To Boost Exports, CanExport Loosens Eligibility Requirement
April 11, 2019 | 4:27 pm BY Eddie Bissoon | Grants
CanExport is a federal grant program that provides funding to SMEs to develop new and emerging export opportunities. Applicants can receive up to $50,000 per project for business development costs to grow sales in a country that represents less than 10% of its export sales up to the time of application.
Previously, CanExport was restricted to companies that generated at least $200,000 in annual revenue and had at least 1 full-time T4 employee. Now the program has loosened its criteria so that businesses only need to have $100,000 in annual revenue and do not need to have any staff on T4. This makes the program much more accessible to small or startup businesses.
Your business activities should promote international business development and go beyond your core activities. These activities could include:
- Business travel;
- Participation at trade fairs;
- Market research;
- Adaptation of marketing tools for a new market; and
- Legal fees associated with a distribution/representation agreement
With few exceptions, CanExport is open to all markets. Applicants can apply for multiple markets – up to a maximum of five – but will need to provide a rationale as to why they want to enter specific markets and explain that they have either never exported to each market or have not substantially exported within the last 24 months.
Large emerging markets (China, India, and Brazil) are also segmented into sub-national markets. Export sales eligibility will apply per region. This means that if an applicant is active in one sub-market, it may still apply for support to target other regions of that same country.
CanExport is open, with few exceptions, to all industry sectors. However, the agriculture and processed food, seafood, wine, beer and spirits sectors are excluded from CanExport because companies in these business sectors are eligible for Agriculture and Agri-Food grants.
Contact our grant specialists for a complimentary assessment of your eligibility for CanExport: