SMEs

START Program Nova Scotia

by Maurice | June 7, 2023

Amount:

No Fixed Amount

Type of Program:

Subsidy

Description:

The START program offers financial incentives to businesses and organizations that have business locations and jobs in Nova Scotia to help them hire Nova Scotians who need work experience. There will be a focus on SMEs.

Benefits of the Nova Scotia Start Program:

The Start Program provides a range of career opportunities for unemployed individuals looking to enter the workforce. The program helps connect job seekers with employers who have vacancies that need to be filled.

One of the main benefits of the Start Program for job seekers is the letter of recommendation that they receive after applying. This letter helps market their skills and experience to potential employers, making it easier for them to find a job.

In addition to the letter of recommendation, the Start Program also provides job seekers with access to training and education opportunities. By participating in these programs, job seekers can improve their skills and increase their chances of finding employment in their desired field.

Employers who participate in the Start Program also benefit from the program’s incentives. These incentives include wage subsidies and other types of funding that can help offset the cost of hiring an unemployed Nova Scotian. By participating in the program, employers can find qualified candidates for their job vacancies and receive financial support to help with the cost of training and development.

Comments on Funding:

Funding is up to a maximum of $25,000 per hire, and at ENS’ discretion.
Incentives will vary depending on the type of employment offered and the skill level of the employee. Incentives can be used to pay for individual’s wages, MERC, training costs or other related costs associated with hiring of a new employee.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be a business, organization (Not-for-profit and Social Enterprises), with a focus on SMEs,
be located in Nova Scotia,
have its employees working in the province.

The individual he hires must be:

Nova Scotia resident,
unemployed and actively seeking full time or increasing employment,
Canadian citizens or permanent residents legally entitled to work in Canada OR be an international graduate (additional criteria may apply).

Application Steps:

Applicant must register in the online Labor Market Programs Support System (LaMPSS),

Applicant must complete the application form and submit it electronically.

Documentation Needed:

The applicants must attach a Job Description as supporting documentation.

Program Contact:

START program: hiring incentive

START-Program-Guidelines.pdf

Business Investment Fund – Business Development Support Program

by Maurice | February 6, 2023

Amount:

$100,000

Type of Program:

Grants

Description:

The Business Development Support Program assists Newfoundland and Labrador SMEs with opportunities to increase their productivity and improve their competitiveness. Funding is available for productivity improvements, knowledge development, market development and/or professional technical advice.

Comments on Funding:

Funding is in the form of a non-repayable contribution(s) to a maximum amount of $100,000 per government fiscal year.

The contribution level will be up to 50% of eligible costs, with the business identifying their access to the remaining funding to complete the project(s).

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The applicant must:

be a SME based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales
demonstrate a desire to develop and grow by improving the operations of the business, investing in its people, and focusing on trade opportunities,
demonstrate its ability to undertake the work identified in the project proposal,
demonstrate its ability to access the financial capital required to complete the project,
operate in a strategic sectors that normally focus on export markets and/or improve import substitution,
be in good standing with the Government of Newfoundland and Labrador.

Application Steps:

The applicant must submit a signed, completed application with supporting documentation to the office of Industry, Energy and Technology (IET) in his area.

Documentation Needed:

The applicant must submit:

the application form
a business plan and project summary & Benefits,
financial statements for the current and previous two to five years of operation including notes to the financial statements and the most recent interim statements. If a proprietorship, include recent and previous two to five years personal income tax returns including CRA T2125 form and Notice of Assessment, if an existing business,
a copy of the Articles of Incorporation,
a Personal Net Worth Statement for all shareholders and key management personnel (loans/equity investments only),
a Cash Flow Statement and pro forma statements for the next two to five years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if an existing business,
Income Statement and Opening Balance Sheet, a Cash Flow Statement and pro forma statements for the next two years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if a new business,
any supplementary information that may be relevant to his operation.

For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.

