Ontario’s agri-food sector is a powerhouse of growth and innovation, generating over $40 billion annually. Whether you are a processor looking to adopt new technologies or a producer interested in expanding your market reach, Ontario offers a wide range of resources and funding opportunities to support your business growth. This blog highlights essential tools for marketing, technology adoption, exporting, and financing that will help your agri-business thrive.
Marketing Resources for Agri-Businesses
Effective marketing is crucial for scaling your business. Ontario provides several resources to help promote your products both locally and internationally:
- Find Your Local Markets: Tap into the growing demand for local food through Ontariofresh.ca, a free online platform connecting Ontario food producers with wholesale buyers.
- Canada Brand: Promote the “Canada” Factor: Gain access to exclusive marketing tools like high-quality Canadian imagery, professional photography, and market research through the Canada Brand program, designed to promote the competitive advantages of Canadian agri-products internationally.
Technology and Innovation Resources
Adopting new technologies and innovative practices is essential for staying competitive in the agri-business sector. Here are some key organizations offering support:
- Ontario Agri-Food Technologies (OAFT): Stay ahead of the competition by leveraging the latest trends in food science and technology through Ontario Agri-Food Technologies, which offers commercialization support and industry awareness.
- Bioenterprise Corporation: As an accelerator, Bioenterprise Corporation helps agri-tech businesses with business planning, marketing strategy, and access to capital. Their focus includes crop science, bio-products, and agri-based energy solutions.
- MaRS Innovation and Discovery District: The MaRS Innovation hub supports companies in the commercialization stage, offering mentorship and resources for bringing cutting-edge products and services to market.
- Canadian Food Innovation Network (CFIN): The Canadian Food Innovation Network’s (CFIN) program is designed to support for Canadian food and beverage businesses looking to improve the industry through research and development, new product and services adoption, and innovation.
Exporting: Going Global with Agri-Products
Exporting can significantly expand your market reach. Here are some resources to help you navigate exporting regulations and find new opportunities:
- International Trade Show Opportunities: Through the federal government’s Trade Show Service, Ontario businesses can participate in international trade shows under the Canadian pavilion, giving them a platform to showcase their products.
- Export Development Canada (EDC): EDC provides financial tools like Portfolio Credit Insurance and the Export Guarantee Program to help you manage risks and expand into new markets confidently.
Agricultural Specific Credit and Venture Capital Opportunities
Financing is a critical concern for agri-businesses, particularly for those facing challenges with cash flow and production. Fortunately, there are industry-specific venture capital and credit opportunities available:
- Avrio Ventures: Avrio Ventures provides venture capital to innovative agri-businesses, focusing on companies that offer significant technological advances. Learn more about Avrio Ventures’ financing options, which include value-added food processing, agricultural biotechnology, and food technology.
- Sustainable Canadian Agricultural Partnership (SCAP): The SCAP program is a five-year, $3 billion investment that helps agri-businesses invest in new technologies, adopt clean tech solutions, and improve value-added processes. Ontario businesses can access funding through streams such as AgriInnovate and AgriAssurance.
- Export Development Canada (EDC): For businesses looking to expand globally, EDC offers tailored financial services, including credit insurance and foreign exchange guarantees, allowing you to protect cash flow while expanding into international markets.
Government Tax Credits for Agri-Businesses
Tax credits are an excellent way to save money, especially for businesses investing in training or research and development:
- Federal Apprenticeship Job Creation Tax Credit (AJCTC): Businesses that hire apprentices in Red Seal trades can receive up to $2,000 per year through the AJCTC program, helping to offset training costs.
- Ontario Co-op Education Tax Credit (CETC): Employers who hire students from recognized co-operative programs at Ontario universities or colleges are eligible for the CETC, a refundable tax credit.
- Scientific Research and Experimental Development (SR&ED): The SR&ED tax incentive program supports businesses conducting research and development in Canada, offering substantial savings on R&D investments.
Grow Your Agri-Business
Scaling your Ontario agri-business is easier with the right resources and supports. Whether it’s marketing your products more effectively, adopting cutting-edge technology, expanding to global markets, or accessing much-needed financing, Ontario offers a wealth of opportunities. Be sure to explore the variety of funding programs available to take your business to the next level.
If your business is looking to expand, adopt new capital or tech, hire or train staff, or even invest in research, you must take advantage of Canadian government grants. The Canadian government opens various programs each year to support businesses with grant funding. To find the right grants for your business, visit our funding directory, or contact us today!