Business Development Program (BDP)

The Business Development Program provides entrepreneurs and non-profit organizations in Atlantic Canada with interest-free, unsecured funding options to support business growth and development. The financing modalities are designed to ensure broad support for diverse business initiatives.

• Repayable funding for entrepreneurs, covering up to 50% of the capital needed for business expansion or launching new ventures.
• Interest-free contributions for business growth activities, covering up to 75% of costs related to staff training, efficiency studies, marketing/trade activities, productivity improvements, quality assurance, and environmental management systems.

Eligibility for this grant program is aimed at both entrepreneurs and non-profit organizations seeking to foster business growth in Atlantic Canada.

• The applicant must be an entrepreneur looking to launch, modernize, or grow a business.
• The applicant could also be a non-profit organization that supports SME growth and competitiveness.
• Applicants must be located within Atlantic Canada.

Who is eligible?

Who is not eligible

There are certain types of companies that are not eligible for this grant. Companies involved in illegal activities or those that do not comply with regional regulations may not qualify.

• Companies engaged in illegal activities
• Businesses not compliant with regional regulations

Eligible expenses

The Business Development Program (BDP) offers support to entrepreneurs and non-profit organizations in Atlantic Canada for a variety of business growth activities. The eligible projects are geared towards expanding business capabilities and enhancing competitiveness in various operational areas.

• Staff training initiatives to improve workforce skills.
• Conducting efficiency studies to identify and implement cost-saving measures.
• Marketing and trade activities to expand market reach.
• Efforts aimed at enhancing productivity in business operations.
• Quality assurance programs to meet industry standards.
• Developing and implementing environmental management systems.
• Business counseling and advisory services for SMEs.
• Provision of training and specialized services to SMEs.
• Facilitation of networking opportunities for business growth.
• Research and development projects to foster innovation.
• Initiatives for technology transfer to improve competitive edge.

Eligible geographic areas

This grant is specifically tailored for businesses located in Atlantic Canada, as determined by the Atlantic Canada Opportunities Agency (ACOA). The focus on this region aligns with efforts to foster economic development and business growth within these areas.

• Nova Scotia
• New Brunswick
• Prince Edward Island
• Newfoundland and Labrador

There are evaluation and selection criteria for this grant. The criteria include:

• Demonstrated need for funding
• Viability and sustainability of the business
• Potential economic impact
• Alignment with ACOA's objectives

Here are additional relevant details for this grant:

• The funding is interest-free and unsecured, providing significant financial flexibility.
• Repayable funding is available for entrepreneurs to cover up to 50% of capital needs.
• Non-profit organizations can receive support to enhance SME competitiveness and productivity.
• ACOA Business Information Services offer personal, bilingual, and free consultation services for applicants.