Boost Your Business Technology program

The Boost Your Business Technology program supports small and medium-sized enterprises (SMEs) with annual revenue of $500,000 or more in at least one of the previous three years of tax filings. It assists them in developing digital transformation plans, like building an online presence, increasing e-commerce sales, or improving digital operations. The maximum grant is $15,000, and the Business Development Bank of Canada (BDC) provides a 5-year interest-free loan of up to $100,000 CAD. This initiative aims to make Canadian businesses more competitive in the marketplace.

Who can apply?

Before applying, your business must meet all of the following eligibility criteria:

  • 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

How much money can I get?

STEP 1 Grant – For developing a digital adoption plan

The grant will cover up to 90% of the eligible costs of developing a digital adoption plan and retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME.

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.

STEP 2 Interest-Free Loan – For implementing the digital adoption plan

After completing STEP 1, businesses then have the opportunity to secure a 0% interest loan of up to $100,000 from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology and implement the digital adoption plan from STEP 1.

  • Business revenues between $500,000 and below $5M can request a loan between $25,000 and $50,000
  • Business revenues $5M and more can request a loan between $25,000 and $100,000
  • 5-year term with 12-months capital postponement (total of 6 years)
  • No fees
  • You have 1 year from the completion of your approved digital adoption plan to make a loan request

In addition, applicants can also leverage the help of talented post-secondary students and recent graduates through subsidized work placements.

What can I use the money for?

Eligible costs include, but are not limited to, the following:

  • customer relationship software (CRM)
  • digital inventory management systems
  • network security software
  • artificial intelligence
  • machine learning
  • robotics

Testimonials

Tom Yang
Their expertise in company creation, financing strategies and marketing initiatives has been instrumental in our success. We highly recommend them for full support in enhancing your business.
Manager / TeamBuild Construction
Lily Peng
U-Business Solutions designed and developed an excellent webpage for us, helped us apply for government-specific advertising funds, and conducted digital marketing, which greatly facilitated the growth of our business.
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Emily Hui
U-Business Solutions has transformed our business, integrating creative, financing and marketing expertise into a powerful collaborative force.
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