Atlantic Canada Business Grants

Business Development

Aboriginal Business Financing Program (ABFP)

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Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Aboriginal Business Financing Program (ABFP), administered by Ulnooweg, offers non-repayable business contributions to individual Aboriginal entrepreneurs and community owned businesses. Some of the eligible expenses for ABDP support are: business planning, establishment and operating costs, business acquisitions and expansions, local, domestic or export oriented marketing initiatives, new product or process development, adding technology to improve operations and competitiveness, financial services, business support, business-related training and mentoring services. 

Comments on Funding:

Funding is a non-repayable business contribution as following:

  1. 1
    up to 75% for development of business plans, marketing plans, feasibility studies,
  2. 2
    up to 40% for establishment, expansion or acquisition,
  3. 3
    up to 60% for marketing initiatives,
  4. 4
    up to 90% for business support and project related management.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicants must be:

  • entrepreneurs of Canadian Aboriginal status or non-status, Metis or Inuit Heritage (on or off reserve, living and operating their businesses within the Atlantic provinces,
  • community owned businesses,
  • Aboriginal financial organizations,
  • development corporations.

Application Steps:

1

Applicants must contact Ulnooweg for further details by submitting the Client Inquiry Form.

Documentation Needed:

No specific documentation has been identified

Other Things to Note:

The majority of ABFP funding goes towards small and medium-sized businesses.

Program Contact:

Aboriginal Business Financing Program - Ulnooweg

Additional Resources:

As an Indigenous entrepreneur, you have access to a range of resources to help you succeed. Here are some additional resources that can help you grow your business and take it to the next level.

Business Development Support

The Nishnawbe Aski Development Fund (NADF) provides a range of business development support services to Aboriginal entrepreneurs. These services include business planning, financial management, marketing, and more. NADF also offers a range of financing options, including the Aboriginal Business Financing Program (ABFP). For more information, visit the NADF website.

Networking Opportunities

Networking is an important part of building a successful business. The National Aboriginal Capital Corporations Association (NACCA) provides networking opportunities for Aboriginal entrepreneurs through its Aboriginal Entrepreneurship Program (AEP). The AEP offers a range of services, including business planning, financing, and more. For more information, visit the NACCA website.

Farm Land Identification Program (FLIP)

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Amount:

No Fixed Amount

Type of Program:

Tax Defferal

Description:

The Farm Land Identification Program provides for the deferral of provincial property taxes on eligible farmland and outbuildings to encourage the preservation of real property for agricultural use. It is open to all owners of real property. 

Benefits of the FLIP Program:

Tax Deferral: The FLIP program allows eligible farmland and outbuildings to defer provincial property taxes, which can help reduce the financial burden on farmers and landowners. This can be especially helpful during times when the agricultural industry is facing challenges.

Preservation of Farmland: By participating in the FLIP program, landowners are committing to preserving their land for agricultural use. This helps to protect farmland from being converted to non-agricultural uses, which can threaten the sustainability of the agricultural industry.

Access to Funding: Some funding programs require that land be registered under the FLIP program to be eligible for funding. By participating in the program, landowners can access these funding opportunities and receive financial support for their agricultural activities.

Recognition: Registered FLIP properties are recognized as agricultural properties, which can help to increase the visibility and recognition of the agricultural industry in New Brunswick.

Comments on Funding:

The program provides for the deferral of applicable provincial real property tax on the assessed value of registered farmland and farm outbuildings. The portion of the local or municipal tax rate that is above the average LSD rate for the province is also deferred.

When a property registered in the Farm Land Identification Program is deregistered or withdrawn from the program by the assessed owner, the deferred taxes to a maximum of 15 previous years together with associated interest becomes due and payable.

