“Unlock Your Success Story: Propel Your Small Business Forward with the Small Business Success Grant“
Provided by: SBSG Canada
Current Stage Deadline: September 8th, 2023
Apply via the Funding Database
The early stages of a startup can often be the most challenging.
SBSG understands that getting your new business off the ground can be an exhilarating yet challenging journey. The Small Business Success Grant Program, which offers up to $1,500 in non-refundable funding, is designed to support small businesses like yours and help you turn your great ideas into successful ventures.
Small Business Success Grant Overview
The Small Business Success Grant is a program specifically created for new, for-profit, privately owned businesses located in Northwest Territories.
If your business has generated no more than $10,000 in annual revenues, you’re eligible to apply. What’s even better? You can use this grant as you see fit to further the growth of your business. There are absolutely no strings attached!
Here’s a sneak peek into what this program offers:
$1,500 – a Non-Refundable / Non-Repayable Grant
No credit checks required – or minimum revenue requirements
Grant Writer Not Needed
No Restrictions on how you can use the funds
Matching Contributions are not required to be eligible
Applying to the Small Business Success Grant Program is unlike any other program currently available – as it is available to you with the bare minimum in requirements and eligibility.
WANT TO LEARN MORE?
Finding Government Funding For Your Small Business
SBSG Program Eligibility Criteria
To qualify for the Small Business Success Grant, you must meet the following criteria:
Your Location:
Your business must be located in Northwest Territories.
Business Age:
Your business should be less than 1 year old – from the registration date.
Revenue:
Your business should have generated no more than $10,000 in revenue since its inception
Registration:
Your business registration process should be completed. This can be done via federal or provincial incorporation or a Canadian resident sole proprietorship.
Documents:
You must provide a complete business plan and PitchDeck presentation to be considered.
Membership:
You must have a valid membership with Northwest Territories Startups, which you register for here – or submit a $20 application if you are a non-member.
Securing a grant can significantly boost your business’ potential by providing the much-needed capital to move your startup forward.
Whether it’s for purchasing essential equipment, funding marketing efforts, managing cash flow, or covering payroll, the grant can cater to various needs.
The Small Business Success Grant provides an excellent opportunity for Canadian entrepreneurs. Unlike other grant programs, there are no
strings attached. You can use the funds as you see fit to drive your business growth.
Application Process
To start the application process for the Small Business Success Grant offered by SBSG.ca, complete the initial form found on the website to put in the request. Shortly after, the application steps will be emailed to you.
Along with your completed application form, compile all the necessary documents and information and submit your application before the deadline presented on sbsg.ca
Remember, providing accurate information and a well-prepared business plan is essential to increase your chances of receiving the grant. The application process is straightforward, and no professional grant writer is needed.
Good luck with your application!
Frequently Asked Questions
What is the Small Business Success Grant?
The Small Business Success Grant is a funding program offered by Canada Startups, providing up to $1,500 in non-refundable funds to new, for-profit, privately-owned businesses in Northwest Territories.
Who can apply for the grant?
To be eligible for this grant, your business must be less than a year old, located in Northwest Territories, have an annual revenue of no more than $10,000, and be either federally or provincially incorporated or a Canadian resident sole proprietorship.
How can I use the grant funds?
The grant money can be used for any business-related expense, including purchasing equipment, marketing and advertising, managing cash flow, covering payroll, and more. There are no restrictions on how you can spend the funds
Do I need to have good credit to apply for the grant?
No, a credit check is not required for the application. This grant program aims to support new businesses and does not require a credit check or a minimum revenue requirement.
Do I need to hire a grant writer to apply?
No, you do not need to hire a grant writer. The application process for the Small Business Success Grant is simple and straightforward.
When is the application deadline?
The next deadline to submit applications for the Small Business Success Grant program is September 8th, 2023.
How competitive is this grant?
Grants are generally competitive, as they are a popular form of funding, especially for new businesses. However, the exact level of competition varies based on the number of applications received during each application period.
Do I have to repay the grant?
No, the grant is non-refundable, meaning you do not have to repay the money
How can I apply for the grant?
To apply for the grant, you need to complete and submit the application form, along with the required documents and information, on the Northwest Territories Startups website before the application deadline.
Can I apply for the grant if my business is not incorporated?
Yes, you can apply if you are a Canadian resident sole proprietor. However, the business registration process must be completed.
Application Checklist
It is always a good idea to follow a checklist to determine that you have all that you need to successfully apply for the grant program.
Before you start, it is essential to confirm the following:
- Is your business located in Northwest Territories?
- Is your business less than 1 year old?
- Ensure you have under $10,000 in revenue
- Your business must be registered
- Have your valid membership to Northwest Territories Startups (or be prepared to pay the $20 application processing fee)
In terms of the documentation required to apply; you must have your 3-year financial statements and proper business plan – ensure this is reviewed by an expert and given the go-ahead. Be sure to have your PitchDeck presentation ready to go, and approved by an expert. If you have a website, ensure it is reviewed by an expert to evaluate and increase your chances of success with the Small Business Success Grant. For added security, you can register as a member of Northwest Territories Startups here: www.NTstartups.org/purchase – to ensure you can get expert help with your business plan, financials, pitch deck, and funding search, and application steps.
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