This program is a fantastic opportunity for your business to innovate and grow. It offers up to $10,000 in grants, covering 50% of eligible costs. This funding can be used for various purposes, such as trade shows, marketing, website development, training, certifications, market research, intellectual property costs, and export development. These resources can help you reach new markets, expand sales, and create jobs.

Why apply? The program provides financial support that can significantly reduce your expenses on essential business activities. Unlike other financing options, this grant does not need to be repaid, making it a cost-effective way to invest in your business's future. Additionally, the program allows you to apply multiple times for different projects, giving you ongoing support as your business evolves.

What's in it for you? By being approved, you gain access to valuable resources and expertise that can help you challenge the status quo and innovate. The application process is competitive but straightforward, with monthly reviews ensuring timely feedback. This program is designed to help businesses like yours thrive and contribute to the economy.

Type of Financing:

• Grant: The Step Forward Entrepreneurs Program (SFEP) offers grants to support your business.

Repayment Terms and Interest Rates:

• No Repayment Required: As this is a grant, you do not need to repay the funds.

Eligible Expenses:

• Trade Shows
• Marketing and marketing materials
• Website development and updates
• Training, certifications, or licenses
• Market/product research or market-entry fees
• Intellectual property costs and legal fees
• Business growth expertise
• Export development
• Business opportunity assessments

Ineligible Expenses:

• Staff wages or administrative costs
• Rolling stock
• Any other internal costs associated with the project

Fees:

• No Fees: There are no fees associated with applying for or receiving this grant.

The Step Forward Entrepreneurs Program (SFEP) is designed to help your business grow and innovate. You can receive up to $10,000 in funding to support various business activities. This money can be used for:

• Trade shows
• Marketing and marketing materials
• Website development or updates
• Training, certifications, or licenses
• Market and product research or market-entry fees
• Intellectual property costs and legal fees
• Business growth expertise
• Export development

New: Business opportunity assessments are now eligible for support.

The program will cover up to 50% of eligible costs before tax. There are four funding levels:

• $2,500 grant for a minimum project spend of $5,000
• $5,000 grant for a minimum project spend of $10,000
• $7,500 grant for a minimum project spend of $15,000
• $10,000 grant for a minimum project spend of $20,000

You will need to register as an IION client and complete a short results survey after the project. This ensures ongoing support for your business. This program is a great opportunity to expand your market, improve your products, and drive business growth.

1. Contact IION for Initial Guidance:

   • Reach out to Matthew at 705-845-0616 or email [email protected] for clarity on the program and its qualifying conditions.

2. Prepare Necessary Documentation:

   • Gather the following documents:
     • Proof of incorporation and for-profit status
     • Business registration details
     • Financial statements
     • Business plan outlining the project and its potential economic impact
     • Quotes or estimates for project costs
     • Any relevant market research or product research documents

3. Complete the Application Form:

   • Fill out the application form provided by IION. Ensure all sections are completed accurately.

4. Submit Application Before Deadline:

   • Submit your application before the last working day of the month to be included in the monthly competitive review process. It is recommended to submit in advance for feedback and possible revisions.

5. Review and Revise (if necessary):

   • Allow IION to review your application and provide comments or suggested revisions. Make any necessary changes and resubmit if required.

6. Await Approval Notification:

   • Wait for the notification of approval. This will include the funding level and any additional requirements.

7. Register as an IION Client:

   • Upon approval, register as an IION client to access ongoing support and resources.

8. Complete the Project:

   • Proceed with the project as outlined in your application. Ensure all costs are incurred after application approval.

9. Submit Final Invoices and Proof of Payment:

   • After project completion, submit final invoices and proof of payment within the 6-month timeframe (or by the program's deadline).

10. Complete Post-Project Surveys:

    • Fill out the mandatory post-project short results survey and an annual survey to help IION continue supporting the business community.

Following these steps will help you successfully apply for and benefit from the program.