Business Development Program
Canada
Funding to help businesses in Atlantic Canada
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Manufacturing
- Retail trade
- Other services (except public administration)
grant_single|grantors
- Atlantic Canada Opportunities Agency (ACOA)
- Government of Canada
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get financial assistance to provide business services such as entrepreneurship development, marketing, training and technology transfer.
grant_single_labels|projects
This grant is available to companies located in Atlantic Canada, as determined by the funding body, ACOA. The eligible locations target the provinces within this region to stimulate business growth.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
grant_single|admissibleProjectsExample
$45,000
Conduct a productivity improvement study focusing on automation of key manufacturing processes
$35,000
Improve quality assurance processes to meet international certification standards
$37,500
Launch a comprehensive marketing campaign to boost brand awareness across Canada
$25,000
Implement an advanced staff training program in new marketing strategies for growth
$30,000
Conduct an efficiency study for implementing Lean Manufacturing processes in operations
$40,000
Implement an environmental management system to improve our sustainability practices
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
The Business Development Program is available to both entrepreneurs and non-profit organizations in Atlantic Canada. Entrepreneurs looking to launch, modernize, or grow their businesses can apply, as well as non-profit organizations that support the growth and competitiveness of Atlantic Canadian SMEs.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The BDP provides support for specific business growth activities and non-profit organizational expenses to enhance business productivity and competitiveness.
- Staff training.
- Efficiency studies.
- Marketing and trade activities.
- Productivity improvements.
- Quality assurance.
- Environmental management systems.
- Business counselling and advice for SMEs.
- Training and specialized services for SMEs.
- Networking opportunities for SMEs.
- Research and development for SMEs.
- Technology transfer for SMEs.
grant_single_labels|criteria
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
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: Project Discussion
- Contact your nearest ACOA office to discuss your project and determine eligibility.
- Clarify any questions about the BDP funding program and application process.
- Step 2: Application Preparation
- Complete the Application for financial assistance provided by ACOA.
- Gather necessary project information and documents.
- Step 3: Submission
- Submit the completed application to the nearest ACOA office.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
1-888-576-4444
Apply to this program
Unlocking Growth in Atlantic Canadian Businesses
The Business Development Program (BDP) supports entrepreneurs in Atlantic Canada with interest-free, unsecured funding, facilitating business launches, expansions, and modernizations. This grant empowers both commercial ventures and non-profit organizations, propelling economic development and competitive advancement in the region.
In-Depth Exploration of the Business Development Program
The Business Development Program (BDP) is an initiative by the Atlantic Canada Opportunities Agency (ACOA) aimed at fostering economic growth and business innovation in the Atlantic region. This strategic funding program is designed to bolster both new and existing businesses by providing necessary financial support, thereby driving entrepreneurial spirit and enhancing competitiveness across Nova Scotia, New Brunswick, Prince Edward Island, and Newfoundland and Labrador.
One of the standout features of the BDP is its focus on providing interest-free, unsecured repayable funding. This unique aspect is particularly appealing to small and medium-sized enterprises (SMEs) that may face challenges in securing traditional financing. By offering up to 50% of the required capital for business growth or establishment, the BDP significantly reduces financial barriers, enabling businesses to focus on their core operations and innovative pursuits. In addition, businesses can leverage these funds to modernize operations, improve efficiency, and enhance productivity, thereby ensuring they remain competitive in both domestic and international markets.
For non-profit organizations, the BDP offers an avenue to facilitate the growth of SMEs through targeted support in business counselling, training, and research and development initiatives. By funding projects that promote business networking, technology transfer, and specialized services, non-profits become integral players in driving regional economic development. This collaborative approach ensures that the business environment in Atlantic Canada is rich with opportunities for innovation and entrepreneurship.
BDP also covers a broad spectrum of growth activities, providing up to 75% funding for various initiatives, including staff training, marketing strategies, productivity enhancements, and environmental management efforts. This comprehensive support package is tailored to equip businesses with the capabilities required to respond to market demands efficiently and effectively. The program recognizes the dynamic nature of today's business world, where adaptability and quality assurance are paramount to success.
Applying for the BDP involves initial consultations with ACOA's experienced business information services team, ensuring that applicants receive personalized, bilingual assistance tailored to their specific needs and goals. The application process is straightforward, designed to facilitate ease of access and prompt engagement with potential applicants across the region.
Furthermore, the impact of the Business Development Program is well-documented through numerous success stories of Atlantic Canadian businesses that have leveraged the funding to achieve significant milestones. For instance, companies like Surrette Battery in Springhill, Nova Scotia, have benefitted from the program to modernize and upscale their operations, thereby contributing to regional job creation and economic diversification.
The program's commitment to supporting inclusive economic growth is highlighted by its adaptability to different sectors and entrepreneurial landscapes. This ensures diverse industries, from technology-driven enterprises to traditional sectors, can all access meaningful support to thrive and expand. The well-rounded approach taken by the BDP not only fosters resilience among individual businesses but also elevates the broader regional economy.
Ultimately, the Business Development Program stands as a powerful catalyst for change, inviting entrepreneurs and organizations in Atlantic Canada to seize new opportunities and elevate their potential. By aligning with the program’s objectives, participants have the chance to not only enhance their own enterprise's prospects but also collectively contribute to the sustainable growth and prosperity of the Atlantic Canadian economy.