Other Things to Note:

The Business Investment Fund provides a source of funding to business and economic sectors in Newfoundland and Labrador that responds to the changing needs of enterprises. The Business Investment Fund is comprised of two components: the Business Investment Program and the Business Development Support Program.

Program Contact:

Business Development Support Program

Application for Assistance

Business Investment Fund – Business Investment Program

by Maurice | February 6, 2023

Amount:

$1,000,000.00

Type of Program:

Loan & Investment

Description:

The Business Investment Program provides term loans and equity investments to Newfoundland and Labrador SMEs in strategic growth sectors as identified by Industry, Energy and Technology (IET). The fund is also available to businesses which have export potential and require assistance to enter or expand in external markets.

Funds are provided to complement funding from conventional sources, where a need has been demonstrated, and are also intended to increase the capital base of businesses allowing them to leverage new private-sector investments.

Comments on Funding:

Funding is in the form of repayable term loans at the department's base rate of 4,5%.

Equity funding is in the form of redeemable preferred shares to a maximum of $500,000 per project and a maximum aggregate of $1 million is available.

When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

be a SME based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales,
demonstrate its ability to undertake the work identified in the project proposal,
demonstrate its ability to access the financial capital required to complete the project,
operate in a strategic sector as defined by IET,
be in good standing with the Government of Newfoundland and Labrador.

Strategic sectors: Advanced Technologies, Aerospace, Agri-foods, food and beverage, Aquaculture, Biotechnology and Life Sciences, Craft, Gift and Apparel, Energy, Environmental Industries, Fishery (excludes fish harvesting and primary processing), Forest Products, Information and Communications, Technology, Manufacturing, Ocean Technology, Mineral Resources, Natural Stone, and Tourism and Cultural Industries.

Application Steps:

The applicant must submit a signed, completed application with supporting documentation to the office of Industry, Energy and Technology (IET) in his area.

Documentation Needed:

The applicant must submit:

the application form,
a business plan and project summary & Benefits,
financial statements for the current and previous two to five years of operation including notes to the financial statements and the most recent interim statements. If a proprietorship, include recent and previous two to five years personal income tax returns including CRA T2125 form and Notice of Assessment, if an existing business,
a copy of the Articles of Incorporation,
a Personal Net Worth Statement for all shareholders and key management personnel (loans/equity investments only),
a Cash Flow Statement and pro forma statements for the next two to five years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if an existing business,
Income Statement and Opening Balance Sheet, a Cash Flow Statement and pro forma statements for the next two years including Balance Sheet and Income Statement with detailed assumptions supporting revenue forecasts, if a new business,
any supplementary information that may be relevant to his operation.

For larger, more complex projects a more detailed Business Plan, a Feasibility Study and/or Market Study may be required.

Program Contact:

Business Investment Program

Application for Assistance

Innovate to Opportunity Hiring Incentive

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Subsidy

Description:

Innovate to Opportunity (ITO) is providing Nova Scotia SMEs an incentive to hire recent masters and PhD grads for jobs that are focused on research and innovation that will help businesses begin, prepare for, or expand exports.

Employers can receive salary incentives in one of two streams: Innovation Stream, where the new graduate's work should be expected to help the company prepare for, begin or expand exports, or Advanced Innovation Stream, where his work must also have an explicit connection to export development or growth.

Comments on Funding:

Funding under the Innovation Stream is 35% of the graduate’s annual salary in Year 1, 20% in Year 2 and 12.5% in Year 3, up to an annual salary of $100,000.

Funding under the Advanced Innovation Stream is 50% of the graduate’s annual salary in Year 1, 25% in Year 2, and 12.5% in Year 3, up to an annual salary of $100,000.

A diversity bonus of an additional 10% can be provided in the 1st and 2nd years of both streams, if the graduate is a woman in an under-represented occupation, self-identifies as a racially visible minority, is Mi’kmaq or Indigenous, an international student or a person with a disability.

