The 5 Best Small Business Grants in BC

In recent years, British Columbia (BC) has transformed into a vibrant hub of entrepreneurship, with more than 510,700 small businesses contributing to the province’s economy. Unlike small business loans , small business grants in BC provide essential financial aid that can fuel up newly-registered businesses and established businesses alike, allowing them to access the capital they need without having to worry about repayment.

These grants are an incredible opportunity, enabling entrepreneurs to breathe life into their ideas, expand existing operations, or survive during hard times. In this article, we have compiled a list of the 12 best small business grants available in BC, which you can use to secure funding and support for your business endeavours in the province.

1. Futurpreneur

Futurpreneur Canada is a national non-profit organization dedicated to empowering young entrepreneurs between the ages of 18 and 39. For more than two decades, they have been passionate about driving economic growth in Canada by providing financing, mentoring services, and tools designed for business success. So if you don’t know how to start a business in BC , their resources might help you to start a business journey. Futurpreneur invested an impressive $200,000,000 in over 13900 new ventures.

In addition to small business loans of $60,000, Futurpreneur offers grants through RBC Rock My Business Start-up Awards program. This program is available for start-up businesses and can give you a significant boost to your entrepreneurial career.

2. Canada Media Fund

The Canada Media Fund (CMF) is a not-for-profit dedicated to driving the creation of cutting-edge Canadian content and software applications for today’s, as well as tomorrow’s, digital platforms. Backed by contributions from the Government of Canada and cable, satellite, and IPTV distributors nationwide.

They offer two distinct funding streams with various funding programs: The Experimental Stream is designed to stimulate innovation in interactive media projects on any digital platform. In contrast, their Convergent Stream provides assistance with creating converged television & digital media content. So if you produce media content, grants provided by CMF can help you with valuable financial support and resources to help bring your project to life.

3. Mitacs

For over 15 years, Mitacs has been playing a pivotal role in driving Canada’s social and industrial innovation. As a national non-profit organization, they have designed and implemented research programs across the country to bring businesses, government entities, and academic institutions together. Over 75% of all businesses in Mitacs programs are SMEs, so if you need a small business grant in BC for research projects, Mitacs might help you.

Mitacs offers several programs to fund research projects. For instance, Mitacs Accelerate provides funding for internships that link graduate students and postdoctoral fellows with businesses on research initiatives. Additionally, Mitacs Elevate funds postdocs so they can work together with companies while receiving essential leadership and business training as well.

4. PacifiCan

The Government of Canada has launched PacifiCan , a new economic development agency focused on British Columbia. Through the implementation of innovative approaches to growth and diversification in B.C.’s economy, this organization looks to improve business competitiveness while promoting inclusivity across all sectors.

PacifiCan is devoted to helping businesses reach their full potential through funding opportunities. Whether you’re just registered a business in BC or want to take your enterprise global, they provide the resources necessary for success. They provide several funding programs, including funding for Francophone and indigenous projects, Business Scale-up and Productivity (BSP) program, and others . Most of these programs provide interest-free business loans for up to 5 years.

However, PacifiCan also funds grants through The Strategic Partnerships Initiative (SPI). This initiative focuses on helping indigenous businesses and organizations. You can find a complete list of grants with eligibility criteria and funding available at the BC provincial government website .

5. Canada Digital Adoption Program?(CDAP)

The Canadian government is taking a huge step to assist small and medium-sized businesses by providing an incredible $4 billion through the Canada Digital Adoption Program (CDAP) . This program seeks to help these companies implement new digital technologies essential for growth, success, and competitiveness. Currently, there are 2 grant programs provided by CDAP , including The Grow Your Business Online and The Boost Your Business Technology.

This article is the shortened version of an article originally published on Hardbacon.ca by Yuri Sychov under the title The 12 Best Small Business Grants in BC .