High-growth businesses producing innovative goods, services, or technologies can greatly benefit from the Business Scale-up and Productivity Fund (BSP). It’s geared toward helping eligible businesses accelerate their growth, reach new markets by improving their productivity and competitiveness, create jobs, and advance new technologies.
This fund is part of the Regional Economic Growth through Innovation (REGI) stream of programs delivered by regional development agencies across Canada. It offers interest-free, repayable funding to incorporated businesses. Repayment begins two years after the end of a project.
Typically, a high-growth business is defined as a for-profit company with notable revenue increases year-over-year, or around 20% year-over-year. Manufacturing, food processing, life sciences, and information, communications and multimedia technologies are some the sectors that have recently benefited from BSP. Businesses that do not meet the BSP criteria are encouraged to consider the Jobs and Growth Fund.
For more information, and to find out if you may qualify for these benefits, call Jason Adams, 877-753-2678, or email Jason [email protected]