In Budget 2021, the Government of Canada announced the Canada Digital Adoption Program (CDAP) to help small and medium-sized enterprises (SMEs) adopt new digital technologies.
Two funding streams
The program consists of two funding streams that meet different needs. An amount of $1.4-billion will be provided over four years, starting in 2021-22, with the following goals: providing access to skills and training, providing micro-grants to support costs associated with technology adoption, and creating jobs as digital advisors for as many as 28,000 young people across Canada.
The program will also provide $2.6 billion over four years, starting in 2021-22, to the Business Development Bank of Canada to help SMEs finance technology adoption.
Two kinds of support
The CDAP’s two funding streams are: “Grow Your Business Online” and “Boost Your Business Technology”.
Stream 1 targets SMEs that wish to take advantage of e-commerce opportunities. Eligible businesses will receive micro-grants of up to $2,400. Stream 2 will help businesses elaborate and implement a digital adoption plan by covering 90% of its development cost and providing expert guidance from digital advisors.
In their digital adoption plan, some businesses may opt for payroll and employee management services. Furthermore, SMEs will be able to apply for a zero-interest loan from the Business Development Bank of Canada (BDC) to implement their plan. For more information, we invite you to refer to the government page dedicated to Stream 2.
Nethris would like to reiterate its admiration for employers during these difficult times and urge businesses to take advantage of the grants available to them in order to prosper in the Canadian economy. For more information, consult the Government of Canada’s website.
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