Atlantic Canada Business Grants

In-Kind Support

Future Fisher Program

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Amount:

No Fixed Amount

Type of Program:

Grant, In-Kind Support

Description:

The Future Fisher Program provides training and financial assistance to aid new entrant lobster fishers and lobster fishers working towards ownership of a lobster fleet to become better positioned for success in the PEI lobster fishery.

Comments on Funding:

Applicants who have borrowed money from a recognized financial institution to purchase fishing related assets, i.e. chartered bank, Credit Union, or PEI Lending Agency, might be eligible to receive interest relief - up to $3,000 per year for three years for a maximum contribution of $9,000.

Interest relief on loans related to acquiring a lobster license is calculated as follows:

  • Grade 12 or equivalent completed โ€“ receive 2% contribution per year on loans up to $150,000, or 
  • Grade 12 or equivalent yet to be completed โ€“ receive 1% contribution per year on loans up to $150,000. 

In addition, each applicant is eligible to receive up to $1,000 toward the costs of training initiatives. Assistance for training initiatives will be normally cost-shared between the department and the applicant on a 50- 50 basis.  

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be a resident of PEI, age 18 years or older,
  • have purchased a class โ€˜Aโ€™ lobster license, after January 1, 2009,
  • hold a Class A lobster license, or working towards ownership of one,
  • have yet to purchase a core lobster fishing license (eligible to receive funding towards training initiatives, while in the three-year program).

Application Steps:

1

The applicant must submit his completed application with all relevant documentation.

2

Following submission, the program officer will contact the applicant to discuss his application and related documents.

3

In order to receive funds from the Province of Prince Edward Island, the applicant must first register as a vendor. Once he is approved for the Future Fisher Program, he has to submit a completed the Vendor Registration Form.

Documentation Needed: 

The applicant must submit:

  • a letter from his lending institution outlining the dispersement date as well as terms and conditions of his fishery loan,
  • diploma or grade transcripts if he has Grade 12 or equivalent.
  • certificates of any courses acquired (such as Fishing Master IV OR D.V.S., ROCM, First Aid, SVOP, etc).
  • a completed Vendor Registration Form.

Other Things to Note: 

No other details available.

Program Contact:

Apply for Future Fisher Program

af_futurefisher_application.pdf

CBDC Self Employment Assistance (SEA)

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Amount:

No Fixed Amount

Type of Program:

Grant, In-Kind Support

Description:

The Self Employment Assistance (SEA) Program is designed to help participants in Atlantic Canada continue to receive their Employment Insurance benefits while going through the process of launching a new business. The program assists eligible individuals with qualified businesses concepts with planning and starting of a new business or takeover of an existing business. An income grant is provided during the first year. Business counseling is provided in both start-up and operation.

Comments on Funding:

Funding takes the form of coaching, on-going technical advice and financial support for a maximum of 52 weeks.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must be unemployed and:

  • have a current Employment Insurance Claim; or
  • have had an Employment Insurance benefit that ended within the last three years; or
  • have had established a benefit period within the past five years prior to the date of requesting assistance, were paid parental or maternity benefits, and are re-entering the labour force after having left it in order to care for a newborn or newly adopted child,
  • be individuals with qualified businesses concepts,
  • other criteria may apply.

Application Steps:

1

Applicants must contact CBDC Central for further details.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Self Employment Assistance

Innovation Ecosystem Activities

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Amount:

No Fixed Amount

Type of Program:

Grant, In-Kind Support

Description:

OSC's Innovation Ecosystem program is mobilizing the ecosystem to collaborate on ocean initiatives that transform the innovation landscape and have lasting impacts on the ocean economy.The program is designed to address shared talent challenges identified by OSC's members, attract the best entrepreneurs to the cluster, support the growth of work integrated learning environments and skill agility of the ocean workforce. OSC provides financial and in-kind support for approved projects.

Comments on Funding:

No other details available.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • The applicant must be an OSC member.

Individuals, government departments and their agencies, health care institutions/organizations, as well as professional and recreational organizations are excluded.

Application Steps:

Applicants must go through these steps: 

1

submit a proposal after OSC opens a competitive call for proposals to solve a specific challenge, 

2

OSC reviews solutions (proposals) and assesses against IE program criteria. Successful projects are selected,

3

project is contracted with delivery partners (if applicable),

4

project is announced and launched.

