Types of government grants in Canada

Navigating the Landscape: Your Guide to the Types of Government Funding in Canada 

Pocketed is all about simplifying your funding search – and helping you win money.  We spend all our time, making the complex world of government funding in Canada easy (or, at least easier). We know that whether you’re an individual, business, or organization, understanding the diverse options available is a game-changer. Here are the key terms to know. 

1. Grants: Unlocking Opportunities without Repayment 

Grants are a keystone funding sourceGrants are typically awarded based on specific eligibility criteria over a set period of time (for example, must have made $500k in the previous tax year, or must have two full-time employees). Grants fund projects or initiatives – so it’s less about what industry your company is in and (way!) more about what you’re spending money on! Our platform and our grant specialists can helpWhy do we love grants? Well, there are lots of reasons, but a big one is the recipient is not required to repay the funds.  At Pocketed, we match you with grants based on your business’ eligibility, opening doors without the burden of repayment or interest calculations. 

2. Subsidies: Reducing Costs for Economic Growth 

Designed to support economic development activities or specific sectors, subsidies reduce costs, making goods or services more accessible. A great example is a wage subsidy – you hire, pay the employee and get some (or all) of that money backWhy does this exist? Governments incentivize desired behaviorsAt Pocketed, we help you leverage subsidies to fuel your economic journey. 

3. Incentives: Motivating Success in Your Ventures 

Who doesn’t love a good (business) incentive? We’re here to guide you through monetary rewards, benefits, or advantages that stimulate specific behaviors or activities. At Pocketed, we know incentives can power success, and we can help you claim your fair share. 

4. Business Competitions and Awards: Spotlighting Achievements 

Competitions and awards are your chance to showcase your unique value to big audiences! From market success, to unveiling innovations, these opportunities recognize achievements and serve as stepping stones for future funding. 

5. Tax Credits: Your Reward for Economic Contributions 

Tax credits reduces the total tax amount your business owes the governmentAt Pocketed, we uncover tax credits that reward your specific economic activities or expenses, saving you valuable capital for your organizational growth and goals.  

6. Tax Deductions: Lowering Your Taxable Income 

Tax deductions are the strategic moves to lower your taxable income, resulting in a decreased effective tax rate. Let us guide you in navigating deductions, optimizing your financial landscape. 

7. Loans: Funding Your Vision 

Sometimes good old fashion debt is the best option! We can provide support on finding the right loans (these you do have to pay back). Our goal is to make the loan process seamless and strategic specific to your needs by setting you up with the right programs and contacts! 

Pocketed will be your funding champion – helping you find and secure available funding. With our full-service and self-serve software solutions, we’re committed to making the process of finding, – and winning – funding smoother, ensuring you access the funds you need for success.  

Discover more, achieve more, earn more, with Pocketed. 


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