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Earning income while getting EI benefits
Earning income while getting EI benefits
If you are self-employed all the hours you work and the total amount before deductions you earn from self-employment or other employment must always be declared while you are claiming EI.
If you are receiving regular, parental or compassionate care benefits, you can earn up to 25% of your weekly benefit or $50, whichever is higher, without changing the amount you will receive from EI for that week. On the other hand, any earnings you make while collecting maternity or sickness benefits will be deducted dollar for dollar from your benefits. In both situations, all your earnings must be declared.
Government Grants & Loans: Frequently Asked Questions
We welcome your questions and comments. Browse the FAQ section below where we answer questions many entrepreneurs like you have put to us over the years. Then drop us a line toll free at 1-800-658-9792. It's your comments that drive our research team to develop new resources for Canadian businesses like yours!
Where can I find grant information? You can find grant information by contacting each individual government department (there are over 400) and asking them to provide you with detailed information on the many funding opportunities they offer to small businesses. Of course this can be time consuming with phone calls and letters going back and forth. Alternatively, visit our program types and case studies pages or just phone toll-free 1-800-658-9792 to speak with one of our grants and loans representatives.
How do I apply for a grant? Every grant and loan program has a specific application process. These processes, as outlined in government publications, are often complicated and difficult to understand. However, Small Business Funding Centre representatives are here to help you decipher these processes and provide the details in an easy to understand format. To find out which grants and loans you are eligible for and the application process, please contact us at 1-800-658-9792.
What resources are available for entrepreneurs like me? Here are hundreds of Federal and provincial government resources available if you know where to look. There are grants & subsidies (one-time & renewable), low-interest or no-interest loans for worthwhile business purposes, various tax refunds or tax credits programs and initiatives, government insurance against business risks, relocation grants, government purchases of your product or service, conditionally repayable contributions, grants in-lieu of property taxes, equity financing programs, and many other worthwhile resources most Canadians know little about. We currently offer full information on all government funding sources and can give you quick and easy access to what is available today for your small business. Important funding information such as:
Government funding program titles
Government funding program qualifications
Government funding program benefits
Detailed contact information with up to date phone, fax, email and website address
Exclusive interviews with program directors who read and approve applications and their likes and dislikes
Exclusive interviews with actual funding recipients, including details of what works and why
Sample grant applications
Access to our proprietary database of over 80,000 funding recipients which grows daily
How can I reach the SBFC? Phone toll free at 1-800-658-9792, e-mail us or send a letter to: Small Business Funding Centre 1500 Bank St., Room 425, Ottawa Canada K1H 1B8.
Will my area and business type be covered by government funding? The SBFC has research staff with expertise in the government funding opportunities of every province and region of Canada. Our databases are arranged to be easily referenced both by area and business type. If any government office offers funding for your type of venture, we have it listed and referenced so you can access it easily.
If I have a business partner or a wife/husband, do we need to apply together? Yes, if you are business partners. However, this should not hinder your acceptance into a program. Your first step is to look at the available programs and determine your eligibility. If you are not business partners, you can always apply on your own if you qualify according to the programs criteria.
What exactly is a grant? A grant is a sum of money conditionally given to your business which you do not have to repay. The grant can be used to purchase equipment, advertising or conduct a marketing/feasibility study among many other uses. A grant can also be any service provided at no charge by the government for which you would ordinarily have to pay. This could be free consulting or educational programs. Tax credits that reduce your commercial tax bill are a form of grants as well.
What exactly is a loan? A loan from the government must be repaid but with either low or no-interest. In some cases you are given a longer term in which to repay the loan. The loan could also be obtained through a chartered bank but guaranteed against default by the government.
What exactly is a tax refund or tax credit? Tax refunds and tax credits provide funding for your business start-up and expansion by deducting certain expenditures from the annual tax bill of your business. Your business may apply for tax refunds of past expenditures or receive tax credits on future projects. These tax breaks provide a financial break which can free up your business' cash flow allowing further development and security.
What exactly is government insurance against business risk? Government insurance will help your business pay back all or a portion of a bank loan in the event that the business or specific project fails. The insurance is often available for low premiums or no premiums to your business. Providing a guarantee of loan repayment to the bank, your business may have less trouble applying for bank loans.
What exactly is guaranteed government purchases of your product or service? A guarantee for government purchases makes the government a consumer of your products or services. Such a program insures that your product or service will have a client base. The program helps your business to gain a foothold in the consumer market by increasing consumer confidence in your business or products.
