In this section you will find links to information on funding for your business. No business can function without money to pay for overhead expenses and production or product costs. It is also unusual for a business founder to have the capital to fully fund their business. The sources in this section will help you consider the best source of funding for your business.
Suggestions for Obtaining Capital
With proper planning and a few resources to guide you on your way, identifying and securing capital to start and grow your business becomes a much smoother and gentler process.
There are several ways to secure the capital needed to fund your business:
- Government Funding: This is money that the government gives you to fund your business, based on your application to the funding grant. There are other types of government assistance you might wish to explore here: Business Grants and Financing.
- Personal Savings: This involves saving your money from your current employment to invest in your business.
- Personal Loans: This option means using your personal credit to secure a loan or using your personal credit card for business expenses.
- Crowdfunding/Micro-Lending: Crowdfunding and micro-lending are both alternative ways of raising capital that involve having large groups of people pre-buy your product before it is launched or loan you small amounts that you can then use to finance your business.
- Private Financing/Equity Financing: This types of financing come in the form of loans from banks or individuals. It is obtained through your business’ credit availability or through providing equity in your business in exchange for money. This financing involves going into debt or giving up some control of your business.
Need More?
Check out this page in the Learn Business Basics section of our site to review a growing list of different ways to raise capital for Canadian businesses. It has many funding resources to explore that fall into the categories above, and well as sections with opportunities specifically for Indigenous, women, and youth entrepreneurs, as well as regional funding opportunities.
Below, we have some resources that can help you find funding options for your business:
Alternative Energy Funding Opportunities
BC Indigenous Clean Energy Initiative | This project supports Indigenous communities in developing clean energy projects. Funding is supported through both the Federal and BC governments.
Clean Energy for Rural and Remote Communities: BioHeat, Demonstration & Deployment Program Streams | This program from the Government of Canada supports the development of clean energy systems in rural and remote communities. Applicants can apply to one of three streams.
Clean Growth Program | This program from the Government of Canada offers funding to clean energy R & D initiatives in the sectors of energy, mining, and forestry.
Emerging Renewable Power Program | This program from the Government of Canada offers funding to emerging renewable power projects that are a) already established commercially abroad, but not in Canada, and/or b) established in Canada, but not at utility scale.
ICE and SDTC Funding Partnership | This funding opportunity comes from two recently merged programs: BC’s Innovative Clean Energy (ICE) program, Sustainable Development Technology Canada (SDTC). Projects must be BC-based, and contribute to the reduction of greenhouse gases.
List of Funding Opportunities for Clean Energy Projects Led by First Nations and Local Governments | This document was last updated November 2020, and provides an expansive list of funding opportunities for projects led by First Nations and/or Local Governments.
Northern REACHE Program | The Northern Responsible Energy Approach for Community Heat and Electricity (REACHE) program offers funding to renewable energy and energy efficiency projects, with the goal of advancing environmental, social and economic benefits for Northern communities.
Below, we have some resources that can help you find funding options for your business: