the eligibility criteria above, you can begin the application process on your own online – OR, you can reach out to one of our agents to help you get registered.
Book a FREE 30-Minute Zoom session with one of our CDAP-Approved Digital Advisors.
- Book your appointment straight into our calendar, OR
- LIVE CHAT to book your appointment by starting a conversation with one of our friendly agents who can answer your questions and book your session for you. You’ll find our chat feature towards the bottom right, on all pages on this website.
We look forward to hearing from you!