In most cases government funds go to those companies that can show an obtainable result that will come from that support .
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Use grants to take you to the next level
Elliot Schiller
But first articulate exactly where you want to go .
“ If you don ’ t know where you are going , you might wind up someplace else ,” — Yogi Berra , philosopher
Often in business we think we should be heading in one direction only to have our customers tell us , either directly or with their money , that they want us to head somewhere else . While businesses often experience this , and while it may be for the good , it may not be ideal if you intend to maximize your government grant potential .
There are four types of government funding opportunities available :
• Workforce development
• Diversification
• Innovation
• Capitalization and financing
In some cases , these funds can be “ stacked ,” a government term to indicate that one grant can be added to another . Likewise , there are many grants such as the Industrial Research Assistance Program ( IRAP ) and the Scientific Research and Experimental Development program ( SR & ED ) where the funds that you obtain from IRAP reduce the funds available from the SR & ED program .
When clients ask me what grants they are eligible for , I explain that before I can answer that question , I need to understand where their business is headed in order to maximize the various funding opportunities available .
Don ’ t panic , I ’ m not asking for a business plan that banks might expect . I ’ m looking for an understanding of where you ’ ve been , where you are now , where you hope to go and why you think your hopes are based in reality .
Once you can articulate those concerns , the next question is , what are your boundaries ? For example , if where you hope to go will require you to double your workforce , and / or move to a significantly larger facility , do those plans require you to remain in your existing geographic location ? Are you able to move your manufacturing plant from an urban to a rural location , or to a different or second province altogether ?
Further , if your plans require a significant increase in workforce , do they primarily need to be experienced employees or can you hire younger employees , possibly straight out of school , ready to be trained internally ? If so , will you need outside training assistance ?
What about technology ? Are you able to expand with your existing technology or do you need to enhance or replace functionality ? I remember discussing this issue years ago with the patriarchal owner of a large manufacturer whose company had gone through a major technology upgrade costing what he considered at the start of the project to be an unjustifiable expense . After a few years , as his company was acquiring one competitor after another on the way to becoming the leading North American manufacturer in its category , he confided in me that because of his system ’ s technology , he was able to painlessly integrate every new facility into his empire with minimal upheaval , maximizing the obvious advantages of a North American-wide organization .
So , what about expansion ? Do your plans include exporting to new markets ? Is your brand a known entity or do you need marketing dollars to solidify the brand ? Do you intend to sell existing products to a new market or will you need to adapt your offerings ? We have a Quebec-based client who invested in a marketing campaign that after five
In most cases government funds go to those companies that can show an obtainable result that will come from that support .
years resulted in his company expanding its sales tenfold and increasing its workforce fivefold with multiple grants for innovation , diversification and workforce expansion from both the federal and provincial governments .
Because he knew his business objectives when he began his branding campaign he was able to stack and maximize funding available in order to achieve his goal . He too has now become a major player in his category with support from government funds .
As you see , preparing for and obtaining government funding requires both a time and energy commitment from management . Government funding is available to support your efforts , but , as another popular adage reminds us , “ there is no such thing as a free lunch ”. In most cases government funds go to those companies that can show an obtainable result that will come from that support . Your competitors are taking advantage of funding opportunities . Shouldn ’ t you ?
Elliot Schiller is a Director at Toronto ’ s Teeger Schiller Inc ., a firm specializing in government funding and systems selection / implementation . His clients receive over $ 5 million annually to support ongoing business innovation . E-mail eschiller @ teegerschiller . com , visit www . FundingHelp . ca or phone 1-888-816-0222 Ext . 102
32 | March 2018 | GRAPHIC ARTS MAGAZINE graphicartsmag . com