Archive for the ‘Export’ Category

Ontario Budget 2018 Highlights

The Ontario 2018 Budget, tabled on March 28, 2018, projects a growing deficit over the next three years and is predicted to resume a downward trend in 2022 with accumulated deficit expected to decline from 23.2% of gross domestic product (GDP) in 2017-18 to 22.1% by 2022.

The Ontario Budget proposes several measures and investments that impact businesses, including:

Innovation

  • An increase to the Ontario Research and Development Tax Credit (ORDTC) from 3.5% to 5.5% for eligible R&D expenditures over $1M (per taxation year) incurred on or after March 28, 2018.
  • Enhancements to the Ontario Innovation Tax Credit (OITC) for eligible R&D expenditures incurred on or after March 28, 2018 based on the ratio of R&D expenditures to gross revenues. Companies with a ratio of R&D expenditures to gross revenue of:
    • 10% or less will continue to claim the OITC at a rate of 8%;
    • 10-20% will be eligible for an enhanced OITC rate that will increase from 8% to 12% on a straight-line basis; and
    • 20% or more will be eligible to claim the OITC at a rate of 12%.
  • Expansions to the Ontario Interactive Digital Media Tax Credit (OIDMTC) eligibility criteria to include broadcaster purchased or licensed film/television websites that host film, television, or Internet production content not previously assessed (before Nov 1, 2017).
  • A review of various tax incentives implemented in other jurisdictions such as preferential corporate income tax rates (i.e., patent boxes), tax refunds, tax deductions, and exemptions with the intention of developing a provincial incentive to encourage Intellectual Property (IP).
  • An additional $50M over 10 years for the New Transformative Technology Partnerships Fund for businesses, SMEs, and scale‐ups as well as post-secondary and research institutions to collaborate on new dynamic products and services in artificial intelligence (AI), 5G wireless communications, autonomous vehicles, advanced computing, and quantum technologies.

Business Growth

  • In parallel with the 2018 Federal Budget proposal to phase-out or grind the $500,000 small-business limit, the Ontario Budget proposes to phase out the small-business limit on a straight-line basis for CCPCs (and associated corporations) earning between $50,000 and $150,000 of passive investment income in taxation years beginning after 2018.
  • Ending the electricity debt retirement charge (DRC) for mid-sized commercial and industrial non-ICI or non-RRP, Class B consumers as of April 1, 2018.
  • An additional $100M over 10 years for the Eastern Ontario Development Fund (EODF) and the Southwestern Ontario Development Fund (SWODF) to support regional economic development by creating jobs, attracting private sector investment and promoting innovation, and encouraging collaboration and cluster development.
  • An additional $500M over 10 years for the New Economy Fund for investing in priority sectors such as advanced manufacturing, information and communication technology (ICT), life sciences, and clean-tech.
  • An additional $85M over 3 years for the Northern Ontario Heritage Fund to stimulate economic development and diversification across the region.
  • An additional $100M over 10 years for a new Greater Toronto & Hamilton Area Fund to support SMEs in the GTA and Hamilton area.

Export Market

  • Work to implement a Global Trade Strategy to diversify and promote trade in Ontario. This will include the Accelerate to International Markets program, the Global Growth Fund, and the Magnet Export Business Portal.

Startup Support

  • An additional $85M over 10 years for a new Venture Technology Fund to support a select number of very high‐potential, fast‐growing firms in expanding to become globally competitive.
  • An additional $15M over the next 3 years to NextAI, a Toronto based accelerator for early stage startups that leverage AI technologies.

Workforce Development

  • An additional $170M over 3 years for the new Ontario Apprenticeship Strategy to support transition into apprenticeship from high school, make the system easier to navigate, and to improve access for apprentices to high‐quality jobs upon completion.
  • Transforming the Apprenticeship Training Tax Credit (ATTC) into the new Graduated Apprenticeship Grant for Employers (GAGE) to encourage employers to ensure that apprentices complete their training.

Victoria, BC Lunch & Learn- Government Funding for R&D, Innovation and International Growth

There are many Government Funding programs available to assist Canadian businesses with expenses related to R&D, new product development, manufacturing process improvements, tapping into international markets and workforce development.

Join this lunch & learn to learn about some of these programs, how they fit in the difference stages of your corporate development, and also about the limitations of government funding and the need for alternate sources of working capital.

Some of the funding programs covered include:

  • SR&ED (Scientific Research & Experimental Development)
  • IRAP (Industrial Research Assistance Program)
  • SIF (Strategic Innovation Fund)
  • SDTC (Sustainable Development Technology Canada)
  • Growing Forward / Agri-Innovation
  • BCIP (Build in Canada Innovation Program)
  • Engage, CRD, Mitacs (grants for working with universities)
  • CanExport
  • Hiring & Training Grants

About the presenter:

Jaap Siekman MSc, PEng, PMP
LinkedIn Profile
Jaap is the Regional Manager for NorthBridge Consultants. He educates start-ups and growing companies on Government Funding programs that support R&D and Innovation in Canada.

Jaap has ~28 years’ experience in Engineering, Manufacturing, Product Development and Management in a variety of industries.

NorthBridge is a national consultancy firm, with offices in BC, Ontario and Quebec.

