Accelerating digital growth for entrepreneurs
MONTREAL, March 3, 2022 – There has never been a better time to talk about the importance of digital adoption. The pandemic showed that digital technologies can help Canadian business stay afloat and – most importantly – it showed that businesses need to accelerate their digital transformation.
That is why we are pleased to support today’s launch of the Canada Digital Adoption Program (CDAP).
As part of the Boost Your Business Technology stream, BDC will be one of the marketplace suppliers to offer advisory services to help businesses develop a digital adoption plan. BDC will also offer no-interest loans of up to $100,000 to help businesses implement their plans to adopt more complex technologies. These loans can help SMEs finance the purchase of technology to improve productivity or better serve customers.
Benefits of digital adoption are clear
Companies that have automated certain areas of the business are 2.0 times more likely to find hiring easy and 1.9 times more likely to see sales growth above the industry average, compared to companies that have not automated. And yet, only one in four Canadian SMEs have fully automated one or more functions of their business. (BDC Study, 2021)
Canada’s businesses need more tools, more resources and more opportunities to go digital. CDAP can help. This is an investment that has the potential to help businesses fast-forward their recovery and increase their competitiveness.
Visit Innovation, Science and Economic Development Canada’s (ISED) website to get all the details about CDAP, find out whether you are eligible, and start an application.