The Government of Canada today announced the launch of the Canada Digital Adoption Program (CDAP), to help Canadian small- and medium-sized businesses grow their online presence and upgrade or adopt digital technologies. This investment, which will provide $4 billion over four years, will support up to 160,000 small businesses and create good middle-class jobs across the country, including thousands of jobs for young Canadians.
Under the CDAP, Canadian small- and medium-sized enterprises (SMEs) will assess their digital readiness and apply for grants and loans online.
This funding will help small businesses leverage e-commerce opportunities, upgrade or adopt digital technologies, and digitize their operations to stay competitive and meet their customers’ needs in the digital marketplace.
Depending on their size, specific needs, and goals, businesses can apply for funding through the Grow Your Business Online or Boost your Business Technology streams.
Canada Digital Adoption Program (CDAP) overview
Announced in Budget 2021, the CDAP will support 160,000 small businesses and help create thousands of jobs, including nearly 30,000 job placements for young Canadians to gain valuable work experience, while helping businesses succeed.
Funding under the CDAP comprises $1.4 billion in grants and $2.6 billion in loans from the Business Development Bank of Canada (BDC) to help SMEs cover the cost of implementing digital transformation plans.
Grow Your Business Online
It provides micro grants of up to $2,400 and youth e-commerce advisors’ support to help small businesses implement digital storefronts and e-commerce capabilities.
Boost Your Business Technology
This fund provides grants covering 90 percent of costs up to $15,000 to access advisory services to develop a digital adoption plan, access to zero percent interest loans from the BDC, as well as opportunities for student placements.
Check to see which grant are you or your business eligible for, here.