There is some good news for small and medium sized businesses in Canada. The Government of Canada has committed in 2021 to help organizations in their digital transformation journey through a grant and some interest free loans to implement these digital transformations. The program is run through the Canadian Digital Adoption Program (CDAP) and Business Development Bank of Canada (BDC).
The program’s Stream 2 helps SMEs improve their company’s technologies. The application will be open shortly.
- A grant to consult with recognized and approved advisors to prepare digital adoption plans. The grant will cover 90% of the costs of preparing the digital plan, up to a maximum of $15,000.
- To support the implementation of the plan, the SME may also apply for an interest-free loan from the Business Development Bank of Canada (BDC), up to $100,000. The SME may also be granted a wage subsidy of up to $7,300 for hiring young people.
You will soon be able to register for stream 2 here.
Want to learn how Digital Fractal advisors can help you in your digital transformation journey? Contact us here.