What exactly do government information and services programs do for my business? The government provides services such as training programs, consulting and information services for small businesses like yours at little or no cost. Such services help your business develop, grow and expand. These are very worthwhile programs and are generally offered to any one who is registering a business. They are especially useful to start-up ventures.
What exactly is a conditionally repayable contribution? Conditionally repayable contributions are government investments in business projects, which do not have to be repaid if your project fails. Much like a venture capitalist investing in your company but only asking for return on investment if your project is successful and profitable. Such programs offer you a risk free approach to business start up and expansion.
What exactly are grants in-lieu of property taxes? Property tax breaks offer tax deductions for your small business on land and property purchases. Such grants can save your business money that may go to the development of the newly purchased property.
What exactly is equity financing? An equity financing program is a government investment in your business. Unlike banks and investors the government is less anxious about the returns on their investments so your business is under less pressure to deliver profits.
What exactly are relocation grants? A relocation grants is a fund used specifically for financing the relocation of your business to another geographical area.
What exactly is an access to resources program? These government programs provide access to facilities, equipment, resources and trained staff for your business. These services are often beyond the capabilities of most small businesses to acquire. These services are provided directly from the government or financing is given to hire private resources.
Am I guaranteed to receive funding? No one can be guaranteed funding without first going through the simple process of applying. Every year, billions of tax dollars are distributed by both the federal and provincial governments but only to those who apply. Our knowledge and expertise is a valuable resource for finding out where, how and to whom to apply to.
Are government monies available for my specific industry? Yes, some programs are indeed industry specific. There are programs for tourist related businesses, export promotion, manufacturing, fishing or agriculture, book and magazine publishing, arts and culture etc. However, many programs are for everyone and apply to any and all business types.
I've heard that the government no longer gives out grants to small businesses, is this true? It's just not true. While some programs have been cut, other programs have been added and many programs run perpetually. There are currently hundreds of funding programs available right now in Canada to new and exisiting small business owners. If provincial programs are few in your area there are many federal programs that you can and should apply to.
How big a company do I have to have to receive financial assistance? There is no size restriction. You could have one employee, a hundred or more. It makes no difference. There is usually a program that everyone can apply to.
How soon would I be able to get the assistance? It can be very fast. You could receive assistance as soon as a couple of weeks or as long as a year after you apply. It all depends on the program you apply to. Of course, the sooner you apply, the sooner you could be accepted into a program. Some programs have application deadlines which must be respected. So, start applying as soon as you are able.
Can I apply to more than one program? Absolutely. In fact, as long as you qualify, we encourage you to apply to as many as you can. This improves your chances of being accepted into at least one program. Many businesses apply to several programs knowing that one department may turn them down but another may accept their application.
What is the Small Business Funding Centre? The SBFC is the largest research centre of its kind in Canada. Established in 1992 by concerned citizens who know it is a tax-paying business's right to have access to government funding. The Small Business Funding Centre is an independent research organization not affiliated with any government agency. We have closely tracked hundreds of government programs available to Canadian entrepreneurs in all ten provinces. To date we have shown tens of thousands of qualified Canadians how to easily get grants and loans for their businesses.
If I apply, will the government want to look at my books or will I be audited? No, but you must use the funds for what you said you will use them for. Keep all receipts to support proof of any purchases made with the funds because the government program may ask to see copies.
Why all of a sudden does the government decide to give money away? This is a common misconception. The government has always been helping small businesses but hasn't always publicized this fact. The government does want small businesses to grow and hire people and realizes that small businesses are the backbone of our economy. To this end, billions of dollars are spent each year to lend support to business-people like yourself in the form of grants, loans and many other types of assistance. In many cases governments seek economic improvement in response to either lobby group pressure or to improve their chances of re-election.
Couldn't I find out about the programs on my own or just hire a consultant to guide me through the process of applying? We have found that most business-people simply do not have the time or resources required to undertake a thorough search of all possible sources of funding. Apart from this center, we know of no other one stop source to access all federal and provincial assistance programs together. There are many competent financial consultants who could help you to get access to the programs but be prepared to spend upwards of thousands of dollars in fees with no guarantee of success.
Still have a question? Please phone us toll free at 1-800-658-9792 or contact us, we'll reply to your inquiry within 24 business hours!
You can call us directly at 1-800-658-9792, or e-mail us for information on Canadian government grants and loans for your new or existing small business.
You can also write us at: Small Business Funding Centre, 1500 Bank Street, Room 425, Ottawa, Ontario, Canada, K1H 1B8. |
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发表于 2006-9-24 22:10:15
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