For entrepreneurs looking to start a business in Toronto there are over 80 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. Additional business grants, incentives and rebates are offered by the City of Toronto. For additional funding information, a tailored list of government financing programs for your business can be generated using Innovation Canada’s interactive tool. Or visit the Government of Canada website with information about business grants, loans, tax credits, wage subsidies and other government financing.
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 |
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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. |
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:
Program Name | Program Description |
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Black Entrepreneurship Loan Program | Provides loans up to $250,000 to Black business owners and entrepreneurs. Loans can be used for capital investments, working capital, short-term receivable financing. |
DMZ Black Innovation Program | Provides $250,000 over five years, or $50,000 annually, to support tech entrepreneurs. |
The City has committed more than $1.2 million towards cultural and economic investments to confront anti-Black racism. To learn more, visit Confronting Anti-Black Racism.
Program Name | Program Description |
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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. |
Indigenous Arts & Culture Partnerships Fund | Individuals, groups, collectives or organizations can apply for funding up to $10,000 or $30,000 for Indigenous-led arts and culture projects. |
Government of Canada’s Indigenous Businesses Initiative | Short-term, interest-free loans and non-repayable contributions. |
Program Name | Program Description |
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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 |
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Agrilnnovate Program | The program is designed for businesses, cooperatives and Indigenous groups in agriculture, providing grants or loans for research and development of a new agricultural product or technology. |
AgriScience Program | The program is designed for businesses, cooperatives, Indigenous groups and not-for-profit organizations, providing funding and support for pre-commercial science activities and cutting-edge research. |
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. |
NSERC Collaborative Research and Development Grants | NSERC Collaborative Research and Development Grants support research projects in natural sciences or engineering by covering part of the project costs. |
Ontario Centre of Innovation | Ontario Centre of Innovation 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. |
Program Name | Program Description |
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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 |
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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). |
Are you an Ontario student aged 15 to 29 with a business idea? The Summer Company program can help you launch and operate a business this summer. The program provides:
Review the program overview and detailed guidelines.
Ready to apply? Complete your eligibility checklist to get started.
Applications for the Summer Company program are now open. Deadline to apply is May 5, 2023.