Self Employ PEI
no fixed amount
Subsidy
Description:
Self Employ PEI is an employment program developed to help Prince Edward Island job seekers who want to launch their own business. This program provides financial support and business counseling to new entrepreneurs during their first year of operation.
Comments on Funding:
Each week the applicant receives a weekly living allowance or EI benefits, or a combination of the two.
He may also be eligible for a $1,000 consulting grant.
Continuous Intake
Eligibility:
The applicant must:
1. be job seeker who wants to launch his own business,
2. be legally authorized to work in Canada (Canadian citizen or permanent resident),
3. have a current claim for Employment Insurance benefits, or
4. have a previous EI claim whose benefit period ended within the previous 60 months, or
5. be an unemployed person who paid, in at least 5 of the last 10 years, employee’s premiums that did not entitle the person for a refund (i.e. If the person made less than $2,000 in earnings in a year, any EI premiums that they would have paid, would be reimbursed),
6. not currently be operating his own business.
Application Steps:
The applicant must:
1. attend and Information Session about the program,
2. set up a time to meet with a Program Officer/Case Manager to complete a needs assessment and develop a Return to Work Action Plan,
3. submit the Self Employ PEI application with his business plan and proof of financing.
Applicants must not have started the operation of the proposed business before submitting an application for the program.
Documentation Needed:
The applicant must submit:
1. a Return-To-Work Action Plan,
2. the Self Employ Suitability Assessment questionnaire,
3. the Self Employ PEI Application for funding,
4. a detailed business plan,
5. proof of investment or financing,
6. his Resume.
About the author
Maurice