A government grant is an amount of money that is granted to your business by the government and doesn’t need to be paid back. There are a variety of grants available to small and emerging businesses that help accelerate their growth. The grants can also be non-cash but equally helpful to a business, such as funding towards employee costs. It is greatly helpful for small businesses.

The first step would include thorough research about the available grants and creating a list of those which are relevant to your business. Each grant has an eligibility criteria, such as industry, location, business size, etc., and those must be carefully considered while applying. The next step would be creating a detailed business plan which includes how the grant would be spent and an implementation plan.

Since 1949 the federal government has afforded small businesses a reduction in income tax otherwise payable. This small business tax benefit currently takes the form of the Small Business Deduction

Wage subsidies help build businesses and provide employers flexibility in their hiring options. They are a financial incentive that encourages employers to hire eligible participants in ongoing jobs by contributing to the initial costs of hiring a new employee.