Global Market Development Fund – Book
Highlights
This program is designed for businesses like yours, offering a unique opportunity to expand your reach internationally. By participating, you can receive up to $15,000 in funding, covering 50% of your total costs for activities such as targeted sales trips and attendance at international market events. This financial support can significantly reduce your expenses and help you grow your business on a global scale.
Key Benefits:
- Up to $15,000 in funding for international activities
- 50% cost coverage for eligible activities
- Pre-approved activities list to streamline your planning
- Simplified application process with fixed benchmarks for travel and accommodation costs
Applying for this program is straightforward, and the streamlined process ensures you can focus on your business growth. Approval will provide you with the financial backing needed to explore new markets, increase sales, and establish a stronger international presence. This is a valuable opportunity to enhance your business development with the support of government funding.
Financing Details
Type of Financing: Tax Credit
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates for this tax credit. It is a non-repayable financial incentive.
Eligible Expenses:
- Targeted sales trips
- Attendance at international market events
- Activities that support company growth and produce measurable business and market development results
Ineligible Expenses:
- The funds cannot be used for activities not related to international market development.
- General operating expenses not tied to the specified activities.
Fees:
- There are no fees associated with applying for or receiving this tax credit.
Qualifications
- Must be an Ontario-based company.
- Must be involved in the book publishing sector.
- Must participate in international activities that support company growth.
- Must produce measurable business and market development results.
Must register corporate information with the Ontario Creates Online Application Portal (OAP).
Disqualifications:
- Applications submitted by any method other than the Ontario Creates Online Application Portal (OAP).
Description
This program offers your business up to $15,000 to help you grow internationally. The funding can cover up to 50% of the total costs for activities like sales trips and attending international market events.
Key benefits include:
- Financial Support: Receive up to $15,000 to cover half of your expenses.
- Growth Opportunities: Use the funds for targeted sales trips and international market events, which can lead to measurable business and market development results.
This program is a great opportunity to expand your business's reach and increase your market presence globally.
Program Steps
Register on the Online Application Portal (OAP):
- Visit Ontario Creates Online Application Portal.
- Click on "Register" to create a user account.
- Ensure your company’s corporate information is registered.
Read the Program Guidelines Thoroughly:
- Download and review the Global Market Development Fund - Book Guidelines.
- Familiarize yourself with the program updates and changes for 2024-25.
Prepare the Required Documentation:
- Corporate Information: Ensure your company’s details are up-to-date in the OAP.
- Financial Statements: Recent financial statements of your business.
- Business Plan: Detailed plan outlining your international activities.
- Activity Budget: Use the GMD Activity Calculator to prepare your budget.
- Applicant Affidavit: Complete and sign the affidavit form.
Attend an Information Session (Optional but Recommended):
- Register for one of the webinars:
- Webinar #1: April 11, 2024, 2:00 pm - 3:30 pm ET
- Webinar #2: April 24, 2024, 10:30 am - 12:00 pm ET
- Complete the online registration form by 5:00 pm ET on the day prior to the webinar.
- Register for one of the webinars:
Start Your Application:
- Log in to the OAP and find the Global Market Development Fund - Book program.
- Click on “Start new application” and follow the onscreen directions.
Complete and Save Your Application:
- Enter all required information and upload the necessary documents.
- Save your progress regularly to ensure no data is lost.
- Review and edit your application as needed before submission.
Submit Your Application:
- Ensure all sections are completed and all documents are uploaded.
- Submit your application by the deadline: May 1, 2024, 5:00 pm ET.
Follow Up and Await Decision:
- Monitor your email for any communication from Ontario Creates.
- Be prepared to provide additional information if requested.
Contact for Assistance:
- For technical issues with the OAP, email [email protected].
- For program-related questions, contact the Program Coordinator at [email protected] or call 416-642-6652.
