Business Development Program (Agriculture)

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Business Development Program supports the agriculture sector by providing funding for skills training, business planning and implementation, benchmarking and risk management activities which will expand domestic and international markets for Prince Edward Island producers and small to medium sized agri-businesses.
There are three funding categories: Training, Business Planning, and Benchmarking and Risk Management.

Comments on Funding:

Funding for Training is as follows:

50% of the eligible expenses, up to $2,000 per participant per fiscal year for eligible agri-skills individualized training expenses and up to $1,000 for eligible software expenses per participant over the life of the CAP Framework Agreement (2018-2023),
90% of the eligible expenses, up to $20,000 per project for eligible group training for agricultural producers, agri-processors, and/or agri-businesses,
50% of the eligible expenses, up to $10,000 per project for eligible training for executives and up to $15,000 per project for eligible board capacity training expenses.

The maximum funding for agri-skills training is 50% of assistance per participant (maximum two per operation/organization) up to a maximum of $10,000 per farm entity over the life of the CAP Framework Agreement (2018-2023).

The maximum funding for Group Training expenses is $60,000 over the life of the CAP Framework Agreement.

Funding for Business Planning is 50% of eligible expenses, up to:

$5,000 per project for eligible financial assessment and financial action plan expenses over the life of the CAP Framework (2018-2023),
$10,000 per project for eligible succession plan expenses over the life of the CAP Framework (2018-2023),
$2,500 per project for eligible business plan expenses for beginning farmers who are part of a bonafide farm operation over the life of the CAP Framework (2018-2023),
$10,000 over the life of the CAP Framework Agreement (2018-2023) for groups of two farming entities’ eligible project expenses,
$15,000 over the life of the CAP Framework Agreement (2018-2023) for groups of three or more farming entities’ eligible project expenses.

Eligible applicants completing an on-line Self-Assessment process for the first time will be eligible for an additional 10% of funding assistance for eligible program expenses.

Funding for Benchmarking and Risk Management is as follows:

90% of the eligible expenses, up to $15,000 for first time benchmarking or risk management initiatives,
30% of the eligible expenses, up to $15,000 for approved repetitive benchmarking or risk management initiatives.

When It Ends:

Ongoing

Deadline:

2023

Eligibility:

The applicant must:

Mi’kmaq First Nations and other Indigenous Organizations,
agricultural producers,
spouses of agricultural producers,
farm employees,
agriculture industry organizations, clubs, and associations,
agri-processors,
small to medium sized agri-businesses.

Others may be considered upon request.

Application Steps:

Applicants must submit their completed applications via regular mail or email to the attention of the Business Development Program Officer.

Documentation Needed:

The applicant must submit:

the completed application form,
a project proposal (for Business Planning application the proposal must be completed by the proposed consultant which outlines what work is to be completed, the time required to complete the plan as well as the cost of the plan),
the instructor or consultant’s Resume, if applying for Training,
the proposed consultant’s resume, and documentation verifying consultant’s professional certification(s) and references, if applying for Business Planning or Benchmarking and Risk Management,

Other Things to Note:

This program is part of the Canadian Agricultural Partnership (2018-2023).

Program Contact:

Business Development Program (Agriculture)

Business Development Program Guide

Business Development Program Category: Training

Business Development Program Planning Application

Business Development Program Category: Benchmarking and Risk Management

PEI Business Registry: Plain English Guide for Prince Edward Island Entrepreneurs

Major Industries in Prince Edward Island: Overview of 8 Top Industries

Aboriginal Business Financing Program (ABFP)

Jobs and Growth Fund (JGF)