Two new grants available to Canadian restaurants

Article Published March 4, 2022
Article Source: Two new grants available to Canadian restaurants - Restobiz

Eligible Canadian restaurants now have two further grants potentially available to help cope with the impacts of COVID-19.

On March 4, Prime Minister Justin Trudeau announced the launch of the Canada Digital Adoption Program (CDAP) to help Canadian small and medium-sized businesses.

The program aims to assist these businesses, including restaurants, in growing their online presence and upgrade or adopt digital technologies. For some businesses, this may mean adopting e-commerce solutions to sell goods and services and reach new markets; for others, it’s about leveraging technology to improve productivity and boost online offerings.

The first grant available via the CDAP, the Grow your Business Online grant, will provide businesses with $2,400 and the guidance of an e-commerce advisor to help smaller restaurants, service businesses, retail, and tourism facilities adopt digital technologies and take advantage of e-commerce opportunities.

Meanwhile, the Boost your Business Technology grant will provide businesses with up to $15,000 and the guidance of expert digital advisors to further improve their productivity and become more competitive. It provides grants covering 90 per cent of costs up to $15,000 to access advisory services to develop a digital adoption plan, opportunities for student placements, and eligibility to apply for an interest-free loan of up to $100,000 through the Business Development Bank of Canada (BDC).

The CDAP is expected to support as many as 160,000 small businesses and help create thousands of jobs, including nearly 30,000 job placements for young Canadians to gain valuable work experience.

SMEs interested in applying for a grant or loan under the CDAP can answer a few quick questions online to help determine the funding that is best suited to meet their needs.