All posts by Nav Chandhoke

Canada-Saskatchewan Job Grant Program Meeting the Challenge with Increased Provincial Funding

Canada-Saskatchewan Job Grant Program Meeting the Challenge with Increased Provincial Funding

Released on March 31, 2017

The Government of Saskatchewan’s 2017-18 Budget provides an additional $1 million in funding from the province to the Canada-Saskatchewan Job Grant, for a total of $7.393 million.

This employer-driven program provides eligible employers with financial support to train recruits or their existing employees for new or better jobs in their organizations.

Since its introduction in 2014, the Canada-Saskatchewan Job Grant has provided $10.191 million in funding to meet the workforce needs of employers.  Employers provide one-third of the training costs, while the federal and provincial governments contribute the remaining two-thirds.

“The Government of Saskatchewan has identified workforce education and training as a core priority in our economic agenda,” Economy Minister Jeremy Harrison said.  “Our increased investments in the Canada-Saskatchewan Job Grant program directly address employer needs.  The funding will allow more employers to collaborate with training partners to meet their specific workforce needs.”

To better meet employer needs, applications will be accepted in phases this year.  The first phase will run from April 1 to August 31, 2017.  Employers with training start dates within this period may apply to the program during this phase.  Details on the next phase will be communicated before the end of phase one.

“Dividing the program into phases will provide employers more opportunities to apply to the Canada-Saskatchewan Job Grant throughout the 2017-18 program year,” Harrison said.  “Having more qualified workers in the labour market will help Saskatchewan capture new economic opportunities and meet the challenges that come with growth.”

For more information, or to apply to the Canada-Saskatchewan Job Grant, visit the program page at www.saskatchewan.ca/job-grant.

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For more information, contact:

Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca

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Canada funds $125 million Pan-Canadian Artificial Intelligence Strategy

Canada funds $125 million Pan-Canadian Artificial Intelligence Strategy

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How my company raised more than $1-million in government grants

How my company raised more than $1-million in government grants

When I quit a fairly lucrative – albeit stressful and time-consuming – consulting job in 2010 without any job prospects, I experienced a feeling I believe a lot of entrepreneurs have felt: a fire inside me to start something new. When I and my business partners, who are still with me today, began RateHub.ca that year, we had virtually no startup money.

We bootstrapped the website launch and didn’t go after major venture capital investors. Since then, with a bit of savvy profit reinvestment, new business acquisitions and product expansion, we’ve been able to scale our growth and remain profitable and successful.

A huge part of our growth has been funded through government grants. To date, grants have brought in more than $1-million – capital that hasn’t diluted us and doesn’t need to be paid back. Most recently, we secured a contribution of just under $500,000 in 2016 from the Industrial Research Assistance Program (IRAP), a federal program supporting technology innovation in Canada.


What kinds of grants are available?

If you hire individuals with a STEM (science, technology, engineering and mathematics) background or have a focus on youth hiring, there are federal and provincial funding programs. We’ve had great success with Youth Employment Grants that provide funding for bringing on resources under the age of 30 as well as the Canada-Ontario Job Grant (COJG), which is funding available to small, medium or large businesses to support short-term training for existing employees.

Funding in this area can also take the form of tax credits. The Ontario Interactive Digital Media Tax Credit (OIDMTC) offers a 40-per-cent tax credit for companies that develop and market their own digital media products, including gaming or in our case, informational products.

Finally, if you’re hiring co-op students from accredited programs for internships, be sure to tap into the Co-operative Education Tax Credit, which varies by province.

How do I find these grants?

If there’s one thing entrepreneurs have in common, it’s that they love to talk. Funding inevitably comes up as a topic of conversation at events, so the best source for funding information is directly from the companies who have successfully applied in the past.

And think regionally. Our development team works out of Kingston. Because we’re an employer there, we became eligible for funding through the Kingston Employment Youth Services (KEYS).

How do I know a grant is right for me?

The first step in applying for any grant is to read the eligibility terms carefully. You’ll save yourself hours of work if you understand the funding requirements. Only apply for the ones that are a great fit.

Don’t confuse eligibility with a challenging application process. Your organization may not be structured in a way that aligns exactly with the application, but don’t let that deter you. Consider the application process like an investment pitch, and look for programs that allow you to showcase the amazing work you’re doing as well as your future plans.

Our latest IRAP project is a great example. IRAP provides funding based on your company’s opportunity for growth. The program’s mandate is structured around merit. If you can show that you have a technologically challenging project that will lead to job, revenue, and profit growth, it may be able to support you financially and/or with expertise and guidance.

Be prepared

Searching for, applying for and waiting for grants can take time. While you’re waiting for a youth grant, you could lose a possible candidate because you can’t confirm the offer until the funding comes through.

Throughout various applications, I’ve never been asked for information I didn’t already have on hand. Have your paperwork, financial and payroll information in order, your plans clearly laid out and be ready to provide supporting documentation for your application. Once you’ve been approved, the real work begins. You’ll usually need to file for claims, most often on a monthly basis. Also, claims become more complicated with larger projects.

RateHub applies for four or five grants each year. It’s made a profound difference in our ability to support our company’s growth. Don’t be intimidated or overwhelmed. Approach it like you do the rest of your business: Do your research, showcase your success and winning strategy, talk to other entrepreneurs and take it one step at a time.

Alyssa Furtado is the founder of RateHub.ca, Canada’s mortgage and credit card comparison site.

