Starter Company Plus Program - General Business Stream (Toronto)

Overview of the Starter Company Plus Program - General Business Stream (Toronto) program:

This program supports eligible entrepreneurs in Toronto by combining training, mentoring/advisory support, and a small funding boost. The City offers up to 15 hours of business training, up to 3 months of advisory/mentorship services, and a $5,000 micro-grant to assist with growth and expansion. The program is offered in multiple “streams” (such as a general business stream and a specialized Trade Accelerator stream) with slightly different eligibility rules.

Benefits of the Starter Company Plus Program - General Business Stream (Toronto) program:

• The program offers opportunities for training in business planning, marketing, social media, bookkeeping, and financial management. Plus, there are funding opportunities of up to $5,000 for eligible businesses approved into the program.

Eligibility criteria of the Starter Company Plus Program - General Business Stream (Toronto) program:

• This stream of the Starter Company Plus Grant is available to entrepreneurs that meet the following criteria:
• Be a Canadian citizen or permanent resident,
• Be 18 years of age or older,
• Not be attending school or planning to return to school while enrolled in the program,
• Be devoting a minimum of 35 hours per week to their small business and not employed anywhere else,
• Not be enrolled in any other government-funded employment program,
• Be a resident of Toronto with ability to demonstrate proof of physical address.
• Eligible entrepreneurs must also have small businesses that meet the following criteria:
• Must be a registered business at the time of application (Sole Proprietor, Partnership or Corporation) and this business registration documentation (Master Business Licence or Articles of Incorporation) must show a Toronto address,
• Must have a commercial business bank account at the time of application which corresponds with Business Registration documentation,
• Must have been in operation for minimum 6 months and up to 10 years and be able to demonstrate financial activity statements for this period,
• Must have majority ownership and the ability to demonstrate proof of ownership and/or shareholder agreement,
• Must be located in Toronto with ability to demonstrate proof of physical address,
• Must not be a past recipient of the Retail Accelerator Program and any stream of the Starter Company Plus Grant or other funding from a Small Business Enterprise Centre within Ontario,
• Businesses that require certification and/or license must be current at the time of application,
• Businesses that operate year-round i.e. not seasonal businesses) with consistent revenues month over month,
• Must be able to commit to in-person and/or virtual entrepreneurship training,
• Must have already invested 25 per cent of the grant amount ($1,250) into the business at the time of application (cash, marketing efforts, equipment, commercial rent or other legitimate startup expenses).
• Ineligible Businesses
• The following businesses are ineligible for a Starter Company Plus Grant:
• Nightclubs, lounges, cabarets, discotheques, music festivals and events or other similar activities,
• Online businesses that are resellers of existing products from other manufacturers (e.g. resellers of beauty and/or fashion accessories, phones and phone accessories, tablets, computers, etc.),
• Real Estate Investment Trusts (REITs), retirement homes, and long-term care homes,
• Technology applications which are not market-ready,
• Student housing and other property rentals,
• Childcare centres, including daycares,
• Home care for elderly and/or vulnerable populations,
• Quasi-financial institutions or money service and money transfer businesses (including insurance companies and financial services companies),
• Cryptocurrency (e.g. Bitcoin) businesses and traders,
• Businesses brokering funds or taking on a fiduciary duty handling funds for clients (including investment, insurance, and real estate brokers who handle funds in trust for clients),
• Brokers (insurance, real estate, investment, etc.) who are working for an existing firm are not seen to be creating a new business,
• Businesses and platforms that raise funds for charities,
• Charities and non-profits,
• Franchises,
• Collection agencies,
• Businesses that raise investment capital for other businesses,
• Businesses that include or promote financing from equity crowd funding (share capital),
• Any businesses that produce and/or primarily retail products whose ingredients include any derivatives of marijuana/cannabis, psilocybin or any other substances included on Schedule I, II, III and/or IV of the Canadian Controlled Drugs and Substances Act (S.C. 1996, c. 19),
• Recording artists and other similar self-promoting artists and activities.