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Small and medium-sized enterprises (SMEs) are an essential driver of the Quebec economy, generating jobs and contributing to economic growth.
However, they may encounter financial difficulties in developing their projects and ensuring their sustainability. To help them overcome these obstacles, grants are available.
Below, we will explore the various grants available to SMEs in Quebec, as well as the eligibility criteria to apply for them. We will also see how to apply for a grant and what practical advice to follow to maximize your chances of success.
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The different types of subsidies for SMEs in Quebec
Grants for SMEs in Quebec can be governmental or non-governmental. Government grants are offered by various government departments and agencies, such as the Ministry of Economy and Innovation, the Natural Sciences and Engineering Research Council of Canada (NSERC) and the National Research Council of Canada ( NRC). Non-governmental grants come from investment funds or private organizations.
Here is a non-exhaustive list of subsidies for SMEs in Quebec:
Industrial Research Assistance Program (IRAP)
Aboriginal Entrepreneurship Support Program (PSEA)
Business Investment Program (PIE)
Quebec Economic Development Program (PDEQ)
Export program (Exportation Quebec)
Regional business support program (PSER)
Tax Incentive Program for the Production of Multimedia Titles (PEFTM)
Innovation, Science and Economic Development Canada (ISED)
Program NovaScience program of the Federation of Quebec Chambers of Commerce (FCCQ)
Clean Technology Subsidy Program (STP) of Energy Transition Quebec (TEQ).
Eligibility Criteria for Grants for SMEs in Quebec
Eligibility criteria for grants for SMEs in Quebec may vary depending on the type of grant and the organization offering it. In general, the eligibility criteria relate to the size of the company, the sector of activity, the location, the innovation or sustainable development project, as well as the export of products or services.
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The advantages of subsidies for SMEs in Quebec
Grants for SMEs in Quebec offer many advantages, such as access to funds to finance innovation, sustainable development or export projects, as well as the possibility of reducing costs related to research and development. Grants can also help SMEs access new markets and strengthen their competitiveness.
Bottom Line
Grants for SMEs in Quebec are an important tool to help companies finance their innovation, sustainable development and export projects. By following the steps to apply for a grant and respecting the eligibility criteria, SMEs can benefit from these advantages to strengthen their competitiveness and economic growth.
Read more: How to Finance an Acquisition
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To qualify for a business loan with our company and our partners, you must meet the following conditions: a personal credit score of at least 550, a business credit score of at least 1300, be a Canadian company in operation in Canada for at least 6 months, and not be in active bankruptcy.
To qualify for computer equipment financing for your business with us and our partners, you must meet the following criteria: a personal credit score of at least 550, a business credit score of at least 1300, be a Canadian company, have been in business in Canada for at least 6 months, and not be in active bankruptcy.
Although we provide business loans to over 700 industries, we and our partners cannot provide financing for certain industries considered risky: firearms suppliers, government agencies, horoscope/divination, adult entertainment, public administration, NPOs, religious organizations, money service businesses and all activities related to lotteries/casinos/betting.
Getting a loan for your business with MicroCapital is a simple process. Just click the "Get Started" button and answer a few quick questions for pre-approval. If you meet the required criteria, a representative will contact you to finalize the process by asking you some additional questions.
