Two new government grant funding programs will be accepting applications from businesses and First Nations governments starting next month according to Northern Development Initiative Trust.
The Business Diversification and Sustainability funding program will receive $1.8 million to support businesses invest in the acquisition of capital projects to allow them to expand their markets, offer new products/services or increase productivity.
“Our government is acting with urgency and prioritizing support for people in sectors facing the greatest impacts of global tariffs, and this investment allows us to do exactly that,” said Sheila Malcolmson, Minister of Social Development and Poverty Reduction.
“In partnership with the Government of Canada, we’re funding 2.7M to help build capacity, adapt to changing economic conditions, and advance economic development projects.”
Eligible applicants, including small and medium-sized businesses, will be able to receive up to $200,000, to a maximum of 75 percent of the project cost, to purchase new machinery or equipment, develop new technology and associated costs to strengthen their business.
“Canadian businesses are ready to lead, and they need the right tools to stay ahead as the economy rapidly shifts,” said Patty Hajdu, federal Minister of Jobs and Families. “By helping local businesses in British Columbia adapt to new technology, upgrade their equipment and reach new markets, we are investing in Canada’s future. One resilient business, one good job, and one thriving community at a time, to support one Canadian economy.”
The application process begins September 2nd and runs until October 15th.
“Making $200,000 for capital expenditures available to businesses through non-repayable grants is an effective way to facilitate investment and growth,” said Ben Campbell, CEO, Northern Development.
In addition, the First Nation Business Development Capacity Building funding program has $900,000 available to First Nation development corporations.
This program provides 90 percent of the funds required, up to $75,000, for applicants to hire a consultant to leverage large-scale projects that are occurring in their region.
Applications for this grant will also open on September 2nd and will continuously accept and review applications until June 30th, 2027, or until all available funding has been fully allocated.
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