As a startup founder, you may be a Type A kind of person who loves control and prefers to do everything yourself. But that’s not a sustainable plan, especially in the fast-moving world of business.
As your business grows, you’ll need to hire the right people to help you out.
We know that hiring can be an expensive and time-consuming process. That’s why we’ve teamed up with our partners at Pocketed, the powerful (and free) grant matching platform, to tell you about the top six hiring grants in Canada that will help you build your company’s bench strength.
According to Pocketed, millions of dollars in grant funding go unused every year in Canada. Avoid missing out and read on to find the grant program that’s right for your business.
The Level UP program is funded by the Government of Canada to support employers of any sized company in hiring students. It’s an innovative work-integrated learning program and is designed to help students thrive in the future of work, with flexible remote projects that can be performed over two to eight weeks. Students can choose to work independently or in a group to solve a businesses’ problems.
The Mitacs Accelerate Program helps organizations solve their research challenges by providing academic expertise, leveraged funding, and providing one-on-one support. Internships start at four months and can be scaled up as needed. Financial contributions from the organization are combined with government funding to support the projects too.
Specifically designed for women working in Red Seal trades, this grant compensates businesses for hiring women in traditionally underrepresented trades. It’s a taxable cash grant of $3,000 per year, to a maximum of $6,000.
The Talent Opportunities Program is an initiative from the Ontario Chamber of Commerce designed to help employers across Canada hire college and university students on work placements. Eligible employers could receive a wage subsidy of up to $7,000 per student.
The Work Integrated Learning (WIL) Digital Subsidy program gives university students opportunities to develop foundational entrepreneurial and business skills. The program covers up to 75% of wages for employers, to a maximum of $7,500.
The Youth Employment and Skills Program provides an incentive for companies to hire youth in agricultural jobs. It provides wage subsidies for 50% of wages, to a maximum of $14,000, plus an additional $5,000 if the employee is required to relocate for the position.
There’s a lot of give and take when it comes to hiring – you want to find qualified and motivated candidates, and candidates expect certain levels of compensation and benefits from you in return. The grants above can help you attract the talent you need to take your business to the next level. Better yet, once you’ve been approved for a grant found through Pocketed, you may be able to access your funds more quickly by working with the team at OKR Financial. Get in touch here [email protected]!