FAQ: Boost Your Business Technology Grant for Canadian Dealers
Do you own a small or medium-sized business in Canada?
The Canada Digital Adoption Program (CDAP) offers two grants that will help you get online and use technology to build your business:
- The Grow Your Business Online grant gives you up to $2,400 to set up e-commerce and grow your sales online.
- The Boost Your Business Technology grant gives you up to $15,000 to get advice on the technologies that can propel your business forward.
Find out if your dealership is eligible and more with our FAQ below!
What is the Boost Your Business Technology Grant?
It aims to equip Canadian businesses with the necessary resources and knowledge for succeeding in an increasingly digital world.
If you are an OPE dealer, and you want enhance your services and processes, then you may consider implementing a software solution like Ideal. Contact our sales team by giving us a call at 800-737-1620 or schedule an appointment with our team and we'll be happy to help you out!
Or, if you are already an Ideal customer, you can offset your investment in additional products like Ideal Cloud and TargetCRM. Contact your Account Manager for more information.
What is meant by “businesses that want to adopt new technologies?”
Dealership management software, such as Ideal, would be considered a technology that is eligible for support under the grant.
How much funding is available through the grant?
The Canada Digital Adoption Program (CDAP) will determine the size of the grant payment based on the invoice of the final cost of the Digital Adoption Plan as developed by the Digital Advisor.
After the Digital Advisor has helped you develop the Digital Adoption Plan, you can obtain a $100,000 CAD interest-free loan from the Business Development Bank of Canada to help pay for the new technology projects, such as acquiring a dealership management software like Ideal.
The cost of the software, installation, and staff training could be potentially offset by the loan, making it a valuable opportunity for Canadian dealerships.
What does a Digital Advisor do?
You must work with a Government of Canada-approved partner to receive the grant.
If approved for the grant and upon your acceptance of the terms of the Grant Agreement, you will have access to the Digital Advisor Marketplace system to help you find a Digital Advisor.
Who is eligible for the grant?
- Be an incorporated business (at the national or provincial level) OR a Canadian resident sole proprietor
- Be a privately-owned, for-profit entity
- Have between 1 – 499 full-time equivalent employees
- Have earned at least $500,000 and not more than $100 million in revenue in 1 of the past 3 years.
How do I apply for the Boost Your Business Technology Grant?
The application process typically involves submitting a detailed project proposal outlining how the new technology will be used to improve business operations, created with the help of the Digital Advisor, and supporting financial documentation.
Where can I get more information about the Boost Your Business Technology Grant?
You can also give us a call at 800-737-1620.