Major federal funding for small business announced in Kitchener

Big news today for small and medium-sized businesses

At an announcement made at Communitech in Kitchener Minister of International Trade Chrystia Freeland unveiled a major federal  funding program.

The program is called CanExport and it is designed to help small and medium-sized businesses expand in export markets.

The program will offer $50 million over five years to small and medium-sized business with under 250 employees and an annual revenue between $200, 000 and $50 million.

CanExport will provide up to $100, 000 in matching contributions for export development.

In her speech Minister Freeland said it is companies like the many at Communitech who can utilizes this funding.

“Companies who we really want to help are exactly the kind of companies who are incubating at Communitech, they are just getting started, and a key to success for a start up is getting sales right away and getting sales internationally.” Said Freeland.

Freeland also stated that applications for CanExport will begin today.

The application guide to CanExport can be found here: Applicants Guide

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