Changes to CanExport?
Did you know there have been changes to the CanExport grant? If you were previously ineligible because you already had sales in the US or another market, we have good news! The government has modified the rules; small and medium-sized companies are now eligible for the CanExport grant even if they have had sales in the target market (aka country). Thus, you can be eligible for CanExport as long as you have had less than $20K sales per annum in the target market in the last 24 months, or if the target market represents less than 10% of your international sales.
What is CanExport?
CanExport is a federal government grant for small/medium size businesses, with annual revenues within the $200K-$50M range, who are interested in developing new export markets.
The grant can cover up to 50% of your market development expenses for new market development. Expenses such as business travel, trade fairs, market research and adaptation of your marketing materials for new markets are eligible. Note that there are ineligible expenses.
This is a 50/50 matching grant to a maximum of $100K. For example, if you spend $200K in market development activities, you may be eligible to receive up to $100K from the CanExport grant.
CanExport is definitely a good opportunity for small businesses interested in exporting and there is a lot more to know about it. For more information, check out the CanExport here.
What is the AgriMarketing program?
Note: If your products or services are related to agriculture, you may not be eligible for the CanExport grant. However, you should check out a similar grant through Agriculture and Agrifood Canada’s AgriMarketing program.
By Katherine Britton, CPA CMA MBA
Director, Business Development | Women’s Enterprise Centre, BCBack to News & Articles