No Free Lunch, Or Start-Up Grants

Beware of companies bearing great promises of Government Grants…….while asking you for your credit card number. Do not provide your credit card information to these companies. The Competition Bureau of Canada received close to 1,000 complaints on this topic last year.

These companies are charging people up to $700 for outdated information on government finance programs. You don’t have to pay this. You can get accurate, updated details on BC business programs for free in the 2010 Overview of Financing at Small Business BC’s home page.

When you are starting your business, promises of “inside information” on government grants can be very attractive. Unfortunately for BC entrepreneurs, there are currently only three public offices offering grants to you for starting your business: Canada Council, National Research Council, and the Investment Agriculture Foundation of British Columbia. Getting money from any of these offices requires a focused and promising business plan.

So unless you are an artist, farmer, or have a scientific related invention, there are no start-up grants available for BC businesses right now. There are loans available to help you get your business started but you’ll need a well prepared business plan that includes a schedule to repay the money you borrowed.

I’ve talked to too many people, eight in the last month, that have asked about government grants AFTER they’ve purchased these products. So please come to Small Business BC’s home page before you give your credit card number to a company for government grant information.

Mark.

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