Small business grants in Ontario are an important driver of economic growth. With government grants for small businesses, the province is able to ensure that local entrepreneurs have a chance to grow. The increase in commerce provides an expanded tax base. The province in general becomes stronger when small businesses have government grants as a source of support. Several effective, successful businesses have benefited from these programs.
Gymtrack is one example. An innovative virtual coaching platform for fitness clubs. By combining high technology with the nitty gritty business of physical activity, that company has harnessed the best of two worlds that often seem far apart. With the company’s novel approach, more connections are possible between all the parties involved in the workout.
So, for example, the fitness equipment communicates information to the client in a more effective way. The client wears a device that communicates with a sensor on the workout equipment. There is also an app. This access to accurate, reliable advice allows the client to get the most out of the workout. Everyone wins with this product. The client maximizes the benefits of the gym membership. Efficiency wins in terms of both money and time spent working out.
Founded in Ottawa, Gymtrack was funded with a initial grant of $30,000 which has led to great things for the company. Many other people in the wider community have benefited, too. For example, over 30 full-time jobs were created, and 50 more are projected to be created in the near future.
Government grants for small businesses are available for several reasons. Small business grants Ontario are available for training, research and development, capital investment, or business expansion and funding. Additionally, there are programs for groups who have traditionally been underserved by the banking system. For example, microloans are available to women in Ontario who are starting a small business.
Overall, these grants provided to small business owners ensure that the province has an entrepreneurial, well-trained, and well-equipped workforce. Other general information about business grants in Canada is available through the Service Canada site.
Small business grants in Ontario are an important factor in the economic growth of the province. By giving entrepreneurs access to funding, the province ensures prosperity for the future. It allows the area to compete more effectively with larger boomtowns, for example, the Bay Area in the US. Companies like Gymtrack will hopefully continue to disrupt the market in innovative ways for years to come.