- Recipient: Crypto4A Technologies Inc., Fero International Inc., Horizon Aircraft and Snyder's Family Farm
- Region: Southern Ontario
"FedDev Ontario support has had an enormous impact on our small business. As a rural destination, our family has been focused on growth for nearly two decades. This investment allows for improvements that a destination of our size needs to continue attracting visitors from all over Ontario."
In Canada, small businesses are a BIG deal!
In fact, small businesses provide the foundation for the Canadian economy—creating jobs, invigorating communities and bringing new ideas, services and products to the marketplace. Small- and medium-sized enterprises (SMEs) across the country employ 63.8% of Canada's private sector workforce and account for 48% of our GDP. Ontario is home to 37% of the nation's SMEs, featuring businesses that range from retail trade to construction, and health care to technical services.
Each October, the Business Development Bank of Canada (BDC) invites us to celebrate Canadian entrepreneurship during Small Business WeekTM (October 20-26, 2024). BDC organizes conferences and panel discussions, and provides networking opportunities to bolster success through idea sharing and making connections.
At FedDev Ontario, we make it our business every day to support the efforts of SMEs in southern Ontario by providing both national and regionally-tailored programs and services and by investing in businesses—and people—with potential. Canada is a nation of innovators who, with the right supports, are well positioned to translate ideas into exciting new products and services and accelerate business growth from the start-up phase to international success.
Since 2015, FedDev Ontario has invested over $2.8 billion across all programs in over 3,500 projects across southern Ontario, leveraging an additional $4.4+ billion in investment in the economy and supporting over 250,000 jobs.
This includes $1.2 billion directly invested in over 1,950 companies and indirect support for thousands of additional businesses benefitting from $1.6 billion invested in over 1,550 not-for-profit organizations.
FedDev Ontario's programming serves a wide-range of businesses and organizations across southern Ontario, showcasing the breadth of business types that are responding to evolving market needs. Recipients of support include small shops and restaurants, rural manufacturers, and entrepreneurs in agri-food, health sciences and high-tech sectors.
An established cybersecurity company is receiving FedDev Ontario funding to contribute to Canada's global leadership in quantum-ready technologies. Crypto4A Technologies Inc. is now better positioned to help companies—big and small—as well as government agencies safeguard their digital assets in a world with ever-evolving threats. Crypot4A manufactures its quantum-ready hardware security solution at its plant in Ottawa. Our investment will support the company's continued ability to address fundamental security challenges while adding jobs to its workforce.
"We are extremely grateful to the Government of Canada for both investing in Fero and believing in a new Canadian innovator. The investment is giving Fero the ability to scale its business and operate in the largest modular manufacturing plant in Canada, where it develops cutting-edge modular infrastructure solutions."
Fero International is a growing Hamilton-based SME that builds modular structures for use in healthcare, education, commercial and housing markets, providing state-of-the-art and sustainable infrastructure where needed—quickly and affordably. Fero's expertise in modular and prefab construction caught FedDev Ontario's attention. Our investment is helping the company scale its business, add jobs and increase its manufacturing capacity for building units that will serve the infrastructure needs of the healthcare and life-sciences sector. Fero's creative "in the box" approach is effectively addressing growing challenges in the construction industry and healthcare sector.
Southern Ontario's rural-based businesses are served by the Community Futures Program (CFP). Through CFP, FedDev Ontario provides funding for 36 Community Futures Development Corporations (CFDCs) that offer targeted support to drive economic development and growth. Direct-to-business supports include free business counselling, specialized programs and loans. CFDCs know their communities well, and have been helping SMEs reach their potential since 1985.
In Bright, Ontario, the owners of Snyder's Family Farm LTD. received support through Community Futures Oxford to build a 2,500-square-foot gift emporium, providing opportunity to feature local artisan products. Owners Meghan and John Snyder turned their small family farm into a popular agriculture tourist destination, providing an array of outdoor attractions and activities, a bakery, a gift shop and more. The farm is open year-round and continues to expand its offerings, drawing visitors from near and far.
FedDev Ontario allocates funding for not-for-profit and community development organizations that provide support and services to companies to help them reach their potential and unlock new possibilities. Downsview Aerospace Innovation & Research (DAIR) is a world-leading not-for-profit innovation hub that supports southern Ontario's aerospace industry. Funding from FedDev Ontario for DAIR is helping Horizon Aircraft, in Lindsay, transform the future of flight. Horizon is developing an advanced hybrid electric power system for its vertical take-off and landing (VTOL) prototype aircraft, which will support self-charging capabilities, faster and farther flights and a significant reduction in emissions.
FedDev Ontario also offers Small Business Services (SBS) to help Ontario small business owners navigate available government business information and services. Throughout the year, and particularly in October, SBS works with community partners to engage and inspire entrepreneurs with various events, tradeshows and networking opportunities.
Supporting southern Ontario SMEs leads to significant contributions towards the Canadian economy. FedDev Ontario will continue to make strategic investments in southern Ontario to create jobs and a robust entrepreneurial ecosystem.