The total amount of interest added to the deferred taxes payable upon deregistration or withdrawal on or after September 1, 2007 from the Farm Land Identification Program is limited to a maximum of 50% of the total taxes deferred.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

  • Applicants must be farmland and outbuilding New Brunswick owners.
  • Land must be registered in the Registry of Agricultural Land under the Agricultural Land Protection and Development Act.
  • Farm outbuildings must be located on land registered in the Registry of Agricultural Land under the Agricultural Land Protection and Development Act.
  • The property (land and farm outbuildings where applicable) must be in use by an agricultural operation, or the owner must be willing to make the property available for use by rent or lease, given a reasonable offer, and must allow such property to be advertised as being available for rent or lease, to be eligible for registration in FLIP.
  • The land does not have a subdivision plan registered in the Provincial Land Registry which will result in the removal of the property from agricultural use.

Application Steps:

1

Applicants must submit an application to be considered for registration. Registration is a long term commitment to maintain land in agricultural use. There may be substantial financial costs to exiting the program.


Applications for registration of agricultural land in both the Registry of Agricultural Land and the Farm Land Identification Program should be made together, on the form provided.


Application forms are available from any office of the New Brunswick Department of Agriculture, Aquaculture and Fisheries or online.


Applications must be signed by the registered owner(s) of the property.

Program Contact:

Farm Land Identification Program

Application Form

Atlantic Innovation Fund (AIF)

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Amount:

$3,000,000.00

Type of Program:

Grants & Loan

Description:

The Atlantic Innovation Fund (AIF) is helping Atlantic Canada compete at home and abroad by supporting the development of innovative products and services that lead to commercial success. AIF helps researchers and innovative businesses team up to develop new products and services and put them on the market.  

Comments on Funding:

Funding is up to 80% of total eligible costs for projects led by not-for-profit organizations. Contributions to not-for-profit organizations are non-repayable

Funding is up to 75% of total eligible costs for private-sector-led projects. Contributions to the private sector are conditionally repayable based on the commercial success of a project.

It should be noted that the AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Eligible costs could include wages, salaries, capital costs and other operating expenses directly related to the project. The AIF assistance for eligible building and major renovation costs would not normally exceed 30% of the costs.

Funding for innovation project ranges from $500,000 to $3 million. Innovation projects of less than $500,000 may be eligible under ACOA’s Business Development Program.

Types of Projects Eligible for Atlantic Innovation Fund:

The AIF provides funding for a wide range of projects that support innovation and economic growth in Atlantic Canada. Eligible projects may include:

  • Research and development of new products, services, and technologies
  • Commercialization of innovative products, services, and technologies
  • Development of new or improved processes, systems, and technologies
  • Creation of research and commercialization partnerships among businesses, universities, and research institutions

Evaluation Criteria for Atlantic Innovation Fund:

The AIF evaluates applications based on several criteria. According to the Atlantic Canada Opportunities Agency (ACOA), projects must meet the following essential criteria to be considered for funding:

- Be compatible with AIF objectives
- Be scientifically and/or technically sound
- Demonstrate management capability to successfully undertake the project
- Demonstrate significant economic benefits for Atlantic Canada

In addition to the essential criteria, the AIF also considers the following desirable criteria:

- Includes private sector participation (for institutional proposals)
- Fills a gap in the Atlantic system of innovation
- Improves innovation capacity of the private sector
- Is pan-Atlantic in scope

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

Applicant must be:

  • private-sector businesses, 
  • universities, colleges, 
  • non-government research institutions,
  • provincial Crown corporations operating in Atlantic Canada. 

Application Steps:

1

Applicant must complete a Project Concept Template and submit it to the ACOA office nearest to them. ACOA will contact them to confirm receipt and to discuss their project.

2

Applicant must complete and submit the Application for Financial Assistance form, once they have discussed their project with ACOA.

Documentation Needed: 

For-profit applicants must submit a completed application form and the following supporting documents:

  1. 1
    incorporation documents and information on ownership names and percentage of ownership
  2. 2
    fully repayable contributions up to $500,000 for up to 75% of eligible costs
  3. 3
    R&D project plan, business plan and/or marketing plan,
  4. 4
    supplier quotes,
  5. 5
    copies of relevant permits and licenses,
  6. 6
    other relevant documents (specify).

