Missed Applying for CanExport? Here’s Some Other Funding Options
Exporting is crucial for the Canadian economy – it drives economic growth, creates jobs, and enhances the competitiveness of Canadian businesses on a global scale. By accessing international markets, Canadian companies can diversify their customer base, reduce dependency on the domestic market, and increase their revenue streams. Exports also stimulate innovation as companies adapt their products and services to meet global standards and preferences.
According to the Government of Canada, exports contribute significantly to the country’s GDP, with merchandise exports alone accounting for about 30% of Canada’s economic output. Additionally, the diversification of markets helps mitigate risks associated with economic downturns in any single region, thereby promoting a more stable and resilient economy.
Read our article on Canadian Exporting Trends and access important resources to help your business break into export markets.
CanExport Closed May 31, 2024
The CanExport program has long been a cornerstone of Canada’s support for small and medium-sized enterprises (SMEs) looking to expand their export activities. Offering up to $50,000 in funding, CanExport helps eligible SMEs by covering up to 50% of the costs associated with market research, participation in trade shows, and other export-related activities. The 2024 CanExport intake closed on May 31st. While we anticipate the popular program opening next year, many businesses may find themselves seeking alternative funding sources to fuel their international growth.
If you missed the deadline for CanExport, don’t worry—there are several other excellent funding programs designed to help Canadian businesses succeed in the global market.
Alternative Export Funding Programs
CanExport Innovation
The CanExport Innovation program is designed to support Canadian innovators, researchers, and SMEs in establishing R&D collaborations with foreign partners. This program offers funding of up to $75,000 per project, covering up to 75% of eligible expenses. To qualify, applicants must be for-profit companies registered in Canada, Canadian research institutions, or Canadian non-profits involved in commercializing innovation. Eligible activities include traveling to meet with potential partners, attending conferences, and other activities that foster international R&D collaboration.
Export Development Program – Nova Scotia
The Export Development Program offered by Invest Nova Scotia aims to support businesses in Nova Scotia looking to explore new international markets. The program provides funding of up to $15,000 per fiscal year, covering 50% of eligible costs. Eligible activities include participation in trade missions, market research, and development of export marketing materials. To qualify, businesses must be based in Nova Scotia, registered with the province, and demonstrate export readiness and potential for market growth.
For more information, visit the Export Development Program – Nova Scotia page.
Creative Export Canada
Creative Export Canada (CEC) supports Canadian creative industries in exporting their content and services to international markets. Although the CEC Export Ready stream is currently closed, it has previously offered funding of up to $2.5 million per project, covering up to 75% of eligible expenses. This program targeted organizations in industries such as film, music, digital media, and publishing. While the Export Ready stream is not accepting applications at this moment, we anticipate that the Export Development stream will be announced soon, providing new opportunities for creative businesses to expand internationally.
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Access Export Funding for Your Business
Navigating the landscape of government funding can be complex, but there are numerous programs available to help Canadian businesses expand their reach internationally. If you missed the CanExport application deadline, consider exploring these alternative funding opportunities to support your export initiatives. For personalized assistance in finding the right grant program for your business, consult with a member of our team. We are here to help you secure the funding you need to achieve your export goals and drive your business forward.
To get a more comprehensive list of export grant options, download our free resource on Accessing Grants for Export Activities.
