FINANCIAL SECURITY TIPS FOR SMALL BUSINESS INVESTMENT IN CANADA

Figures from Statistics Canada show that about 96% of small businesses in Canada survive one year, 85% survive three years, and 70% survive five years. The maintenance of a business depends on many factors, of which the financial security of the business is perhaps the most important. Here are tips to help you secure your business finances:

How to Secure Small Business Financing When Investing in Canada

In Canada, there are different ways to generate revenue for your business. Some entrepreneurs will choose to build businesses with their own capital, some will use support from community resources, and others will try to accumulate years of experience to expand their reach. their look.

However, the above are not the only ways to maintain and secure your business finances. Entrepreneurs who are just starting out in business can find small business grants and loans that will help you maintain and grow your business, especially for entrepreneurs. Vietnam is starting to invest in this country.

Corporate Financial Support Offers From the Government of Canada

In Canada, the Government has always provided a variety of support for small businesses, from grants and loans to resources with different conditions with the aim of maximizing the benefits that businesses bring. back to this country.

Here are some support policies of the Government of Canada for small and medium businesses:

• Programs and services to support small business, based on the business's location. This program makes it easier for businesses to find subsidies and support from the Government of Canada.
• Coordinating with private financial institutions for loans to businesses.

Limitations of Government Subsidies

Many entrepreneurs hope to receive government subsidies without having to pay them back after securing and maintaining the business's finances. However, it is important for entrepreneurs to note that the cost that the Government of Canada supports is not large.

Packages and support programs available from the Government are generally designed for industries and areas that are being focused for development. The following keywords will help entrepreneurs easily receive support from the Government when searching for business support packages online: Awards (Awards), Contributions (Contributions), Shared costs (Support costs). grants), Subsidies, Rebates, Tax credits or tax rebates, Non-repayable loans.

Loan Guarantee For Your Small Business

Typically, loans are much easier to secure than grants. You might work with financial institutions, such as banks or credit unions. Applying for a loan from the above financial institutions will make your loan approval process easier.

In addition, the Government of Canada also facilitates loan programs. Canada's Small Business Grants Program was created to make it easier for small businesses to obtain loans from financial institutions by sharing risks with lenders.

Loans must be approved by a financial institution, you can participate in this program through any bank in Canada. Don't forget to prepare a perfect business plan to convince investors to see the growth potential in your business.

Find business investment consultants who need advice to help your business grow and succeed. Immediately contact the Canadian investment team of  Campbell Immigration for advice.