Ontario Creates Magazine Fund
Highlights
This program is designed specifically for independent Ontario-based magazine publishers like you. It offers up to $80,000 in funding, which can cover up to 75% of your total project budget. This financial support can help you grow your business through new strategic initiatives, enabling you to achieve your business development and marketing goals.
What You Get
- Up to $80,000 in funding
- 75% of the total project budget covered
- Special consideration for diverse ownership with up to $15,000 in additional support
Benefits
- Flexible financing tailored to your sales revenue
- Government-backed support, ensuring reliability and trust
- Easy application process through the Online Application Portal (OAP)
By being approved, you can implement new strategies, expand your market reach, and achieve measurable results. The program is designed to be accessible, with clear guidelines and support available to help you through the application process.
Financing Details
Type of Financing: Tax Credit
Repayment Terms and Interest Rates:
- This is a tax credit, so there are no repayment terms or interest rates.
Eligible Expenses:
- Funds can be used for business development and marketing initiatives.
- Eligible projects must have clear, objective, and measurable results.
Ineligible Uses:
- Funds cannot be used for general operating expenses.
- Personal expenses or unrelated business activities are not covered.
Fees:
- There are no fees associated with applying for or receiving this tax credit.
Qualifications
- Must be an independent Ontario-based magazine publisher.
- Must be focused on business development through strategic initiatives.
- Eligible projects must have clear, objective, and measurable results.
Companies with ownership that is racially diverse, Francophone, or meeting other provincial diversity dimensions may be eligible for additional support.
Disqualifications:
- Companies not based in Ontario.
- Companies that do not focus on magazine publishing.
- Projects without clear, objective, and measurable results.
Description
The Ontario Creates Magazine Fund is designed to help your business grow. If you are an independent magazine publisher based in Ontario, this program can provide you with up to $80,000. This money can be used for new strategic initiatives that help you achieve your business development or marketing goals.
Eligible projects should have clear, measurable results. The funding can cover up to 75% of your total project budget, depending on your eligible sales revenue. This means you can focus on expanding your business without worrying about covering all the costs yourself.
For businesses that meet the provincial definition of diversity, there is a special Diversity Enhancement Stream. This stream offers up to $15,000 in project support, making it easier for diverse business owners to access the funds they need. This program is a great opportunity to take your business to the next level.
Program Steps
Register on the Online Application Portal (OAP): Go to Ontario Creates Online Application Portal and click on "Register" to create a user account. Ensure your company’s corporate information is registered.
Prepare Required Documentation: Gather and prepare the following documents:
- Financial statements
- Business plan
- Detailed project proposal
- Budget template (available on the program website)
- Applicant affidavit
Read the Program Guidelines: Carefully read the Magazine Fund Guidelines to understand the requirements and ensure your project aligns with the program objectives.
Watch the Information Session: View the pre-recorded Information Session and attend the live webinar ‘Application Tips + Q&A’ for additional guidance. Register for the webinar by 5:00 pm ET on the day prior to the event.
Attend Office Hours: If you have specific questions, register for the Office Hours sessions. This will provide an opportunity to ask questions directly to program coordinators.
Start the Application: Log in to the OAP, click on “Start new application,” and follow the onscreen directions to access the application form. Begin entering your information and save your progress as you go.
Complete and Review Application: Ensure all sections of the application form are completed accurately. Review your application thoroughly to confirm all information and documentation are correct.
Submit the Application: Submit your completed application through the OAP by the deadline (May 30, 2024, by 5:00 pm ET). Applications submitted by any other method will not be accepted.
Follow Up: After submission, monitor your email for any communication from Ontario Creates regarding your application status or requests for additional information.
Await Decision: Once your application is reviewed, you will be notified of the decision. If approved, follow the instructions provided for the next steps in receiving the funding.