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Entrepreneurial Opportunities Program (EOP)

by Maurice | February 5, 2023

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

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How to Start a Business in Newfoundland and Labrador: Step-by-Step Guide for New Entrepreneurs
Best Business to Start in Newfoundland & Labrador: Growth Industries + Top Business Ideas
Businesses for Sale in Newfoundland & Labrador: Best Places to Buy + Mistakes to Avoid
How to Incorporate a Business in Newfoundland & Labrador: Step-by-Step Guide for New Entrepreneu...

About 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.

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