To Boost Exports, CanExport Loosens Eligibility Requirement
CanExport is a federal grant program that provides funding to SMEs to develop new and emerging export opportunities. Beginning August 22, 2019, Funding limit for SME projects will increase from $50,000 (that covered 50% of eligible expenses) to $75,000, covering up to 75% of eligible expenses. 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
Eligible Markets and Expenses
Consulting fees can now amount to up to $66,667 of the project budget i.e. CanExport will fund up to $50k toward those costs (used to be capped at 25% of budget)
Large emerging markets (China, India, Brazil and USA) 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, to all industry sectors. It has recently opened its doors to Canada’s agriculture, agri-food and agri-products industry, including fish and seafood starting August 22, 2019. Agricultural/food applicants may claim costs of food service promotions, product demonstrations, and technical training for buyers about products/product handling.
Contact our grant specialists for a complimentary assessment of your eligibility for CanExport: