Canada Digital Adoption Program with Alexandra Moore | E112
Government support for digital transformation.
In today’s episode of Financial Planning for Canadian Business Owners we have 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:
01:05: Alexandra introduces herself and discusses her role as the owner of Coach House Marketing, her transition during the start of COVID, and her passion for small and medium-sized businesses in Canada.
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.
03:44: Alexandra emphasizes the CDAP's significance for businesses in the post-COVID digital landscape and the challenges they face in integrating digital strategies strategically.
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.
06:07: Jason discusses funding like additional benefits, including access to DC loans and wage grants between the different programs and the intended purpose of providing a path forward with cost-benefit analysis. He also inquiries about "Grow Your Business Online" grant and Stream 2.
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.
14:49: Alexandra shares a client's confidence in choosing her as a CDAP advisor, expressing gratitude for the opportunities to work on challenging projects.
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:
The Canada Digital Adoption Program (CDAP) supports businesses in adopting digital strategies through government-funded grants.
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.
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 Moore
"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 Moore
"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 Moore
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