Government grants and interest free loans made available to small and medium-sized Canadian businesses to modernize their technology

TORONTO, Oct. 04, 2022 (GLOBE NEWSWIRE) -- An increasing number of organizations are taking advantage of the Canada Digital Adoption Program (CDAP) and claiming their share of the total $4 billion funding package. The program is targeted at Canadian small-medium sized businesses to improve the way they operate by helping them adopt a more digital approach. 

Up to $15,000 is available per business through the Boost Your Business Technology stream of the grant, to be used to offset the costs of partnering with a digital advisor, such as Couch & Associates, who will plan out a unique digital strategy. A further $100,000 is available in the form of an interest-free loan, to purchase and implement new technologies.

The Business Development Bank of Canada states that the investment aims to support 160,000 businesses over a period of four years.

“Canada’s small and medium-sized businesses need more tools, more resources, and more financing to go digital. This is what our clients shared with us and the reason why BDC is so pleased to be part of the Canada Digital Adoption Program and offer advice and zero per cent interest loans to entrepreneurs, helping them meet their clients’ evolving needs. This is an investment in Canada’s future competitiveness and growth.” - Isabelle Hudon, President and CEO, Business Development Bank of Canada.

Focusing on the long-term, grant recipients will benefit from the solid foundation created by strategy and roadmap development, before implementing any new technology. A digital advisor will help to establish which business area should be targeted for improvement, such as improving the customer experience or better connecting internal teams, and then get to work defining a roadmap for the way forward.

Anita Cordeiro has seen a flurry of requests come into Couch & Associates for support in getting started on the program, “As an advisor for the Boost Your Business Technology stream, we’re seeing a great deal of interest from Canadian business owners, from coast to coast, who want to become more digitally mature. Really, any business unit can benefit from the initiative but, we home in on areas that are underperforming or where there is a significant improvement to be made through technology.”

For eligibility criteria and steps on how to apply, visit: https://couch.associates/cdap/

CONTACT: Contact: Anita Cordeiro +1 877 837 9477