Hear all about it!
The federal government will pay for your small business to get a new digital strategy, provide you with a loan with 0% interest, and help you hire a Gen Z or Millennial to up your digital presence.
You want in on this program.
This is the key message that Nick Corneil will share on Friday, September 29th at 1:30 pm EST during Fitness Industry Council of Canada’s Extraordinary Webinar “All about CDAP” What you need to know about Canada’s Digital Adoption Program.
“This is such a great program, because most small and medium enterprises need to update and evolve their digital strategy and online presence, and do not have the funds or time to hire help,” says Corneil. “Our industry is still recovering from the pandemic, and one thing many fitness businesses learned from being shut down was that they need to adapt new technologies and have better online tools. CDAP gives businesses the funds to hire a qualified consultant to write the plan, and then a loan on amazing terms, along with a wage subsidy to hire a qualified young person (under 30) to help with implementation.”
Corneil grew up in the fitness industry, has worked at all levels of it, built software for gyms and trainers and understands many of the intricate details that a fitness company needs in a digital plan. He and his business partners have already created many successful digital strategies that gyms are already putting into place.
CDAP began in March 2022 with an initial $1.4 billion earmarked for grants and a further $2.6 billion for loans. The program is administered through Innovation, Science and Economic Development Canada (ISED-ISDE), a government initiative that works with Canadians in all parts of the country to improve conditions for investment and enhance innovation in Canadian businesses, to increase their ability to compete on the global stage. “There are two CDAP programs – ‘Grow Your Business Online‘ and ‘Boost Your Business Technology‘,” explains Corneil. “The former is a $2400 grant to help with online solutions (e-commerce, website, social media, etc), and the latter is a $15,000 grant for formulation of a digital plan, which can then lead to either a $50k or $100k loan from the BDC with 0% interest, and a $7300 wage subsidy to hire an under 30.” As awareness of the programs and volume of applications increases, businesses are encouraged to start the application process soon to ensure access to the available funding.
Fitness Industry Council of Canada, the voice of the Canadian fitness industry, provides webinars and workshops to support Canadian fitness businesses. Gabriel Hardy, Executive Director of FIC, and the owner of Tonic CrossFit in Quebec City, says that many FIC members have already applied for the CDAP program and believes that those who are unaware of the next steps to take need to take part in the free webinar on Friday.
“Fitness business owners are busy running their day-to-day operations, dealing with suppliers, creating programming, and handling marketing, sales and much more. They are also under financial stress – we know from our survey that the majority of our facilities have fewer members now than before, and many will not be able to repay the CEBA loan. A program like CDAP is necessary, and welcomed by small and medium businesses, and I am excited to learn more about it,” says Hardy.
Business owners will learn Friday about the details of the program, how and if they can access it, what the application process is like, and any questions they have about it, says Corneil. A representative from ISED-ISDE Canada who can provide further details and context about the program will also join the session.
Fitness Industry Council of Canada (FIC) is the not-for profit trade association that represents the voice of fitness facility operators across Canada. Representing more than 6,000 facilities with more than six-million members nationwide, FIC pursues a legislative agenda in the hope of bettering the fitness industry for both consumers and operators. FIC aims to work with both industry and government to improve the health and physical activity levels of Canadians.