Canada has always had great grant opportunities; however, with Covid 19, grants are getting even more lucrative. If your business is thriving or you are once again thinking about scaling up, perhaps a heavily subsidized university or college student is just the thing your business could use. As always, if you have a question or think you might want to work together, please get in touch through my Home Page. Also, never miss a blog by following me on LinkedIn or Facebook.
The Career Ready Program funded by the Government of Canada's Student Work Placement Program (SWPP) is currently funding technology, business and even arts student wages up to 75%. Under normal circumstances the program was funding limited student roles up to 50% - 70%, however, these aren't normal times. In fact, until March 31, 2021 (and probably longer, if extended), the Career Ready Program is funding a whopping 75% of student wages. That means if you pay your student $20 to $25 an hour, you can expect to be out of pocket for $6.25 an hour or less. That to me is an amazing deal worth sharing and writing about.
How Students Can Help your Business
While a student isn't as valuable as an experienced staff member, the cost to benefit ratio is certainly in your favour. A student can help bring fresh ideas to your business and they likely know their way around technology better than most. Here are some examples of what a student could help you with:
A technology or engineering student could take on a fresh easier project or help your development team with a specific project that they are already working on.
A business student could help with marketing / social media, business development, sales, accounting, finance, spreadsheets and even communications.
A full list of eligible roles is here.
Important Considerations for the Program
Work placements are in three terms. Summer, Fall and Winter, the Winter term is coming up so check out the program today!
You can get a maximum wage subsidy per student of $7,500.
If you are getting the Canada Emergency Wage Subsidy (CEWS), you can't double dip to get funding beyond a total of 75%. If you aren't getting the CEWS or you are getting a pretty low percentage, this program is perfect for you.
You can hire more than 1 student, but you also need to provide them a little bit of mentorship during their stay with you. This is really important so be prepared for that.
Any business is eligible (tech and non-tech focused) but you need to ensure students get to use technology in some way as part of their duties.
You can be pre-approved for a grant. This is great so you know that funding is there when you find your student.
While the above information is general in nature, I urge you to carefully read all the details on the Career Ready Program website here.