On February 19, 2024 the Government of Canada announced that the Boost Your Business Technology grant was fully subscribed and will no longer accept new applications. However, it’s never too late to explore digital transformation possibilities for your business
On February 19, 2024 the Government of Canada announced that the Boost Your Business Technology grant was fully subscribed and will no longer accept new applications. However, it’s never too late to explore digital transformation possibilities for your business
Developing your strategic plan and roadmap is just the beginning. You also need to execute throughout your transformation journey. Our comprehensive and highly skilled team of digital transformation architects and solutions for small and medium-sized businesses provide ongoing support to help you modernize your business technology.
When you’re ready to begin your transformation, utilize CDAP’s additional funding opportunities to ensure your investment goes as far as possible.
Businesses that are eligible for the Boost Your Business Grant can also qualify for an interest-free loan through the Business Development Bank of Canada (BDC). This loan can be used to implement your roadmap and facilitate the purchase of new technology.
Building a skilled and dynamic team is vital for a successful digital transformation. Maximize your business’s digital potential by accessing wage subsidies of up to $7,300 per eligible hire through Magnet. Hire talented youth equipped with the skills needed for digital adoption.
Your digital adoption plan is a comprehensive assessment of the opportunities to improve your business by leveraging modern hardware and platforms. Specific deliverables you will receive from MNP include:
No. The Boost Your Business Technology grant is intended to assess your digital maturity and opportunities to increase your competitiveness through digital transformation. Eligible costs are limited to those involved with creating your digital adoption plan, including:
Your digital adoption plan will provide a comprehensive roadmap of your priorities, including timelines, budgets, and a cost benefit analysis of relevant platforms and strategies. This would be the end of our engagement from a Canada Digital Adoption Program perspective. However, it is merely the beginning of your overall transformation journey.
We look forward to continuing with you through the implementation phases. Having already formed a deep understanding of your transformation needs, engaging our team will make for a seamless transition from planning to execution. As a full-service firm, we have the people, expertise, and relationships in place to ensure you get the best return on your digital investment.
To support your digital transformation, you can apply for an interest-free loan of up to $100,000 from BDC, provided you’ve worked with a digital advisor to complete a digital adoption roadmap.
The loan covers expenses related to your plan. Some examples include:
Loan amounts vary based on business revenue, ranging from $25,000 to $100,000 with zero percent interest. The loan comes with a five-year term and a 12-month capital postponement.
To ensure you don’t miss out, apply for the BDC loan within six months of creating your approved digital adoption plan.
In December 2023, the eligibility criteria and limits were updated for the BDC loan, including:
Employers approved for the Boost Your Business Technology Grant are eligible for wage subsidy funding of up to $7,300 per new hire. This funding helps employers hire young individuals who can assist in implementing new technologies and digital strategies.
To be eligible, youth participants must be aged between 18 and 30 and be Canadian citizens, permanent residents, or refugees with the right to work in Canada.
Employers who meet the eligibility criteria can post jobs on the Boost Your Business Job Board or find youth participants through their network or referrals.
In November 2023, updates were made to the wage subsidy program to better serve businesses and youth hires, including: