Factors That May Be Stopping You from Receiving Government Funding

Factors That May Be Stopping You from Receiving Government Funding | EVAMAX Group

When you are about to start a new business, you are quizzed with a lot of issues chief amongst is money. Every startup requires finance for various purposes like for conducting marketing research, for hiring and training staff, for purchasing land or equipment, for paying for marketing and advertising, etc.

And what better way of achieving these funding goals than by asking the Canadian government for assistance.  

Canadian government helps SMEs in meeting their financial goals by offering them government funding for different purposes such as innovative business ventures, hiring and training and exports.  

Unfortunately, not every business receives them. There can be many reasons for this. Let’s discuss a few of them. 

Restrictive funds 

The government funds are granted for very specific purposes and have a strict criterion that needs to be fulfilled. A lot of times many businesses fail to completely match these requirements hence, they cannot be granted the amount they applied for.  

In connection with this, we at EVAMAX help businesses in recognizing which government grants and benefits they are eligible for. We make sure that they receive the maximum government funding they are entitled to. 

Related: Three Ways to Apply For a Business Grant in Canada

Failing to Target the Right Grant  

As an aspiring business entity, one must choose the right grant they qualify for and which is most beneficial to them. There are a number of grants available provided by the Federal Government of Canada but the dilemma is identifying which of these grants are applicable to your business. 
Nevertheless, if applicable grants are identified correctly, applicants can proceed to the next step which is meeting all the criteria and requirements of what the grant entails.  If qualifications are met and the paperwork is done properly, there is a high chance of getting approved for the grant and receiving the funding. 
Identifying the grant plays a vital role in the success of a grant application. It is by far, one of the most crucial steps that will need more than one head to have a deliberate decision. This can be time-consuming and cumbersome at times, but this is where grants consultants/experts like EVAMAX comes in handy. 

Related: How can Business Grants Bring Innovative Ideas to the Market

Highly competitive 

Many candidates apply for government funding every year and in-depth knowledge and expertise on grants application is compulsory in order to know whether you’re eligible or not. 

Grants application can be competitive in a way that only qualified businesses can be able to avail the funding opportunities. Thus, we offer a no-obligation grants consultation for Canadian companies for pre-assessment whether there are areas or business activities that might meet the requirements. 

We at EVAMAX can assist you in perfecting the process of how to identify and apply for these grants to make sure that you receive the necessary financial assistance for your business. Contact us today!


Author Bio:

Bernice Allen is a SR&ED & Government Grants Adviser. Helping businesses in Canada & the US find funding for Innovation, Hiring, Export and other verticals. Follow her on Twitter, Facebook and Linkedin.

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