 

Tags: , , , , , , ,

Trade Show Funding for Fabtech

Don’t miss an opportunity to secure government funding for exhibition costs at FABTECH, North America’s largest metal forming, fabricating, welding, and finishing trade show.

If you are an Canadian company planning to exhibit at FABTECH 2017, you could be eligible for non-repayable funding to cover up to 50% of trade show expenditures through Ontario’s Export Market Access (EMA) and the federal CanExport programs.

Export Market Access (EMA) is a cost-sharing grant that supports 50% of eligible costs up to $30,000 per project to help Ontario Small- to Medium-Sized Enterprises (SMEs) cover costs incurred to develop export sales in foreign markets. Companies must apply by Sept 25th 2017, to be eligible for funding for FABTECH 2017. Eligible expenditures include: 

  • Marketing Tools: development of branding-related materials, promotional materials, and electronic media
  • Foreign Bidding Projects: bidding on foreign projects against foreign competition
  • Market Research: research done with the goal of providing more accurate international market targeting ($5,000 maximum)
  • Direct Contacts: participating in international trade shows, exhibits, or fairs which are supported by third parties such as governments

CanExport is a federal cost-sharing grant that supports 50% of eligible costs or up to a maximum of $100,000 to help Canadian SMEs cover costs incurred to pursue new export markets (that you have had no export activity to for the past 24 months). Companies must apply by October 2nd, 2017 to be eligible for funding for FABTECH 2017. Eligible expenditures include: 

  • Business travel costs
  • Trade show exhibitions
  • Market research
  • Adaptation of marketing materials
  • Legal fees associated with a distribution/representation agreement

Government funding can significantly increase your company’s budget for upcoming trade shows. Increased involvement with international trade shows can help with your company’s growth.  If you are planning to exhibit at trade shows please contact us today to discuss your eligibility for various sources of funding. 

FABTECH 2017 Show Details:

Date & Time:
November 6th – November 9th

Location:
McCormick Place
2301 S. King Drive
Chicago, IL 60616
(map)

Admission:
Register before the deadline (November 3, 2017) for complimentary admission to the shop floor. Admission after the deadline is US$50.

Show Dates/Hours:
Monday, November 6         10:00 AM – 6:00 PM
Tuesday, November 7            9:00 AM – 5:00 PM
Wednesday, November 8     9:00 AM – 5:00 PM
Thursday, November 9          9:00 AM – 3:00 PM

Tags: , ,

Trade Show Funding Deadline Extended

The Ontario Chamber of Commerce has released an update to the Export Market Access (EMA) program informing applicants that they will be accepting applications for trade shows that occur before June 30, 2017.

Do you have a global mindset but think your company is too small to be an exporter? Well, think again.

Recognizing that some companies naturally have a global mindset early on in their development, the EMA program was established to help small- to medium-sized enterprises (SMEs) access and expand their growth in foreign markets.

Through the EMA program,  companies can receive funding of up to 50% for a maximum of $30,000 towards eligible activities including international trade show attendance, development of marketing tools, investment in market research, and participation in foreign bidding projects.

Interested applicants are encouraged to review the new Application Guide, released in January 2017, to ensure that they meet eligibility requirements, or contact our government funding experts directly, for a free consultation.

Tags: , , ,

Going Global – Winter 2016 Newsletter

Our Winter 2016 newsletter is out!

NorthBridge Logo
NorthBridge Newsletter
Winter 2017 Follow us on: Facebook Twitter YouTube
Winter Banner

NorthBridge Winter 2017 Newsletter

Going Global

Trade

Editor’s Welcome — Navigating Around Trade Barriers

Venturing into new market territory is marked by risk and uncertainty, but can also bring many rewards and opportunities. For a country, increased trade can lead to greater Gross Domestic Product (GDP) per capita, higher skilled employees and technology related jobs, and lower cost of consumer products… Read more.

Trade Graph

Trade and Export Statistics

  • Canada is the 11th largest export economy in the world and the 23rd most complex economy, according to the Economic Complexity Index (ECI).
  • Despite positive growth in trade volume, the dollar value of world merchandise exports declined by 14% in 2015, to US$ 16.0 trillion, as export prices fell by 15%… Read more.
Globe

Global Trade for Canadian Businesses

There’s been an unusual amount of chatter about trade and trade agreements lately. That’s not surprising considering the prominence of trade debate in the recent U.S. presidential election campaigns… Read more.

Handshake

Reducing the Risk of Exporting

In order to mitigate various barriers and risks to trade, the Canadian government provides export financing, insurance, expertise and other business solutions to Small- and Medium-Sized Enterprises (SMEs) registered in Canada through various federal and provincial programs… Read more.

Made in Canada

Canada’s Free Trade Agreements

The Comprehensive Economic and Trade Agreement (CETA) will benefit the advanced manufacturing, agri-food, metal/mineral sectors. The European Union is the world’s largest economy, with 500 million people and annual economic activity of almost $17 trillion… Read more.

  • Subscribe to our feed
  • NorthBridge Consultants' Government Funding Blog is dedicated to bringing businesses news and information to help them identify and access the most appropriate government funding programs.

    We offer opinions and insider information that can provide a pulse on government initiatives, the health of the Canadian economy, and firsthand thoughts from Canadian business owners.

Most Recent Entries

Upcoming Events