By Teri Kirk
When exploring their options for growth, many entrepreneurs first consider expanding or exporting south of the border to the United States. In fact, you maybe already have a small office in the U.S. or begun to export your shipments to neighbouring states.
Since we launched The Funding Portal, we’ve heard from many Canadian business owners how eager they are to tap into the U.S. market—and the funding opportunities that come with it. Yet, many are overwhelmed with the complex funding procedures and the sheer number of funds available. In addition, opportunities in the U.S. tend to be more time-sensitive, creating a real need for an accurate, up-to-date, and comprehensive funding search tool.
That’s why we’ve set out to make the process as easy as possible for businesses like yours.
Earlier this month, the Portal launched a new free U.S. government funding Search Tool to support Canadian businesses in taking advantage of billions in federal and state-based funds.
According to the Portal’s estimates, U.S. governments at the state and federal level awarded $180 billion in funding to businesses in 2014. In comparison, the Canadian government funding market is currently sized at $28 billion in grants and tax credits to business each year.
From a sectorial perspective, American manufacturers came out on top, with $24 billion in awards from the U.S. government. Similarly, manufacturing was also the top sector in Canada to secure funding last year with $3.1 billion. With so many funding dollars available, conducting manual searches to identify funds for your business would take months; this truly highlights the benefits of using today’s online tools to source funding.