6 Reasons Your Business Should Apply For CDAP

The Benefits of Implementing a Digital Adoption Plan

With so much economic uncertainty and a potential global recession looming, it’s more important than ever for businesses to move online and implement digital solutions to reach a wider range of customers.

For brick-and-mortar businesses with little experience with eCommerce and digital solutions, developing an online presence can be challenging without the right help.

This is where the Canadian Digital Adoption Program (CDAP) comes in. Keep reading to learn more about the CDAP Program and why you should apply right away.

What is CDAP?

The Canadian Digital Adoption Program (CDAP) is a federal government grant program. It provides small to medium-sized businesses with funding so they can adopt new digital technologies with the help of a Digital Adoption Advisor to create and implement a Digital Adoption Plan.

The main goals of CDAP are to help businesses:

• Lower their overhead costs
• Accelerate transactionsb
• Respond to clients more quickly and efficiently
• Improve the efficiency of inventory management
• Enhance supply chain logistics

There are two different CDAP streams that you can apply for:

• The Grow Business Online Stream: This stream provides businesses with micro-grants of up to $2,400 to help grow their eCommerce sales and adopt digital technologies.
• The Boost Your Business Technology: This stream provides businesses 90% of the cost (up to a maximum of $15,000) to cover the cost of retaining the services of a digital advisor to create a digital adoption plan. 

Who is Eligible For The Boost Your Business Technology Grant:

To be considered for the up to $15,000 CDAP grant, your business must meet the following criteria:

• is Canadian owned
• Is for-profit
• is a sole proprietorship or incorporated
• Has between 1-499 employees
• Has at least $500,000. in sales in 1 of the last 3 years reported to CRA

Who is Ineligible

Businesses that meet the following criteria are ineligible for CDAP funding:

• Corporate chains and franchises
• Registered charities and not-for-profit organizations
• Representatives of multi-level marketing companies
• Real estate agents and brokerages 

Reasons You Need to implement a Digital Adoption Plan

There are many reasons why all businesses need a Digital Adoption Plan in place. Some of the most significant benefits include:

Easily Pivot to eCommerce

When the COVID-19 pandemic hit in 2020, businesses with storefronts were forced to close their doors and focus on eCommerce sales. Two and a half years later and we are still feeling this shift toward eCommerce as we roll through 2023.

Here are a few statistics to show just how powerful the eCommerce marketplace is:

• $5.55 trillion in eCommerce sales were made in 2022
• eCommerce sales accounted for 21% of all worldwide retail sales in 2022
• 58.4% of internet users shop online every week

Boost Sales

There is a direct link between digital adoption and increased sales and profits. In fact, according to a recent BDC study, ​​businesses that are considered to be “digitally mature” report higher sales growth and profit growth.

Wider Range of Customers

With a storefront, you are limited to customers who can access your store locally. With an online store or another type of business, you’re able to reach thousands, if not millions, of people through the power of digital marketing.

Lower Operating Costs With An Online Presence

The cost of operating an eCommerce business is significantly lower than that of a brick-and-mortar business. 

Between the cost of your commercial lease, utilities, and the salaries of your employees, operating a storefront can be incredibly expensive. By focusing on eCommerce sales, you can significantly reduce your operating costs and earn more profit.

Better Customer Experience 

Online stores are great for the overall customer experience. For instance, with eCommerce platforms, customers can shop from the comfort of their homes 24/7. Plus, with tools like online chatbots, customers can get help with their inquiries without having to call a customer service number and potentially wait hours on hold. Another advantage is the ability to use customer data to create a personalized shopping experience.

Powerful Digital Marketing Tools Become Available

When you shift more online and utilize digital tools discovered through a digital adoption plan, you gain access to numerous digital marketing tools that can reach new customers and optimize your business operations. 

Some examples include:

• Google Ads
• Search Engine Optimization (SEO)
• Tracking tools
• Email marketing
• UX optimization
• And more

How to Apply for CDAP

Make Sure You Meet All Program Requirements

Before you submit an application for the CDAP, it is vital that you research the eligibility criteria to confirm that you are, in fact, eligible for CDAP funding. The CDAP Assessment Tool can help with this.

Submit Application

The actual submission process is different for each CDAP stream.

For the Grow Your Business stream, you will need to connect with your local service provider in the province or region where your business operates to help with the application process. 

To apply for the Boost Your Business Technology Grant, you will need to sign in to the Government of Canada website with a GCKey or through a Sign-In Partner on the website.

Your Application is Reviewed

Once your application has been submitted, it will be screened to ensure it has been completed properly and has met all of the required criteria.

If your application is deemed incomplete or does not meet the eligibility criteria, you will be notified in writing. If your application has been completed properly and meets all of the eligibility criteria, it will then be evaluated more seriously using defined assessment criteria. 

If your application is successful, you will be notified in writing. 

Start Working With a CDAP Advisor

If you have been approved for CDAP funding, the next step is to begin working with a CDAP advisor who will help you develop and implement your digital adoption plan. 

Consultus Digital has been chosen by the federal government to act as a designated CDAP digital advisor and can help your business develop a roadmap for digital transformation. Our goal is to help transform and grow your business so you can thrive moving forward. 

Contact us, the experts at Consultus Digital, today!