Source: TheGlobe&Mail, Friday September 2, 2016

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Sandvine Reports Q4 2015 Results

Sandvine Reports Q4 2015 Results

Sandvine Reports Q4 2015 Results:

WATERLOO, ON, Jan. 7, 2016 /CNW/ – Sandvine, (TSX:SVC) a leading provider of intelligent network policy control solutions for fixed and mobile operators, today reported revenue of $35.0 million for its fourth quarter of 2015, which is in line with the Company's estimate published on December 10. Net income for the quarter was $25.2 million, or $0.17 per diluted share, of which $17.6 million, or $0.12 per diluted share, related to the recognition of deferred tax assets. All results are reported in U.S. dollars under International Financial Reporting Standards (IFRS), unless otherwise specified.

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Key tags will be mailed in B.C. starting January 18 – War Amps “Key Tags at Work” for 70 years

Key tags will be mailed in B.C. starting January 18 – War Amps "Key Tags at Work" for 70 years

Key tags will be mailed in B.C. starting January 18 – War Amps "Key Tags at Work" for 70 years:

B.C., Jan. 18, 2016 /CNW/ – The War Amps begins its 2016 key tag mailing to B.C. residents this week with the theme "Key Tags at Work," marking the 70th anniversary of the Association's Key Tag Service.  

In the letter accompanying the key tags, a mother, describes how The War Amps has provided emotional and financial support to her family, from the day her daughter, Trinity, 11, was born a left leg amputee.

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Key tags will be mailed in N.B. starting February 1st – War Amps “Key Tags at Work” for 70 years

Key tags will be mailed in N.B. starting February 1st – War Amps "Key Tags at Work" for 70 years

Key tags will be mailed in N.B. starting February 1st – War Amps "Key Tags at Work" for 70 years:

NEW BRUNSWICK, Feb. 1, 2016 /CNW/ – The War Amps begins its 2016 key tag mailing to New Brunswick residents this week with the theme "Key Tags at Work," marking the 70th anniversary of the Association's Key Tag Service.  

In the letter accompanying the key tags, a mother, describes how The War Amps has provided emotional and financial support to her family, from the day her daughter, Trinity, 11, was born a left leg amputee.

Continue reading Key tags will be mailed in N.B. starting February 1st – War Amps “Key Tags at Work” for 70 years

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Global Growth Assets Inc. Announces Launch of Two New Products

Global Growth Assets Inc. Announces Launch of Two New Products

Global Growth Assets Inc. Announces Launch of Two New Products:

RICHMOND HILL, ON, Feb. 1, 2016 /CNW/ – Global Growth Assets Inc. and its distributors Global RESP Corporation and Global Maxfin Investments Inc. are proud to announce the launch of two new individual scholarship plans – the Legacy Education Savings Plan and the Advanced Education Savings Plan.

The launch of Global's new products addresses increasing client demand for innovative plans with flexible fee options, enabling families from all walks of life to build financial stability for their children's educational future.

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RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec’s Families Don’t Know About RESP Grants

RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec's Families Don't Know About RESP Grants

RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec's Families Don't Know About RESP Grants:

More than half the families in Quebec prioritized the RRSP in 2015, while only a quarter invested in an RESP

QUEBEC CITY, Feb. 8, 2016 /CNW/ – With tax season around the corner, many Quebecers are wondering which investment vehicle to prioritize. A recent survey by the CROP polling firm commissioned by the RESP expert Universitas found that nearly half the families surveyed don't know about the financial advantages the RESP offers. Over the last year, only 27% of Quebec's families invested in an RESP, thus missing out on the generous government grants to which their children are entitled for post-secondary education. Results show that families continue to favour the more traditional RRSP (52%) and TFSA (33%). Furthermore, only 9% of the families surveyed believe that, based on their current situation, the RESP should be their first investment choice.

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Canfor Pulp Products Inc. Announces Fourth Quarter 2015 Results and Quarterly Dividend

Canfor Pulp Products Inc. Announces Fourth Quarter 2015 Results and Quarterly Dividend

Canfor Pulp Products Inc. Announces Fourth Quarter 2015 Results and Quarterly Dividend:

VANCOUVER, Feb. 17, 2016 /CNW/ – Canfor Pulp Products Inc. ("CPPI") (TSX: CFX) today reported net income of $29.7 million, or $0.43 per share, for the fourth quarter of 2015, compared to $31.2 million, or $0.45 per share, for the third quarter of 2015 and $20.7 million, or $0.29 per share, for the fourth quarter of 2014. For the year ended December 31, 2015, the Company's net income was $106.6 million, or $1.52 per share, compared to $89.5 million, or $1.26 per share, for 2014.

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Canfor Reports Results for Fourth Quarter of 2015

Canfor Reports Results for Fourth Quarter of 2015

Canfor Reports Results for Fourth Quarter of 2015:

VANCOUVER, Feb. 17, 2016 /CNW/ – Canfor Corporation (TSX: CFP) today reported net income attributable to shareholders ("shareholder net income") of $1.6 million, or $0.01 per share, for the fourth quarter of 2015, compared to a net loss attributable to shareholders of $17.3 million, or $0.13 per share, for the third quarter of 2015 and shareholder net income of $29.9 million, or $0.22per share, for the fourth quarter of 2014.  For the twelve months ended December 31, 2015, the Company's shareholder net income was $24.7 million, or $0.18 per share, compared to shareholder net income of $175.2 million, or $1.28 per share, reported for the comparable period of 2014.

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