Canada Digital Adoption Program: What does it mean for advisors?

by | Mar 4, 2022 | 2022, Blog, Financial Marketing

Canada Digital Adoption Program

On March 3, 2022, the Canadian government announced the launch of the Canada Digital Adoption Program

The purpose of the program is to help Canadian small- and medium-sized businesses grow their online presence and upgrade or adopt digital technologies.

There are 2 grants available:

  • Grow Your Business Online

  • Boost Your Business Technology

Grow Your Business Online

$2,400 Grant

The Grow Your Business Online grant will help up to 90,000 small businesses take advantage of e-commerce
opportunities.

Eligible businesses will receive a micro-grant of up to $2,400 to help with the costs related to adopting digital technologies. Grants will be available through local and regional service providers across Canada. The service providers will also support a network of e-commerce advisors who will advise and help small businesses adopt e-commerce.

To be eligible, you must be:

  • Incorporated business

  • Have at least 1 employee

  • Commit to maintaining digital adoption strategy for 6 months after participation in the program

Grant can be used for the following:

  • Costs related to implementation of digital e-commerce plan (ex. Online booking)

  • Costs related to website search engine optimization

  • Costs related to installation of e-commerce platform

  • Costs related to social media advertising

So, what does this mean for advisors?

This is an opportunity to:

  • Refresh or create a new website with an online booking system such as Calendly or Microsoft Bookings

  • Search Engine Optimization

  • Facebook or LinkedIn Ads

To apply, please go to: https://ic.gc.ca/eic/site/152.nsf/eng/00011.html

Please note that some provinces are still putting together their program, but it’s best to sign up for updates since the program is likely first come, first serve.

Book a Meeting

Boost Your Business Technology

$15,000 Grant, up to$100,000 BDC Loan

The Boost Your Business Technology grant offers support to Canadian-owned small and medium sized enterprises (SMEs) who want to adopt new digital technologies.

Eligible businesses will have access to a marketplace of digital adoption experts to help them develop a digital adoption plan tailored to their needs.

Eligible businesses can leverage the grant to pay for the services of a digital advisor. These advisors will work with companies to recommend digital pathways and strategies that will help them achieve their business goals and increase their competitiveness in the digital economy.

The grant covers up to 90% of the eligible cost of retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME, to develop a digital adoption plan.

Businesses also have the opportunity to secure a 0% interest loan (up to $100,000 loan) from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of talented post-secondary students and recent graduates through subsidized work placements.

To be eligible, you must be:

  • Be incorporated federally or provincially, or be a Canadian resident sole proprietor

  • Be a for-profit, privately owned business

  • Have between 1 – 499 full time equivalent employees

  • Have at least $500,000 of annual revenues in one of the previous three tax years

So, what does this mean for advisors?

This is an opportunity to:

  • Refresh your website or create a new website with an online booking system with Calendly or Microsoft Bookings

  • Create a lead magnet for lead generation

  • Create an email sales nurture campaign to nurture prospects

  • Send out email newsletters

  • Create a social media strategy on LinkedIn, Facebook, Twitter

  • Search Engine Optimization

  • Paid ads- Google, Facebook, LinkedIn for Lead Generation

  • Use towards a Client Relationship Management System (CRM)

To apply, please go to: https://ic.gc.ca/eic/site/152.nsf/eng/00013.html

Please note that this application will require you to sign up through your CRA login.

To get more information about the grant, here’s the link: https://ic.gc.ca/eic/site/152.nsf/eng/home

If you want to have a quick chat, let’s set up a time to talk.

Book a Meeting