Boost Your Business Technology grant supports small businesses

May 26, 2023 – Through the Boost Your Business Technology grant, eligible small and medium-sized enterprises (SMEs) can access up to $7,300 in wage subsidy funding to hire a student or recent graduate to help support the implementation of new technologies or digital strategies.

The grant also provides up to $15,000 to get advice on the digital technologies that can propel a business forward, as well as access to an interest-free loan of up to $100,000 to acquire and implement new technologies.

The Boost Your Business Technology grant is one of two grants offered through the federal Canada Digital Adoption Program (CDAP).

Before applying for wage subsidy funding, employers must work with a digital advisor to establish a digital adoption plan. Once their plan is approved, SMEs will be able to hire an eligible youth and receive the accompanying wage subsidy.

Magnet is administering 16,800 funded work placements through CDAP, supporting employers with access to a nationwide pool of skilled students and recent graduates.

The grant can be used to get your business online, give your e-commerce presence a boost, or help you digitalize your operations.