Immigrant Business Grants: 9 Funding Programs for Immigrant Entrepreneurs in Canada
If you’re looking for a new immigrant business grant, you’re in the right place! Because this is the most comprehensive guide to funding for Canadian immigrant businesses on the web.
In this guide we cover not only grants for immigrants to Canada, but also loans, investment programs, in-kind support, and much more.
Let’s get into it…
What is an Immigrant Business Grant?
The Government of Canada defines a grant as:
a transfer payment subject to pre-established eligibility and other entitlement criteria. A grant is not subject to being accounted for by a recipient nor normally subject to audit by the department. The recipient may be required to report on results achieved.
So, an immigrant business grant is:
What Can Immigrant Business Grants Be Used For?
Immigrant business grants can be used to pay for many aspects of starting or running a business. Here are some of the uses that are covered by programs in our grants database:
And that’s just a sample! See the section below with a complete list of immigrant grants available.
How Much Grant Money Can I Get for My Immigrant Business?
In our database we currently have one grant for $10,000.
Am I Eligible for an Immigrant Business Grant? Common Eligibility Criteria
Two of the most common questions we get asked at Ontario Business Grants are “Am I eligible?” and “How do I qualify?”.
We analyzed the Immigrants business grants in our grants database, and these are the most common qualifications we identified:
Note: these are just the most common eligibility criteria – there are many grants with different requirements.
How to Apply for Immigrant Business Grants: Follow These 6 Steps
The application process for grants can be complex, but you can increase your chances of getting your application approved by following a formula with a proven rate of success. Here are the steps to get the funds you need for your business:
- Gather a comprehensive list of all current grants. In Canada, hundreds of business grants are available for different industries, demographic groups, and purposes. Learn what is out there and cast a wide net when you apply to maximise your chances of securing funds.
- Focus on grants related to your industry. Review the application requirements to find out whether your business is eligible. When your business goals fit a particular type of grant, you have better chances of getting matched to it. You want to devote your time and energy to grants where you have the highest potential of winning.
- Reach out to the grant agencies directly. If you want to gain more understanding on what qualities the agencies are looking for in their grant applicants, there is no better way than to go right to the source. If possible, ask the agency questions and look for areas where you can stand out from the rest.
- Make a plan for your grant application. This plan should include a one-page draft of your grant application statement.
- Organise your documents. Grant organisations often ask their applicants to provide a business plan and other pertinent documents. If you organise your documents in advance, you’ll be ready to submit them when the grant agency requests them.
- Submit a well-thought-out application. If you follow the five steps above, your application will have a good chance of getting approved.
Bonus Tip:
- Don’t miss other types of funding. Grants represent just one type of funding – there are many other types of funding. This is especially important for immigrant entrepreneurs because there are relatively few grants available for this group. Other types of funding include low-interest loans, wage subsidies, tax incentives, competitions, incubators and accelerators, and many more.
Immigrant Grants for Business: Current Grants Available
In the table below we list the grants currently available to immigrant entrepreneurs.
To learn more about each program, just click the program name and you’ll be taken to a web page that provides detailed information on the program, including eligibility, the dollar amount of the program, and how to apply for the grant:
$15,000
Grant
Newcomer and Refugee Artist Mentorship program provides support for newcomer and refugee artists to develop their artistic practice and to further their integration and inclusion to Toronto. We define a newcomer as: an immigrant or refugee who has lived in Canada for less than 7 years; a refugee is a person who was forced to leave their home country and is now located in Canada.
No funding involved
In-Kind Support
The Immigrant Founder Launchpad is a collaboration between Invest Ottawa and Maple Bridge Ventures.
The Immigrant Founder Launchpad will prepare first-generation immigrant tech founders to raise investment.
In five weeks, we will cover topics like developing your financing strategy, achieving and demonstrating traction, and perfecting your pitch. Most importantly, the program will open doors by providing exclusive networking opportunities and warm introductions to potential funders.
$50,000
Loan
BDC is the bank devoted to Canadian entrepreneurs. We provide financing and advisory services to small and medium-sized businesses at every stage of growth. This includes access to the right tools and resources, such as training, networking, partnerships and more.
The Bottom Line
There are a handful of great programs to start a business in Canada if you’re a new immigrant looking for funding.
But remember: grants for immigrants is just one of the many angles that you should be investigating in your search for business funding.
You should be looking for grants, loans, wage subsidies and the many other types of financing that are available for different demographic groups, industries, and purposes of funding. Happy money-hunting!