About Canada Digital Adoption Program (CDAP)
The CDAP was implemented to help Canadian SMEs grow their online presence and upgrade or adopt their digital technologies. The investment will provide $4B over four years, and will support up to 160,000 small businesses.
Under the CDAP, Canadian SMEs will be able to assess their digital readiness and apply for grants and loans online. The funding will help these businesses leverage e-commerce opportunities, upgrade, or adopt digital technologies, and digitize operations to stay competitive and meet customers’ needs in the digital marketplace.
Of specific interest to the membership, the Boost Your Business Technology stream will provide eligible businesses with access to a marketplace of digital adoption experts to help them develop a digital adoption plan tailored to their needs.
Eligible businesses can leverage the grant to pay for the services of a digital advisor. These advisors will work with companies to recommend digital pathways and strategies that will help them achieve their business goals and increase their competitiveness in the digital economy.
The grant covers up to 90% of the eligible cost of retaining the services of a digital advisor, up to a maximum grant value of $15,000 per SME, to develop a digital adoption plan.
Businesses also have the opportunity to secure a 0% interest loan from the Business Development Bank of Canada (BDC) to facilitate the acquisition of new technology. In addition, applicants can leverage the help of talented post-secondary students and recent graduates through subsidized work placements.
Boost your Business Eligibility
- Before applying, the business must meet all of the following eligibility criteria:
- Be incorporated federally or provincially, or be a Canadian resident sole proprietor
- Be a for-profit, privately owned business
- Have between 1 – 499 full time equivalent employees
- Have at least $500,000 of annual revenues in one of the previous three tax years
Should you have any questions, concerns, or comments you would like to share with the CVCA about Canada Digital Adoption Program or any other issue, please contact email@example.com.