Business Funding Grants to Support Operational Efficiency Initiatives
Process and operational improvements can take form in a wide range of applications, from lean manufacturing, system or software upgrades, implementation of new or improved ERP systems, advanced capital equipment, to employee training initiatives. Oftentimes, the transition towards reducing waste, increasing runtime, reducing equipment changeover time and improving throughput—amongst other efficiency metrics—can pose a significant burden for smaller manufacturers trying to finance these costly improvements.
Fortunately, businesses looking to improve their processes and position themselves for growth through any one of these initiatives may be eligible for business funding grants.
Government Small Business Grants for Improving Operational Efficiency
CME – SMART Prosperity Now: Capital Equipment Grant for Exporting
The Canadian Manufacturers & Exporters (CME) – SMART Prosperity Now Program benefits export focused businesses conducting activities related to improving operational efficiency, such as lean manufacturing and/or design, IT best practices, and energy efficiency. Eligible applicants can receive 33.3% of eligible project costs, up to a maximum of $75,000.
This is a particularly beneficial business funding grant for businesses looking to solve productivity challenges through the acquisition of new capital equipment. The CME – SMART program would support 33.3% of costs associated with equipment or property purchase, third party installation, and outside business consulting.
IRAP Accelerated Review Process (ARP): R&D Grant Funding
The Industrial Research Assistance Program (IRAP) Accelerated Review Process provides grant funding for business projects that revolve around solving a technical or research challenge through software or productivity improvements. Eligible applicants looking to implement new or improve current CRM or ERP systems could profit from this funding for small business program, which covers 80% direct labour cost and 50% sub-contractor costs, up to a maximum of $50K in non-repayable funding. IRAP funding is allocated on a per region basis and some regions still have funding left for projects that can end on or before March 31, 2013. Otherwise, small businesses can apply for this research and development funding when it becomes available again in April 2013 (funding allocation pending).
Access Training Grants through the Canada-Ontario Job Grant Program
In certain circumstances, efficient processes and performance best practices rely heavily upon the capabilities and qualifications of staff and management. We can help you find a funding program to suit nearly every job title whether you are looking for a maximum contribution, or you require approval within days.
Southwestern Ontario Development Fund (SWODF): Job Creation/Innovation Grant/Loan
The SWODF is an equally profitable program for businesses conducting extended activities related operational and process improvements, who are investing in new capital equipment to increase productivity, and whose projects involve creating jobs for communities in Southwestern Ontario. This funding for small business productivity improvements will support 15% of eligible project expenses, up to a maximum of $1.5 million in non-repayable grant funding.
The major benefit to this program is that projects can extend up to a 2-4 year timeline, and any eligible expenditure that exceeds the funding budget may qualify for a repayable government loan of up to $5 million.
Learn More About SWODF Ontario Government Funding
Choose from one of the following for more information, or to get started on your SWODF application today!
Canadian Government Funding Support via Mentor Works Ltd.
Continual growth and progress are fundamental to any business’ development and success. Applying the right government funding programs against your productivity improvements and lean manufacturing should be a key element to your growth strategy. Please contact our Team of Canadian Government Funding Planners for more information about these and other government funding for small business programs, or subscribe to our Weekly Canadian Government Funding E-Newsletter.