What is the Canadian Digital Adoption Plan?
Updated: Nov 9, 2022
To stay competitive and grow, small and medium-sized businesses need to adopt new digital tools.
In Budget 2021, the Government of Canada announced the $4 billion Canada Digital Adoption Program (CDAP) to help get your business online, give your e-commerce presence a boost or help digitalize your business's operations.
CDAP provides funding and support to businesses, as well as training and work opportunities for young Canadians.
Canada Digital Adoption Program (CDAP) aims to help small businesses perform better by adopting digital technologies. The initiative intends to assist Canadian SMEs in becoming more efficient, taking advantage of e-commerce and being more competitive in the domestic and international markets.
This new initiative intends to assist small and medium-sized businesses in embracing new digital technologies. It translates to funding for technological advisory skills and financial choices for technology adoption in manufacturing and food processing businesses.
To get started, you need a CDAP Digital Advisor thats where we come in.
CDAP Eligibility Criteria
$500,000+ in Revenue. Have earned at least $500,000 of annual revenues – but not more than $100,000,000 – in at least one of the previous three tax years.
< 500 Employees. Between 1 – 499 full time equivalent employees. Part-time employees are pro-rated as percentage of FTEs
For Profit Private Company. Is a sole proprietor whose owner is a Canadian resident or Is a business incorporated under the laws of Canada or a province or territory
Any Province or Territory. Canadian-controlled Private Corpora
tion (CCPC) incorporated under the laws of Canada, or a province or territory as defined by the Canada Revenue Agency
Boost Your Business Technology Grant
CDAP consists of two parts, a grant then a loan.
Boost your Business Technology funding is for SMEs to improve their position in the digital marketplace. Businesses that meet the minimum requirements are eligible to get this funding. The Boost Your Business Technology funds will support around 160,000 SMEs.
Businesses seeking this funding may be aiming to adopt new digital inventory management systems, customer relationship software, network security software, and other technologies like artificial intelligence, machine learning, and robotics that can boost their bottom line.
SMEs can apply for the Boost Your Business Technology grant to cover 90% of the costs involved in hiring a certified digital advisor such as GrowthFinder Pro to create a strategic digital adoption plan, up to a maximum of $15,000.
Once funded, SMEs will be also able to apply for an interest-free loan of up to $100,000 from the Business Development Bank of Canada to help them implement their digital adoption plan and acquire new technologies.
You also get access to a network of Canadian digital experts such as GrowthFinder Pro to meet and who will assist you maximize digital tools efficiently.