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Financial Planning For Canadian Business Owners

Canada Digital Adoption Program with Alexandra Moore | E112

Ep. 112
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Jason talks to Alexandra Moore, CEO and lead strategist at Coach House Marketing. she's also a certified digital advisor and she is here to discuss about Canada Digital Adoption program, a government program that's out there to help businesses adopt digital strategies.


Episode Highlights:

  • 02:12: Alexandra shares her journey of returning to school for a Digital Transformation Certification Program at Yale during the emergence of the Canadian government's Digital Adoption Program.
  • 05:50: Alexandra clarifies her role as a certified digital advisor for the program and notes the underutilization of grant funds, encouraging businesses to access available resources.
  • 08:55: Alexandra lists the areas covered in Stream 2, emphasizing the comprehensive digital strategy provided to businesses. She explains the digital roadmap, digital needs assessment, and actionable insights provided to businesses.
  • 10:27: Jason asks about the time commitment involved for businesses going through the program, and Alexandra discusses the flexibility in timing and structuring calls based on the entrepreneur's needs.
  • 11:46: Alexandra addresses the perception of value in the consulting work and emphasizes providing maximum value under the government grant.
  • 13:13: Alexandra advises businesses to inquire about post-CDAP services, reimbursement rates, and references when selecting a digital advisor. She talks about the importance of making services financially feasible for small and medium-sized businesses.
  • 17:26: Alexandra outlines the funding options, including 0% financing from BDC, a proposed budget, and the use subsidy wage grant for implementation support.
  • 19:38: Jason summarizes the bottom line of the Canada Digital Adoption Program (CDAP), emphasizing that it provides funding for a comprehensive report from experts and supports the implementation of the plan.
  • 20:03: Alexandra mentions that the funding covers 90% of the plan, with businesses responsible for the remaining 10%. She advises businesses to be mindful of the application process and recommends interviewing multiple digital advisors to find the best fit for their needs.


Key Points:

  1. The Canada Digital Adoption Program (CDAP) supports businesses in adopting digital strategies through government-funded grants.
  2. CDAP has two streams – Stream 1 offers the "Grow Your Business Online" grant, and Stream 2 provides a $15,000 digital strategy grant for a comprehensive overview of digital systems.
  3. Businesses should be aware of the 90/10 funding split, with the program covering 90% of the plan cost. It's crucial to interview digital advisors to find the right fit for their needs.


Tweetable Quotes:

  • "CDAP offers a $15,000 digital strategy grant, encouraging businesses to access the funds and expertise to strategically integrate digital systems." - Alexandra
  • "In the digital age, small and medium-sized businesses face opportunities and risks. CDAP's role is to bridge the gap, offering comprehensive support for digital transformation." - Alexandra
  • "CDAP isn't just about funds; it's a pathway to a digital roadmap. Small business owners get a clear plan, actionable insights, and support for implementation." - Alexandra


Resources:


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