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