For entrepreneurs looking to start a business in Toronto there are over 60 business incubators and accelerators providing support for a range of sectors from digital media and healthcare, to food processing and retail. Business support programs are offered across the country and are tailored to specific industries, demographics, or special economic purposes.

Below you can find various financing options for small businesses in Toronto. For additional information you can also generate a tailored list of government financing programs for your business using Innovation Canada’s interactive tool, or visit Government of Canada for more information on business grants, loans, tax credits, wage subsidies and other government financing.

 

Program Name Program Description
Access Community Capital Fund Access Community Capital Fund (ACCF) supports entrepreneurs with viable business plans with financing not available from other sources. The borrower may have no credit history, or may have a poor credit record due to unemployment, illness or unforeseen life events.
Futurpreneur Futurpreneur offers aspiring entrepreneurs between the ages of 18 and 39 access to up to $15,000 in start-up financing and up to $60,000 in additional financing through a partnership with the Business Development Bank of Canada.
Opportunities Fund for Persons with Disabilities Program Opportunities Fund for Persons with Disabilities Program helps people with disabilities prepare for, obtain and maintain employment or self-employment.
Rise Asset Development  Rise Asset Development (Rise) provides loans to entrepreneurs with a history of mental health and /or addiction challenges. Rise operates with the support of the Rotman School of Management and the Centre for Addiction and Mental Health (CAMH).
The Ontario Catapult Microloan Fund for Social Enterprises The Ontario Catapult Microloan Fund for Social Enterprises is about enabling social entrepreneurs and innovators to turn their ideas into reality by supporting promising early stage ventures with access to capital. This microloan fund is administrated by the Centre for Social Innovation (CSI).

 

Program Name Program Description
Agrilnnovation Program The program is designed for businesses in agriculture, and provides grants or loans for research and development of a new agricultural product or technology.
Collaborative Research and Development Grants Collaborative Research and Development Grants support research projects in natural sciences or engineering by covering part of the project costs.
MaRS Investment Accelerator Fund Investment Accelerator Fund for life sciences, cleantech, ICT or digital media enterprises, is a seed fund program, provided by the Province of Ontario, that helps emerging tech companies bring their product and services to market.
Natural Research Council Canada The Industrial Research Assistance Program (IRAP) provides funding to qualified firms and their innovative research and development projects.
Ontario Centres of Excellence – Collaborative Commercialization Programs Ontario Centres of Excellence – Collaborative Commercialization Programs bring universities, industry and government together to help turn science and technology into successful business endeavors.
Ontario Innovation Tax Credit If you are an owner of an Ontario-based corporation you may be eligible for a 10% tax credit on research and development carried out in Ontario for your business.
Scientific Research and Experimental Development The Scientific Research and Experimental Development (SR&ED) program is a federal tax incentive program to encourage Canadian businesses of all sizes and in all sectors to conduct research and development (R&D) in Canada. The Canada Revenue Agency, responsible for administering the program, offers tax credits for expenditures such as wages, materials, machinery, equipment, some overhead and SR&ED contracts.

 

Angel Investors Ontario – Angel investing goes beyond providing funds to start-up businesses. Unlike venture capitalists, angels are involved in the start-up businesses that they invest in to ensure higher returns.

Angel groups in Ontario:

 

Program Name Program Description
Business Development Bank of Canada Business Development Bank of Canada (BDC) Xpansion Loan helps Canadian companies with up to $100,000 in long-term financing.
Ontario Chamber of Commerce Ontario Exporters Fund assists SME’s increase access to international markets.

 

Program Name Program Description
Ontario Apprenticeship Programs The Province of Ontario assists employers with financial incentives to train apprentices.
Apprenticeship Training Tax Credit Apprenticeship Training Tax Credit is a refundable tax credit available to employers or sponsors who hire and train apprentices in certain skilled trades.

 

Program Name Program Description
Canada Council for the Arts Canada Council for the Arts grants programs help Canadian artists and arts organizations.
Government of Canada  Government of Canada – Canadian Heritage offers a variety of funding opportunities including Canada Book Fund, Canada Music Fund, Canada Media Fund, Canada Periodical Fund and many more. An alphabetical list of funding programs can be found on the website.
Ontario Arts Council Ontario Arts Council provides granting programs in different categories such as Art Education, Crafts, Dance, Literature, Media Arts, Music, Theatre, Visual Arts and more.
Ontario Media Development Corporation The Ontario Media Development Corporation, commonly known as Ontario creates, focuses on encouraging strategic business partnerships among the converging cultural media industries, including film and television production, book and magazine publishing, sound recording and interactive digital media. I
Socan Foundation Socan Foundation provides funding for Canadian music creators.
Toronto Arts Council Toronto Arts Council (TAC) provides grants to artists and arts organizations.

 

Program Name Program Description
Ontario Catapult Microloan Fund for Social Enterprises The Ontario Catapult Microloan Fund for Social Enterprises is about enabling social entrepreneurs and innovators to turn their ideas into reality by supporting promising early-stage ventures with access to capital. This microloan Fund is administrated by the Centre for Social Innovation (CSI).
Soshent Soshent connects social entrepreneurs and innovators to the programs, opportunities and funding they need to accelerate their success and amplify their impact.

 

Program Name Program Description
Waubetek Business Development Corporation Waubetek Business Development Corporation delivers business financing and economic support services to Aboriginal entrepreneurs and First Nation communities.
Nishnawbe Aski Development Fund Nishnawbe Aski Development Fund (NADF) offers a variety of services to support Aboriginal business and economic development, including financing, business support, community planning, and workshops and bookkeeping training.
Indian Agricultural Program of Ontario Indian Agricultural Program of Ontario (IAPO) offers small business financing to support First Nations entrepreneurs and businesses. Funding is offered for equipment, business start-up and expansion, commercial real estate financing.

This is a method of raising capital in small amounts from a large group of people using the Internet and social media. Individuals are asked to make micro investments or donations to causes and ventures they believe in. For more information about crowdfunding, please visit the following websites: