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	<title>Matt Mongeon</title>
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		<title>CanExport Funding During COVID-19: Frequently Asked Questions (FAQs)</title>
		<link>https://tradeready.ca/2020/topics/international-trade-finance/canexport-funding-during-covid-19-frequently-asked-questions-faqs/</link>
					<comments>https://tradeready.ca/2020/topics/international-trade-finance/canexport-funding-during-covid-19-frequently-asked-questions-faqs/#comments</comments>
		
		<dc:creator><![CDATA[Matt Mongeon]]></dc:creator>
		<pubDate>Tue, 29 Sep 2020 14:21:22 +0000</pubDate>
				<category><![CDATA[Featured Stories]]></category>
		<category><![CDATA[International Trade Finance]]></category>
		<category><![CDATA[canadian export grant]]></category>
		<category><![CDATA[CanExport]]></category>
		<category><![CDATA[CanExport FAQ]]></category>
		<category><![CDATA[COVID-19]]></category>
		<category><![CDATA[government export grant]]></category>
		<category><![CDATA[Mentor Works]]></category>
		<guid isPermaLink="false">http://test.tradeready.ca/?p=32018</guid>

					<description><![CDATA[<p>The CanExport program provides up to $75k in funding for businesses seeking to access new international markets. Find answers to common questions and COVID-19 updates in this FAQ.</p>
<p>The post <a href="https://tradeready.ca/2020/topics/international-trade-finance/canexport-funding-during-covid-19-frequently-asked-questions-faqs/">CanExport Funding During COVID-19: Frequently Asked Questions (FAQs)</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p><img fetchpriority="high" decoding="async" class="alignnone size-full wp-image-32022" src="https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ.jpg" alt="Man sitting on couch with laptop looking at graphs and using calculator" width="1300" height="867" srcset="https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ.jpg 1300w, https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ-300x200.jpg 300w, https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ-1024x683.jpg 1024w, https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ-768x512.jpg 768w, https://tradeready.ca/wp-content/uploads/2020/09/CanExport-funding-FAQ-1200x800.jpg 1200w" sizes="(max-width: 709px) 85vw, (max-width: 909px) 67vw, (max-width: 1362px) 62vw, 840px" /></p>
<p>With border closures, reduced consumer spending, and mandatory business shutdowns, the ongoing coronavirus pandemic has <a href="https://tradeready.ca/2020/topics/market-entry-strategies/the-5-most-common-mistakes-smes-make-in-drafting-purchase-and-sales-contracts-solutions-for-smes-during-the-covid-19-crisis/">hit many businesses hard</a> with Canadian manufacturers being among the hardest hit. The Canadian government has acted by introducing <a href="https://www.mentorworks.ca/what-we-offer/government-funding/covid-19/"><strong>COVID-19 business support programs</strong></a>, as well as changes to current government funding programs.</p>
<p>The <strong>CanExport</strong> Canadian government funding program was introduced in 2016 to help Canadian exporters enter foreign international markets by mitigating risks through government grants. This program has seen a massive temporary change as a direct result of COVID-19, leading to travel costs no longer being eligible for funding.</p>
<p><em><blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"></em>Canadian businesses may access up to 75% of costs associated with export marketing projects to a maximum $75,000 per application through CanExport funding.<em></p>
<p><cite></cite></p>
</span>
</blockquote></em></p>
<p>Businesses can still receive grants for eligible projects such as virtual events, search engine optimization, marketing tools, and <a href="https://tradeready.ca/2017/topics/researchdevelopment/top-5-market-research-tips-straight-experts/">market research</a>.</p>
<h2>About CanExport Market Development Grants</h2>
<h3>What is CanExport?</h3>
<p>The <a href="https://www.mentorworks.ca/what-we-offer/government-funding/business-expansion/canexport"><strong>CanExport</strong></a> program is a popular Canadian government grant that supports businesses as they explore/expand new and under-developed international markets.</p>
<p>As mentioned previously, this program has temporarily suspended grants towards travel or trade show-related projects, but they are continuing to support businesses with non-travel-related eligible activities such as marketing expenses, market research, and virtual events.</p>
<h3>How much funding could my business receive through the program?</h3>
<p>The full list of eligibility criteria, as well as eligible project costs can be seen below.</p>
<p><em><blockquote class="blockquote_end style01" align="left">
<span>
<p class="end-quote"></em>If your business is eligible for funding, you may be able to access up to <strong>75% of project costs</strong> to a maximum <strong>$75,000</strong> in non-repayable funding per project.<em></p>
<p><cite></cite></p>
</span>
</blockquote></em></p>
<p>The maximum annual CanExport funding per applicant is <strong>$99,999</strong> per government fiscal year, which begins April 1 and ends March 31.</p>
<h2>CanExport Funding Eligibility Factors</h2>
<h3>What businesses are eligible for CanExport grants?</h3>
<p>The CanExport program has slightly altered their eligibility criteria to be more inclusive with their funding support for businesses that can use this funding:</p>
<ul>
<li>Be a for-profit organization;</li>
<li>Maintain 1 to 500 full-time employees;</li>
<li>Earn annual revenues ranging from $100,000 to $100,000,000;</li>
<li>Be incorporated federally or classified as a limited liability partnership (LLP);</li>
<li>Create eligible project expenses of $20,000 or more; and</li>
<li>Be financially stable and able to pay all project expenses not covered by the program.</li>
</ul>
<p>With major changes happening to the CanExport program as COVID-19 evolves, be sure to review most up to date information on <a href="https://www.mentorworks.ca/blog/government-funding/canexport-covid19/"><strong>CanExport eligibility criteria</strong></a>.</p>
<h3>What activities and projects are eligible for CanExport funding?</h3>
<p>The <strong>CanExport </strong>program prioritizes approving projects that they believe will maximize a Canadian business&#8217; exposure and help them <a href="https://tradeready.ca/2020/featured-stories/3-key-ways-companies-are-pivoting-business-models-to-stay-profitable-amid-the-pandemic/">find clients in new international markets during COVID-19</a>. This includes activities such as:</p>
<ul>
<li>Marketing tools creation, adaptation, and translation;</li>
<li>Business, tax, and legal advice;</li>
<li>Participation at virtual trade events and fairs;</li>
<li>Interpretation services;</li>
<li>Search engine optimization (SEO);</li>
<li>IP protection, certification, and adaptation; and</li>
<li>Market research, <a href="https://tradeready.ca/2018/topics/market-entry-strategies/decide-feasible-for-company-to-diversify-global-markets/">feasibility studies</a>, identification of key contacts, and b2b facilitation.</li>
</ul>
<p>Similarly to the eligible businesses, the eligible activities that can be funding through CanExport have changed, and will continue to change as the pandemic evolves. View the latest <a href="https://www.mentorworks.ca/blog/government-funding/canexport-covid19/"><strong>eligible projects through CanExport</strong></a>.</p>
<h2>How to Apply for CanExport Funding</h2>
<p><strong>CanExport</strong> funding applications should be submitted at least eight weeks prior to incurring project expenses. Application forms can be accessed online and once completed will be approximately 8-10 pages in length, plus supporting documentation.</p>
<p>Businesses can begin executing a project once the company’s application has received formal approval into the CanExport program and a contribution agreement has been signed. Have more questions? View additional <a href="https://www.mentorworks.ca/blog/government-funding/canexport-faq/"><strong>CanExport FAQs</strong></a>, or<strong> discuss your business&#8217; eligibility for CanExport funding </strong><strong>with a member of <a href="https://www.mentorworks.ca/">Mentor Works</a></strong><strong>.</strong></p>
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Disclaimer: The opinions expressed in this article are those of the contributing author, and do not necessarily reflect those of the <a href="https://fittfortrade.com/">Forum for International Trade Training</a>.
</div>
</div>
<p>The post <a href="https://tradeready.ca/2020/topics/international-trade-finance/canexport-funding-during-covid-19-frequently-asked-questions-faqs/">CanExport Funding During COVID-19: Frequently Asked Questions (FAQs)</a> appeared first on <a href="https://tradeready.ca">Trade Ready</a>.</p>
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