Amount:$3,750.00 Type of Program:Grants Description:The Small Business Investment Grant helps Prince Edward Island’s small businesses improve efficiency and innovation by way of a non-repayable financial contribution toward eligible capital asset costs.Comments on Funding:Funding is 15% of the actual eligible cost as determined at the time of the request for reimbursement – resulting in a maximum…
Amount:No Fixed Amount Type of Program:Subsidy Description:The Small Enterprise Co-operative Placement Assistance Program (SECPAP) provides wage subsidies to small businesses that provide work experience to post secondary co-operative education students in Newfoundland and Labrador. Placements are for 12-16 weeks in duration with the exception of computer science which can range from 8-16 months in duration. Comments…
Amount:$75,000 Type of Program:Tax Credit Description:The Venture Capital Tax Credit Program (VCTC) is a provincial non-refundable tax credit available for both individual and corporate investors, but not trusts, equal to 30% of the amount invested in the qualifying venture capital fund (QVCF) through the purchase of limited partnership units or newly issued shares.Comments on Funding:Funding…
Amount:No Fixed Amount Type of Program:Tax Credit Description:The Small Business Tax Rate provides small business owners in Newfoundland and Labrador a reduced rate of 3% to determine the corporate income tax payable.Comments on Funding:The support is a reduced rate of 3% to determine the applicant’s corporate income tax payable instead of the general corporate income…
Amount:$50,000 Type of Program:Tax Credit Description:The Direct Equity Tax Credit is designed to encourage private investment in new or expanding small businesses as a means of creating new jobs and diversifying the economy. An investment credit, in the form of a provincial income tax credit, is available to individuals and arm’s length corporations who invest…
