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Up Your Digital Game with Grants!
Small businesses are under immense pressure to transform their operations and become more digital-friendly. To help with that transition, the Canadian government has established a program called the Canada Digital Adoption Program (CDAP) – providing free grants and zero-interest loans to small businesses to increase their adoption of technology and be more competitive in our digital world.
What is the Canada Digital Adoption Program?
The Canadian Digital Adoption Program (CDAP) is an initiative by the Canadian government aimed at helping small businesses adopt digital technologies and improve their competitiveness. CDAP offers funding and support to eligible small and medium-sized businesses (SMBs or SMEs) to help them implement digital new technologies and processes, such as e-commerce platforms, digital marketing, CRMs, and online payment systems. The program provides up to $15,000 in grant funding, which can be used to hire an advisor to help you with creating a strategy to adopt these technologies.
Does My Business Qualify?
Small Businesses must meet certain criteria in order to be eligible for the CDAP Grant Program including:
Be a private, for-profit business registered in Canada and owned by a Canadian resident
Have between 1 and 499 employees (over and above the business owner)
Generate between $500,000 and $100 million in revenue in one of the past three years.
If you meet all three of these criteria, you are eligible for the “Boost Your Business Technology” Program and Grant!
What does the Canada Digital Adoption Program Include?
$15,000 Grant for a
Digital Adoption Plan
Once approved for the program, you can work with a registered advisor to draft a Digital Adoption Plan. The advisor will conduct an audit of your business and digital infrastructure, ultimately providing you with an in-depth plan with several different recommendations.
Your Plan Can Include:
Improvements to your website Digital marketing strategy Lead generation and nurturing First party data and privacy management Integration of new technologies Implementing cloud-based solutions Developing efficiencies in your workflow
The grant will cover 90% of the cost to develop this plan, up to a total of $15,000.
$7,300 Grant
to Hire a Student
With your approved Plan in hand, you become eligible for an additional grant to hire a student or recent graduate to help you implement the recommendations you received.
This comes in the form of a wage subsidy of up to $7,300 to hire talent through a work placement, working out to approximately 13 weeks of full time employment.
We will work with you through this grant application and to find the right student to help you with your plan.
$100,000 Loan @
0% Interest
Your business will also be eligible for an optional zero-interest loan for up to $100,000 from the Business Development Bank of Canada (BDC). Considering that current interest rates from your typical bank are substantially higher, this provides you with an affordable way to get the needed capital to enact the transformation identified in your Digital Adoption Plan.
Loan Terms
The loan amount is determined by your annual revenue and can range from $25k to $100k and has a 5-year term, with 12-month capital postponement (meaning it’s completely paid off in 6 years). It also comes with a 0% interest rate and has no additional fees – meaning it’s free money for you to invest in your business.
I don’t have $500k in revenue. Can I still get a grant?
Unfortunately the $15,000 grant requires you to have at least $500,000 in revenue in at least one of the last three years. But CDAP has a separate $2,400 micro-grant that can help you get online, develop an eCommerce solution or help market your business digitally.
How Do You Apply for Your Grant?
Step 1:
Visit the CDAP Website and provide information about your business.
Step 2:
Select a digital advisor (like Calumet Media & Consulting) and participate in a “Digital Needs Assessment” (DNA) survey to help determine your business needs.
Step 3:
Work with your digital advisor to create a custom Digital Adoption Plan that you can implement.
Step 4:
Submit your the plan you received from your advisor and receive 90% of the cost of it’s development (up to $15,000) from the Canadian Government.
What’s in Your Digital Adoption Plan?
Each Digital Adoption Plan is customized with your individual business needs in mind. Whether you’re in need of a digital marketing strategy or a new point of sale supplier, each plan is structured under several key areas:
Executive Summary
a high-level summary of the key elements of the plan, detailing how adopting new technologies will help your business grow.
Current State Analysis
A review of your business, including internal strengths and opportunities. It will identify external issues (market, competition, business model) and summarize future key business goals. Current technology employed at your business is itemized and includes a summary of how efficient these technologies are at helping your business deliver value.
Detailed Recommendation
Calumet Media & Consulting will identify a minimum of three potential digital solutions for you to consider, including how each solution will benefit your business.
Requirements
High-level requirements to implement the proposed solutions, including financial commitment, skills needed and the degree of implementation complexity these technologies will need.
Implementation Roadmap
This will include a detailed budget, timeline and all necessary project dependencies to successfully implement the plan in alignment with your vision to grow your business.
Why Work with Calumet Media?
We’re a local digital agency, helping businesses in the Outaouais and Ottawa Valley. We have decades of experience working with small businesses of all sizes, helping them to up their digital game. As a recognized Canadian Digital Adoption Program (CDAP) Advisor, we’ve been also identified as a company that has the skills and capability to help you utilize digital technology to improve your business efficiency and reach new potential customers.
We work in an open and transparent relationship with our clients, holding your hand and guiding you through the challenges of digital transformation.
Have Questions? Want to See if You are Eligible? Talk to Us!
Let’s get you started on your digital transformation journey!
Fill out this form and let’s set up a no-obligation consultation where we can discuss the program and how Calumet Media & Consulting can help you take advantage of the grants and loans available to small businesses like yours!
You can also email us your questions directly at cdap@calumetmedia.ca