Documentation Needed:

no specific documentation has been identified.

Other Things to Note:

Data taken from January, 2021 Guidelines (Strategy).

Program Contact:

Innovation Ecosystem activities

Strategy Doc - Jan 2021.indd

Getting-Started_An-Introduction-to-OSC-4.20.pdf

Self-Employment Benefit – Workforce Expansion

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Amount:

No Fixed Amount

Type of Program:

Grant, In-Kind Support

Description:

The Workforce Expansion Self-Employment Benefit Program provides various types of support during the initial development phase of the business including financial assistance, coaching and ongoing technical advice to unemployed individuals to create a job for themselves by starting a new business.  

Comments on Funding:

Applicants who are receiving or are eligible to receive Employment Insurance benefits, will continue to receive these benefits until their claim ends. At that time, they will receive support at a provincially established rate for the duration of time remaining on the program.
If they are approved for the Self-Employment Benefit Program but not receiving Employment Insurance benefits, they will receive a weekly allowance at a provincially established rate.
Revenue from the business will not be deducted from your benefits while you are participating in the Self-Employment Benefit Program.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be legally entitled to work in Canada,
  • reside in New Brunswick, or be willing to establish residency in New Brunswick,
  • not be a full-time student,
  • be unemployed and EI eligible,
  • present a business plan,
  • work full-time at the business (at least 35 hours per week),
  • have decision-making control over the business operation and have 50% or more ownership,
  • agree to and have an acceptable credit review,
  • be able to provide additional capital to the business in form of cash or in-kind contributions at a minimum of 5% of total start-up costs,
  • not have started the business prior to being approved and signing a contract for the Self-Employment Benefit program,
  • not have received funding under the Self-Employment Benefit Program within the last five years.

Business started under the Self-Employment Benefit Program must:

  • be a for-profit venture,
  • operate on a full-time basis for a minimum of 44 weeks per year,
  • be established in New Brunswick and begin operation within ten weeks of signing a Self-Employment Benefit contract,
  • demonstrate viability.
  • 50/50 Partnership businesses will be considered if a formal written agreement is provided, which details the business partnersโ€™ relationships. Both partners can apply to the program.
  • Businesses with a franchise fee of $50,000 or less are eligible.

Application Steps:

1

Applicant must meet with the local Self-Employment Benefit Coordinator in his area. The Coordinator will analyze his strengths and needs, and recommend whether or not self-employment is a viable option for him.

2

Applicant must submit an application and, with the assistance of the Self-Employment Benefit Coordinator, prepare a business plan. He may be required to attend an orientation session provided in his community.

Documentation Needed: 

The applicant must submit an application and a business plan.

Other Things to Note:

The Self-Employment Benefit Program is delivered in partnership with non-profit, private and/or public organizations. Services with these organizations are purchased in accordance with the New Brunswick Public Purchasing Act, Regulation 94-157.

Program Contact:

Self-Employment Benefit - Workforce Expansion

Report Cover

CSS-FOL-61-6277-06E_GUIDE.pdf

Entrepreneurial Opportunities Program (EOP)

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Amount:

$5,000.00

Type of Program:

Grant, In-Kind Support, Loan

Description:

The Entrepreneurial Opportunities Program (EOP) provides up to $5,000 financial assistance, business plan guidance, business counselling and training to individuals in Newfoundland & Labrador who are receiving or eligible to receive Provincial Income Support. The Program assists individuals to become self-employed. 

Comments on Funding:

Funding is up to $5,000.
The financial assistance comprises of up to 52 weeks of financial support as they launch their business venture (including: continued receipt of existing Income Support from the Department of Advanced Education, Skills and Labor (AESL), receipt of an incentive allowance, and eligibility for subsidized child care costs as determined by AESL) and a $3000 repayable loan to cover necessary business start-up costs.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be an entrepreneur who is receiving or eligible to receive Provincial Income Support,
  • become self-employed,
  • reside in Newfoundland & Labrador.

Application Steps:

The applicant must:

1

receive a referral from a Client Services Officer at the Department of Advanced Education and Skills for entry into the Entrepreneurial Opportunities Program.

2

attend a private orientation session with the MBO staff once his referral is received. They will review the program eligibility requirements, the necessary steps to begin operating a small business, and the necessary forms to enroll in the program.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Entrepreneurial Opportunities Program (EOP)

Entrepreneurial Opportunities - MBO