City of Toronto announces Starter Company Plus Grant Program (Canada)

Funding Information

• The Starter Company Plus Grant program includes:
  • Up to 15 hours of business training,
  • A micro-grant of $5,000, and
  • Up to three months of advisory and mentoring services.

Eligibility Criteria

• Applicant Requirements
  • This stream 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,
    • Be a resident of Toronto with ability to demonstrate proof of physical address.
• Business Requirements
  • Eligible entrepreneurs must also have small businesses that meet the following criteria:
    • Must be a registered business at the time of application (Sole Proprietor, Partnership or Corporation) and this business registration documentation (Master Business Licence or Articles of Incorporation) must show a Toronto address,
    • Must have a commercial business bank account at the time of application which corresponds with Business Registration documentation,
    • Must have been in operation for minimum 6 months and up to 10 years and be able to demonstrate financial activity statements for this period,
    • Must have majority ownership and the ability to demonstrate proof of ownership and/or shareholder agreement,
    • Must be located in Toronto with ability to demonstrate proof of physical address,
    • Must not be a past recipient of the Retail Accelerator Program and any stream of the Starter Company Plus Grant or other funding from a Small Business Enterprise Centre within Ontario,
    • Businesses that require certification and/or license must be current at the time of application,
    • Businesses that operate year-round i.e. not seasonal businesses) with consistent revenues month over month,
    • Must be able to commit to in-person and/or virtual entrepreneurship training,
    • Must have already invested 25 per cent of the grant amount ($1,250) into the business at the time of application (cash, marketing efforts, equipment, commercial rent or other legitimate startup expenses).

Ineligibility Criteria

• 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 of existing products from other manufacturers (e.g. resellers of beauty and/or fashion accessories, phones and phone accessories, tablets, computers, etc.),
  • Real Estate Investment Trusts (REITs), retirement homes, and long-term care homes,
  • Technology applications which are not market-ready,
  • Student housing and other property rentals,
  • 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,
  • Franchises,
  • Collection agencies,
  • Businesses that raise investment capital for other businesses,
  • Businesses that include or promote financing from equity crowd funding (share capital),
  • Any businesses that produce and/or primarily retail products whose ingredients include any derivatives of marijuana/cannabis, psilocybin or any other substances included on Schedule I, II, III and/or IV of the Canadian Controlled Drugs and Substances Act (S.C. 1996, c. 19),
  • Recording artists and other similar ‘self-promoting’ artists and activities.

For more information, visit City of Toronto.