Not-for-profit applicants and other applicants must submit a completed application form and the following supporting documents:

  1. 1
    constituting/ incorporating documents and list of directors/members of the board,
  2. 2
    financial statements (current and last fiscal year),
  3. 3
    description and mandate of the applicant, including the management and qualifications of key personnel,
  4. 4
    HST rebate information (I.E. rebate rate),
  5. 5
    one of the following two items is required: (R&D) project plan or detailed project description, including milestones, costs, financing, key partnerships, established evidence of support from the community,
  6. 6
    supplier quotes,
  7. 7
    copies of relevant permits and licenses,
  8. 8
    other relevant documents (specify).

Other Things to Note:

Date modified: 2022-08-16

Program Contact:

Atlantic Innovation Fund

Application for financial assistance

Atlantic Innovation Fund: Frequently Asked Questions

APPLICATION FOR FINANCIAL ASSISTANCE

Nova Scotia Capital Investment Tax Credit (CITC)

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Amount:

$ 30,000,000.00

Type of Program:

Tax Credit

Description:

The Nova Scotia Capital Investment Tax Credit (CITC) is a 15% refundable corporate income tax credit claimed by eligible corporations for capital equipment acquired for use in Nova Scotia on or after January 1, 2015. The capital equipment must be acquired as part of an "approved project".

The CITC is aligned, but not harmonized with, the federal government’s Atlantic Investment Tax Credit (AITC). 

Comments on Funding:

Funding is 15% of the capital cost of "qualified property" acquired in a taxation year, with a maximum tax credit of $30 million per "approved project."

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

  • be a taxable Canadian corporation,
  • have a permanent establishment in Nova Scotia,
  • with certain exceptions, be corporations in the manufacturing, processing, fishing, farming, logging, storing grain and harvesting peat sectors,
  • have acquired capital equipment as part of an "approved project".

Application Steps:

1

Applicant must submit a mandatory Part A application and receive an "eligibility certificate" before an application for the tax credit can be made.

2

Applicant must submit a Part B application for a tax credit certificate once he obtained the eligibility certificate and no later than 18 months following the end of the taxation year in which the qualified property was acquired. Multiple Part B application for tax credit certificates can be made since projects can run over a period of up to 5 years.

Documentation Needed: 

The applicant must submit the following documentation in support of his Part A application form:

  • proof that the corporation is an "eligible corporation" and that its corporate registration is in good standing,
  • financial statements (projected financial statements for taxation years during project period and financial statements for the preceding taxation year),
  • a business plan for the project,
  • the T2 corporate tax return and notice of assessment if the project is underway and qualified property has already been acquired,
  • the loan agreements for all loans provided by public authorities,
  • any additional information deemed necessary by the Minister.

The applicant must submit the following documentation in support of his Part B application form:

  • proof of the capital cost of each qualified property,
  • a statement identifying the qualified property that was acquired in respect of and that matches the business plan submitted in support of the eligibility certificate,
  • a statement detailing any government assistance with respect to the qualified property,
  • a status report of the project and explanation for any deviation from the business plan submitted in support of the eligibility certificate,
  • the T2 corporate tax return and notice of assessment for the taxation year immediately preceding the taxation year for which a tax credit certificate is sought,
  • a draft copy of the corporation's Schedule 31 for the T2 corporate return in the taxation year for which the tax credit is being applied for,
  • a copy of the corporation's CITC eligibility certificate,
  • any additional information deemed necessary by the Minister.

Other Things to Note:

New Guidelines were published in March 2022.

Program Contact:

Capital Investment Tax Credit - Nova Scotia Department of Finance

CITC Guidelines.pdf

Nova Scotia Innovation Equity Tax Credit

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Amount:

$ 112,500

Type of Program:

Tax Credit

Description:

The Innovation Equity Tax Credit (Innovation ETC) is a non-refundable personal and corporate income tax credit available to eligible investors who invest in an approved corporation. The credit is meant to encourage investors to make equity capital investments in eligible Nova Scotia small and medium corporations engaged in innovative activities.

Comments on Funding:

The credit is equal to 35% of eligible investments made in approved corporations, up to $ 87,500.

It increases to 45% for eligible investments made in approved corporations in eligible classifications within the oceans technology and life sciences sectors, up to $ 112,500.
The maximum annual investment amount is $250,000.