When It Ends:

Ongoing

Deadline:

Rolling Deadline

Eligibility:

The company must:

be a Nova Scotia operating SME,
have up to 500 full-time employees,
create a full-time position focused on innovation and pay a minimum annual salary of $60,000.

The new hire must:

have successfully completed a master’s or PhD program at a recognized university within a year of the date the employer’s application is received.

Application Steps:

The applicant must:

complete the online application form.

Documentation Needed:

Applicants must submit alongside the application form:

1
a description of their organization and its mandate,
2
contact details of a person at their organization who will be responsible for the agreement,
3
a job description for the new position you wish to create, as well as its location,
4
a T4 Summary or other documentation to show the number of employees,
5
a complete Innovation Plan.

Once the chosen graduate is hired, the employer must submit the following three documents to the Youth Initiatives Program Agreement Manager:

1
a copy of the graduate’s degree or a letter from the respective university confirming that they have completed all program requirements, and the date of their convocation.
2
a signed copy of the graduates’ employment letter of offer between your organization and the graduate, including the following information: salary, permanent/full-time Employment, new position, start date, signatures of the graduate (new hire) and employer
3
a completed Graduate Information Form, which can be downloaded from the Innovate to Opportunity Program website. This is where the new hire has an opportunity to self-identify as aboriginal Canadian, a visible minority, a person with a disability, a woman in an under-represented occupation or an international graduate, which would make the employer eligible to receive an additional 10% diversity bonus in the first and second year.

Other Things to Note:

Issue Date: October 2022 (Guidelines)

Program Contact:

Innovate to Opportunity hiring incentive

Innovate_to_Opportunity_Book.pdf

Productivity and Innovation Voucher Program

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Grants

Description:

The Productivity and Innovation Voucher Program helps Nova Scotia SMEs access direct assistance from post-secondary institutions to help make their business more productive and innovative. Vouchers are used to obtain services from eligible Service Providers.

There are two tiers of the Productivity and Innovation Voucher Program:

Tier 1: for eligible businesses that have not previously been awarded a voucher or are applying with a new project;
Tier 2: for eligible businesses to build on work already completed through a Tier 1 Voucher.

Comments on Funding:

Funding for Tier 1 is in vouchers of up to $15,000.
Funding for Tier 2 is in vouchers of up to $25,000.

When It Ends:

Closed

Deadline:

N/A

Eligibility:

Applicants must:

be Nova Scotia registered businesses, registered on the Registry of Joint Stock Companies,
have a permanent establishment in Nova Scotia,
have the majority of its workforce currently reside in Nova Scotia (some exceptions may apply),
have fewer than 100 employees at the time of application,
have an export plan outlining the following: the products or services they plan to market, their company’s target market(s) and distribution channels with supporting research, challenges in the target market(s) (competition, cultural differences, import controls, intellectual property status, certifications, etc.) and how these will be overcome,
clearly demonstrate the development of both a business plan and export plan, if the company is pre-revenue.
not be franchises, real estate developers, games of chance operations, liquor establishments whose primary business is alcohol sales, distributors, agents or traders, associations, creative industries, tourism operators, publicly funded organizations, non-revenue-generating not-for-profit organizations.

Application Steps:

Applicants must submit a completed and signed Application Form by email to the Regional Business Development Advisor at Nova Scotia Business Inc. Prior to submitting an application, it is recommended that applicants contact their local Regional Business Development Advisor.

Documentation Needed:

Applicants must submit the completed and signed Application Form with all the questions answered and with Section III completed and signed by the Service Provider.

The application for pre-revenue companies may be subject to additional review or additional information required.

Other Things to Note:

Due to the high volume of applications to the Productivity and Innovation Voucher Program, the intake period is now closed and applications are no longer being accepted.

The intake period for the 2022-2023 Productivity and Innovation Voucher Program is now closed. - recurrent program?

Program Contact:

Productivity and Innovation Voucher Program

PIVF Guidelines.pdf

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