CDAP Grant For Canadian Business

  • Jun 6, 2022

Digital adoption is a method that enables individuals to grasp the potential of digital resources and use those resources to achieve their aims. Valid digital adoption requires people to fully understand how the processes, functionality, and technological changes benefit them. Undeniably, the future of business in this digital age is digital transformation – moving from analog (keeping records on paper) to digital (smart applications).

Customer relationship management (CRM) solutions enable companies to manage all their company interactions in a more detailed and organized way. Integrating CRM with marketing automation is a savvy way to meet the customer’s needs; it brings sales and marketing together more cohesively.

In Canada, the government created the Canada Digital Adoption Program (CDAP) in response to the 2021 federal budget’s goal to meet these digital changes. SMEs wanting to adopt digital transformation to survive in the current digital age can get assistance through the CDAP program. Since the start of 2021, CDAP has invested $1.4 billion over four years through two streams:

  • The Grow Your Business Online Stream: This method allows small businesses to use micro-grants to take advantage of e-commerce resources.
  • The Boost Your Business Technology Stream: Offers greater support to businesses requiring more advanced technological enhancements, such as processing and manufacturing sectors.

Grow Your Business Online

This stream of the CDAP currently supports up to 90,000 small businesses to leverage digital technology. The tourism, food and beverage industry, and start-ups were the hardest hit by the COVID-19 pandemic but are the most successful applicants. This stream also offers micro-grants to 11,000 Canadian digital advisors once they use their skills to help SMEs embrace a digital adoption plan. The Canadian government will supplement digital implementation expenses for up to $2,400 through this stream.

The Grow Your Business Online stream will support businesses willing to engage in the following activities:

  • Adopt digital technologies to improve customer service and attract new customers in the digital marketplace.
  • Take full advantage of new e-commerce resources, such as establishing a digital e-commerce plan (for example, online booking and reservation tools), SEO optimization, social media advertising, subscription-style fees, etc.

Boost Your Business Technology

This stream of the CDAP allows SMEs to apply government funding to adopt new technologies for commerce. The CDAP provides manufacturers, food processors, service providers, and other eligible participants with digital advisors who can help businesses develop a digital adoption plan in time. This stream offers grants to cover up to 90% of reasonable costs for up to $15,000 to establish a digital adoption plan for SMEs.

The Boost Your Business Technology stream will support businesses willing to implement the following:

  • Availing of the services of a digital advisor
  • Filling out a report outlining the financial costs of adopting digital adoption processes.
  • Creating a practical, well though-out adoption guideline touching on costs, timelines, resources, etc.
  • Analyzing how new or existing staff may be trained to adopt and implement the latest digital technology.
  • Utilizing digital strategies to enhance their business competitiveness and achieve their goals.

How A Digital Advisor Helps Your Business

You may already have an IT service provider and wonder what a digital advisor could bring to your business. There are numerous activities that a digital advisor does to help your business stay on top of the current technological trends. Let’s look at some examples:

  • A digital advisor is team focused and helps and trains groups of people to understand the new technological systems of the business.
  • A digital advisor looks at digital platforms to seize upcoming business opportunities to enhance sales or marketing operational results.
  • A digital advisor identifies risks in the business by managing the security of the digital changeover.
  • A digital advisor looks at digital transformation strategies and roadmap execution to support tech people in improving the organization.

Moving Forward In Business With CDAP

The services of a digital advisor are essential for any business looking to thrive in the digital market. CDAP is an excellent program, and you can work with Net Karma for your digital marketing needs. Net Karma has a great understanding of the latest trends and technologies that can enhance your organization as they are a qualified advisor of this program.

Whether you are a start-up or SME, it is worth checking if your business is eligible for a CDAP grant and the assistance of a digital advisor. The support, training, and funding that you would get from this grant would be a complete game-changer for your business.

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