For corporations, the credit is equal to 15% of the eligible investment. The minimum investment amount is $50,000 and the maximum annual investment amount is $500,000. 

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be a taxable Canadian corporation,
  • carry-on a business in Nova Scotia (and be registered in Nova Scotia),
  • be incorporated less than 10 years ago,
  • have its head office in Nova Scotia,
  • use all or substantially all of its assets in an active business,
  • have less than $15 million in assets (including assets of associated corporations),
  • have fewer than 100 employees (including employees of associated corporations),
  • pay at least 50% of its remuneration to employees or full-time contractors who are residents of Nova Scotia and report to or deal with a permanent establishment of the corporation in Nova Scotia,
  • have authorized capital consisting of at least 1 class of common voting shares,
  • be developing or implementing new technologies or applying existing technologies in a new way to create new products, services or processes.
  • not fall under any of the restrictions below:
  • its principal business includes: construction, developing, leasing or selling real property, hotel ownership or management, retail, including food and beverage services, oil or gas exploration, development and production, film, digital animation, or digital media, membership based recreational activities, financial or insurance services,
  • it is incorporated for a self-regulated professional practice,
  • it is a business for which public financial support would be contrary to public policy,
  • it has been issued a Film Industry Tax Credit, Digital Media Tax Credit, Digital Animation Tax Credit, or Capital Investment Tax Credit,
  • it has been approved for or received a payroll rebate or an innovation rebate from Nova Scotia Business incorporated,
  • it has raised (along with all associated corporations) more than $5 million through previous specified issues.

An eligible investor is an individual who is a resident of Nova Scotia and at least 19 years of age or a taxable Canadian corporation which is registered to carry on business in Nova Scotia, has its head office in Nova Scotia, and is not a qualifying venture capital fund under section 27B of the Income Tax Act (Nova Scotia).

Application Steps:

1

Applicant must apply for a Certificate of Registration before accepting investments from eligible investors by submitting the completed application packages via email to the Innovation ETC Administrator.

2

 Applicant must Issue eligible investments to eligible investors through a specified issue.

3

Applicant must apply for Tax Credit Certificates on behalf of all eligible investors who made eligible investments during the time the corporation was registered under the program. The application for Tax Credit Certificates must be received by the department within 6 months of the expiry date on the corporation's Certificate of Registration.

4

Applicant must submit an annual return to the Innovation ETC administrator for each of the 4 years after the expiry date on the certificate of registration.

Documentation Needed: 

To apply for the Certificate of Registration the applicant must submit:

  • the completed and signed application form,
  • the financial statements for the previous tax year, together with a review engagement report or auditor’s report, for the applicant corporation and for all corporations associated with the applicant corporation,
  • T2 Corporate Income Tax Return for the previous tax year of the applicant corporation and of all corporations associated with the applicant corporation (including all forms and schedules),
  • an up-to-date and notarized shareholder’s register,
  • the corporate chart/structure, if applicable,
  • the shareholder agreements, if any,
  • the debenture agreements, if any,
  • the proposed investor forms completed by all proposed eligible investors,
  • a brief business plan,
  • the Certificate of incorporation, constitution/articles of incorporation and memorandum of association.

To apply for the Tax Credit Certificates the applicant must submit:

  • the completed Application Form,
  • the up-to-date and notarized shareholder’s register,
  • an Investor Data Report in Excel,
  • copy of each share certificate or convertible debenture issued to each eligible investor showing the terms of the share/debenture,
  • a signed statement from an authorized officer of the corporation.
  • signed statements from each eligible investor,
  • proof of payment from each eligible investor displaying the amount invested and date of investment.

Other Things to Note:

It's important to note that the deadline for applying for the Nova Scotia Innovation Equity Tax Credit can vary depending on the specific circumstances of your investment and the corporation you invested in. Therefore, it's recommended that you seek professional advice or consult the official guidelines from the Nova Scotia Department of Finance for more detailed information.

Program Contact:

Nova Scotia Department of Finance - Innovation Equity Tax Credit

Innovation-ETC Guidelines.pdf

Canada.ca - NS Innovation Tax Credit