What Can CanExport SMEs Fund: Eligible Expenses and Projects
The CanExport SMEs program is a vital resource for Canadian small and medium-sized enterprises (SMEs) seeking to expand into international markets. By offering financial assistance, the program empowers businesses to overcome the barriers of entering new markets. This article provides a detailed overview of what the CanExport SMEs program can fund, helping applicants plan their projects effectively.
Overview of CanExport SMEs Funding
CanExport SMEs provides up to $50,000 to cover 50% of eligible export marketing costs for businesses. This funding helps companies pursue opportunities in international markets where they currently have little or no sales. To ensure you understand all the funding possibilities, consult the complete program guide.
Eligible Expenses
Funding from CanExport SMEs covers a wide range of activities essential for successful market expansion. Here are some categories of eligible expenses:
Travel to Foreign Markets: Includes costs for airfare, accommodation, and meals for business trips aimed at exploring new markets.
Participation in Trade Missions and Shows: Expenses related to attending international trade fairs, exhibitions, and business networking events.
Market Intelligence Gathering: Costs for obtaining market research, custom reports, and competitive analyses that aid in strategic decision-making.
Intellectual Property Protection: Fees for applying for patents or trademarks in international jurisdictions.
Marketing Materials: Expenses for translating, adapting, or creating promotional materials tailored to the target market.
Expert Legal and Business Advice: Consulting fees for legal, tax, or business strategy advice related to international expansion.
For a detailed list and current funding rates, visit the complete program guide.
Ineligible Expenses
While the program is generous, some expenses do not qualify for funding. These typically include:
Routine operational costs unrelated to export activities.
Capital asset purchases like machinery or real estate.
Costs incurred prior to application approval.
Salaries of existing employees not directly related to the funded project.
Real-World Examples of Funded Projects
Examples of successful projects include a Quebec-based company expanding its water resource management solutions to Europe and a gaming company adapting its products for international audiences. These projects demonstrate how diverse industries can leverage CanExport SMEs to achieve global growth.
Funding Disbursement Process
CanExport SMEs operates on a reimbursement basis, meaning businesses must initially cover their expenses. Once approved, they can claim eligible costs by submitting detailed records, such as invoices and receipts. For more information on how to claim funding, refer to the complete program guide.
Conclusion
The CanExport SMEs program offers substantial support for businesses looking to expand internationally. By covering critical expenses related to market entry, this program enables Canadian SMEs to unlock new growth opportunities. To ensure your project aligns with the program's funding criteria, consult the complete program guide for comprehensive details and application requirements. Take advantage of this opportunity to propel your business onto the global stage.
