Business Grants in Quebec – A Growing and Vibrant Economy
Business grants are not just a way of getting help with start up costs for starting a new business, or to help you pay off some debts. They can help a business to grow and succeed. They are called business grants because they are specifically given to businesses, individuals and communities to help them grow. So, what are the differences between a Quebec business grant and other grants out there?
The first difference is in the level of funding that is offered. Unlike some business grants in other states and provinces, those in Quebec do not have to be repaid. They are called non-rewardable grants and are therefore only offered to help organizations develop and improve their services and products. When you apply for Quebec business grants you can get money that never has to be paid back to you.
Another difference is the amount of money available. Small business grants in Quebec are only offered to those who are starting new businesses and not to existing ones. Those who are already in business must apply for a previously existing small business grant in order to get this money. In addition, there are many additional qualifications that must be met in order to qualify for Quebec business grants. This includes the amount of employees your business has, the percentage of sales in the area your business is in and the percentage of taxes that your business pays to the government.
Another thing that sets this type of grant apart from other types is the number of people or businesses that can apply. You must have at least five employees before you can apply and up to ten employees if you want to get the funds for larger businesses. Plus, you cannot get more than ten employees for your primary business and you can’t have any employees of the same trade in your community. This helps keep the grant funds within the community where it is needed most.
There are also a number of other criteria that make business grants in Quebec very attractive. One requirement is that your business must be registered with the Sociocultural council of Quebec. The business must also be at least four hundred feet from a public school and at least two hundred feet from a hospital. These two factors help to ensure that the businesses in the community are welcoming to people of all income levels. The presence of a grocery store is also important because people in the community need access to affordable grocery items. The grants also help to attract new businesses.
There are other criteria that go into being eligible for business grants in Quebec. A business must be at least fifteen years old and it must be trading. The owner must also be a resident of the community that it is located in. The company must also show that at least ten percent of its employees are original residents of the community. Quebec does offer a business grant for first time entrepreneurs. These grants can be used to pay for office rent or for the equipment that will be used in starting the business.
The funds available in business funding in Quebec are not only made available for people wishing to start up a business. They are also made available for small businesses that wish to expand. When a business expands it is easier for it to attract customers and grow. For example, if a business has been in existence for twenty years and it wants to expand, applying for a business grant in Quebec may be the best way to finance the expansion.
Business grants in Quebec also help create jobs in the community. A business is considered a job when it creates employment for someone. This creates an economic ripple effect throughout the community and helps to grow the economy. In short, business grants in Quebec help to grow a business, provide jobs for local residents, and grow the overall economy of the community.