Feds Launch Canada Digital Adoption Program To Help SMEs
The federal government launched the Canada Digital Adoption Program Thursday, a $4-billion package of grants and loans aimed at encouraging small and medium-sized businesses to grow and expand their online presence, as well as creating more jobs.
This was announced by Prime Minister, Justin Trudeau, along with Mary Ng, the Minister for International Trade, Export Promotion, Small Business, and Economic Development in Ottawa on Thursday.
They said that the CDAP aims at helping Canadian small- and medium-sized businesses grow their online presence and upgrade or adopt digital technologies.
The 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 be able to assess their digital readiness and apply for grants and loans online. The funding will help them 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, according to a press release.
The government says that accelerating the digital transformation will help Canadian businesses stay competitive while creating jobs and growing the economy, as we recover from the pandemic.
“Small businesses have shown incredible resilience over the last two years as they faced unprecedented challenges from the pandemic. Supporting them has been – and will continue to be – a top priority for our government. That’s why we’re launching the Canada Digital Adoption Program to empower small businesses with the digital tools they need, while helping them create good jobs, particularly for young Canadians,” said Trudeau.
“Our government is committed to ensuring that all Canadian businesses benefit from the digital economy – from main street retail shops to entrepreneurs to manufacturers. The Canada Digital Adoption Program will support as many as 160,000 small- and medium- sized businesses to adopt new technologies while creating thousands of jobs for young Canadians. I encourage small business and owners and entrepreneurs to apply for the CDAP and leverage technology to grow their business and access new customers around the world,” said Mary Ng.