🏠 | New Brunswick | Self-Employment Benefit – Workforce Expansion

Self-Employment Benefit – Workforce Expansion

Amount:

no fixed amount

Type:

New Brunswick

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.

Deadline:

Continuous Intake

Eligibility:

The applicant must:
1. be legally entitled to work in Canada,
2. reside in New Brunswick, or be willing to establish residency in New Brunswick,
3. not be a full-time student,
4. be unemployed and EI eligible,
5. present a business plan,
6. work full-time at the business (at least 35 hours per week),
7. have decision-making control over the business operation and have 50% or more ownership,
8. agree to and have an acceptable credit review,
9. 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,
10. not have started the business prior to being approved and signing a contract for the Self-Employment Benefit program,
11. not have received funding under the Self-Employment Benefit Program within the last five years.

Business started under the Self-Employment Benefit Program must:
1. be a for-profit venture,
2. operate on a full-time basis for a minimum of 44 weeks per year,
3. be established in New Brunswick and begin operation within ten weeks of signing a Self-Employment Benefit contract,
4. demonstrate viability.

5. 50/50 Partnership businesses will be considered if a formal written agreement is provided, which details the business partners’ relationships. Both partners can apply to the program.
6. Businesses with a franchise fee of $50,000 or less are eligible.

Application Steps:

The applicant must:
1. 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. 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.

Maurice

About the author

Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.