Starter Company Plus
At a glance
- Max. $5,000
- 75% of project cost
- Open Date : November 14, 2019
- Management of companies and enterprises
- Arts, entertainment and recreation
- Government of Ontario
Overview
Eligibility criteria
The eligibility criteria for the Starter Company Plus grant are:
- Being 18 years of age or older
- Being an Ontario resident and Canadian citizen (or permanent resident)
- Not attending school full-time or returning to school
- Being able to contribute at least 25% of the grant amount in cash or in kind
Who is eligible
Eligible types of companies for the Starter Company Plus Grant include:
- Registered businesses located in Toronto
- Businesses with majority ownership and proof of ownership
- Businesses with commercial business bank accounts
- Businesses in operation for up to 3 years (Early-Stage Startup Stream)
- Female-founded businesses in operation for 6 months or more (Female Founders Stream)
Who is not eligible
There are certain types of companies that are not eligible for the Starter Company Plus Grant. Ineligible businesses include:
- Nightclubs, lounges, cabarets, discotheques, music festivals and events
- Online businesses that are resellers
- Real Estate Investment Trusts (REITs), retirement homes, and long-term care homes
- Technology applications which are not market-ready
- Student housing and other residential rental accommodation
- Childcare centres, including daycares
- Home care for elderly and/or vulnerable populations
- Quasi-financial institutions or money service businesses
- Cryptocurrency businesses and traders
- Brokers handling funds for clients
- Franchises
- Collection agencies
- Businesses brokering funds for charities
- Charities and non-profits
- Recording artists and similar self-promoting activities
Eligible expenses
- Marketing efforts
- Equipment
- Commercial rent
- Legitimate start up expenses
Evaluation & selection criteria
Yes, there are evaluation and selection criteria for the Starter Company Plus grant:
- Business viability and potential for success
- Your experience and ability to operate the business
- Marketing and sales strategy
- Financial readiness and ability to contribute to the grant
- Potential for job creation
How to apply
- Step 1: Contact a Small Business Enterprise Centre
- Step 2: Apply for the grant through the Centre
- Step 3: Provide proof of eligibility and requirements
- Step 4: Wait for the application review process
- Step 5: If approved, receive the grant amount
Grant Summary
This grant provides support and funding opportunities for businesses and not-for-profit organizations in Ontario to help them start, grow, and succeed in various sectors, including Indigenous economic development, small business support, and technology innovation.
Exploring Business and Funding Opportunities in Ontario
Ontario offers a range of funding opportunities and programs tailored for business and not-for-profit ventures, aimed at fostering economic growth, job creation, and innovation. Entrepreneurs can access resources such as the Indigenous economic development initiatives, support for small businesses through programs like Starter Company Plus, and specialized funding for racialized and Indigenous entrepreneurs. These programs provide financial assistance, mentorship opportunities, and support services to help businesses thrive and succeed. By understanding the diverse funding options available, entrepreneurs can navigate the funding landscape more effectively and leverage resources to fuel their business growth.
Initiatives like Employee training programs, Futurpreneur, and the Digitalization Competence Centre aim to equip businesses with the necessary skills and technological tools to enhance their operations and remain competitive in today's market. Businesses can also explore opportunities for funding in different regions of Ontario, whether in Eastern Ontario, Northern Ontario, Southwestern Ontario, or Rural Ontario, to expand their reach and support local economies. Understanding the regulatory environment, such as permits, licences, insurance requirements, and workplace rules, is essential for businesses to operate legally and responsibly while safeguarding their assets and employees.
Additionally, businesses in Ontario can benefit from tax credit incentives, trade programs for export opportunities, and resources to enhance their market presence. Entrepreneurs can engage with Indigenous business development resources, access legal advice through Pro Bono Ontario, and explore investment needs with business consultants to facilitate growth and expansion. By leveraging technology and innovation centers, participating in the "Ontario Made" program, and collaborating with Small Business Enterprise Centres, businesses can gain access to valuable support, training, and networking opportunities to drive business success and contribute to Ontario's vibrant economic landscape.
