The Starter Company Plus Grant Overview
The Starter Company Plus Grant supports eligible entrepreneurs looking to build their small businesses. Select entrepreneurs will receive training, mentoring, and advice and will be eligible to apply for a micro-grant of $5,000 to assist with the growth and expansion of their business. Two funding streams are available at different times of the year: for female founders and general businesses. The current round of applications is for general businesses.
The Starter Company Plus Grant program includes:
- Over 20 hours of business training,
- Micro-grant of $5,000, and
- Up to six months of advisory services.
The Starter Company Plus Grant program will open for applications on March 13, 2023, at 12:01 a.m. until March 31.
Eligibility and Requirements:
Applicant requirements
This round of the Starter Company Plus Grant is available to entrepreneurs that meet the following criteria:
- Be a Canadian citizen or permanent resident,
- Be 18 years of age or older,
- Not be attending school or planning to return to school while enrolled in the program,
- Be devoting a minimum of 35 hours per week to their small business and not employed anywhere else,
- Not be enrolled in any other government-funded employment program, and
- Be a resident of Toronto with the ability to demonstrate proof of physical address.
- Business requirements
- Eligible entrepreneurs must also have small businesses that meet the following criteria:
- Must be registered at the time of application (Sole Proprietor, Partnership or Corporation) and this documentation must show a Toronto address,
- Must have a commercial business bank account which corresponds with Business Registration documentation,
- Must have majority ownership and the ability to demonstrate proof of ownership and/or shareholder agreement,
- Must be located in the City of Toronto with the ability to demonstrate proof of physical address,
- Businesses that require certification and/or license must be current at the time of application,
- Must have been in operation for a minimum of six months and be able to demonstrate financial activity statements for this period,
- Can provide a 25% investment of the grant amount ($1,250), and
- Must be able to commit to 12 hours of virtual entrepreneurship training.
Ineligible businesses
The following businesses are ineligible for a Starter Company Plus Grant:
- Nightclubs, lounges, cabarets, discotheques, music festivals and events or other similar activities,
- Online businesses that are resellers,
- REIT’s, retirement homes, and long-term care homes,
- Technology apps which are not market-ready,
- Student housing and other residential rental accommodation,
- Childcare centres, including daycares,
- Home care for elderly and/or vulnerable populations,
- Quasi-financial institutions or money service and money transfer businesses (including insurance companies and financial services companies),
- Cryptocurrency (e.g. Bitcoin) businesses and traders,
- Businesses brokering funds or taking on a fiduciary duty handling funds for clients (including investment, insurance, and real estate brokers who handle funds in trust for clients),
- Brokers (insurance, real estate, investment, etc.) who are working for an existing firm are not seen to be creating a new business,
- Businesses and platforms that raise funds for charities,
- Charities and non-profits and social enterprises,
- Franchises,
- Collection agencies,
- Businesses that raise investment capital for other businesses,
- Businesses that include or promote financing from equity crowdfunding (share capital),
- Medical marijuana and cannabis retailers, and
- Recording artists and other similar ‘self-promoting’ artists and activities.
How to Apply
The online application form opens on March 13, 2023, at 12:01 a.m., but pre-screening can be completed in advance using the application button below. The deadline for applications is March 31, 2023, at 11:59 p.m.
For any questions or help completing the form, please contact the City of Toronto Small Business Centre at 416-392-6646 or smallbusiness@toronto.ca.
