Business Development Program — Commercial Component
Overview
Get an interest-free repayable or conditionally repayable contribution to cover up to 75% of the costs to start, expand or modernize your business.
At a glance
Funding available
- Integrate new technologies
- Develop a new product
- Develop an online presence
- Up to 75% of project cost
- Open continuously
Eligible candidates
- Manufacturing
- Other services (except public administration)
- New Brunswick, Newfoundland and Labrador, Nova Scotia, Prince Edward Island
- Non-profit
- Public or Parapublic institution
- For-profit business
- All revenue ranges
- All organization sizes
- Startups
- Research
- Economic, Social and Community Development
- Employment and Training
- Business Associations
- Not Elsewhere Classified
- Business owners / entrepreneurs
- Nonprofits / charities
- All structures
- Regional
- Provincial
Activities funded
The Business Development Program offers support to both entrepreneurs and non-profit organizations engaged in activities that propel business growth and competitiveness in Atlantic Canada. Entrepreneurs can obtain funding to expand and modernize their operations, while non-profits can support SMEs with specialized services and resources.
- Staff training for skill enhancement and development.
- Efficiency studies aimed at optimizing business processes.
- Marketing and trade activities to increase market reach and sales.
- Productivity improvements to enhance operational effectiveness.
- Quality assurance initiatives to maintain product/service standards.
- Implementation of environmental management systems for sustainable business operations.
- Business counselling and advice for strategic growth planning.
- Specialized training services tailored to specific industry needs.
- Networking opportunities to foster business collaborations and partnerships.
- Research and development to innovate and improve products/services.
- Technology transfer to enhance business capabilities and competitiveness.
Eligibility
Eligibility for this grant through the Business Development Program (BDP) is determined based on specific criteria for both entrepreneurs and non-profit organizations in Atlantic Canada.
- The applicant must be an entrepreneur or an existing company located in Atlantic Canada.
- For entrepreneurs, the applicant must be looking to start a new business or expand an existing one with support for up to 50% of capital needs.
- Eligible business growth activities can receive up to 75% funding for staff training, efficiency studies, marketing/trade activities, productivity improvements, quality assurance, and environmental management systems.
- For non-profit organizations, the focus must be on supporting Atlantic Canadian SMEs through business counselling, training, networking, research and development, or technology transfer.
Who is eligible?
The Business Development Program (BDP) by the Atlantic Canada Opportunities Agency (ACOA) is open to entrepreneurs looking to launch, modernize, or grow their business in Atlantic Canada. Additionally, non-profit organizations that support business growth can also apply. Entrepreneurs and businesses can access up to 50% of the capital required for business start or expansion, through interest-free and unsecured repayable funding. Existing companies may receive contributions covering up to 75% of costs associated with staff training, efficiency studies, marketing, productivity improvements, quality assurance, and environmental management systems. Non-profits assisting SMEs with counselling, training, networking, research, and technology transfer can also receive funding. Applications require contacting the nearest ACOA office to discuss the project before submission.Who is not eligible
There are certain types of companies that are not eligible for this grant. Companies engaged in specific industries or activities such as tobacco, gambling, or adult entertainment may not qualify for funding through the Business Development Program.
- Tobacco manufacturing
- Gambling or betting services
- Adult entertainment or related industries
Eligible expenses
The Business Development Program (BDP) offers funding for initiatives that aim to expand and modernize businesses in Atlantic Canada. Eligible activities include support for growth in both entrepreneurial ventures and non-profit organizations that assist small and medium enterprises (SMEs).
- Staff training initiatives to enhance skills and capabilities.
- Efficiency studies to identify and implement operational improvements.
- Marketing and trade activities for business expansion and market reach.
- Investments in productivity improvements.
- Quality assurance processes to meet industry standards.
- Development of environmental management systems for sustainability.
- Business counselling and advice for SMEs.
- Training and specialized services for business development.
- Networking opportunities to foster collaboration and partnerships.
- Research and development to drive innovation.
- Technology transfer to improve business operations.
Eligible geographic areas
This program is specifically aimed at businesses located in Atlantic Canada, as it is coordinated by the Atlantic Canada Opportunities Agency (ACOA). Eligible areas are thus outlined to focus on this unique region.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
Selection criteria
There are evaluation and selection criteria for this grant. The criteria include:
- Demonstrated potential for business growth or modernization
- Clear plan for the use of funds
- Impact on the Atlantic Canadian economy
- Viability and sustainability of the project
How to apply
Initial Contact
- Reach out to your nearest ACOA office to discuss your project.
- Engage in discussions to understand how your project aligns with the BDP goals.
Application Preparation
- Download or request the Application for financial assistance from ACOA.
- Prepare necessary details and documentation for the application, including project descriptions and financial details.
Application Submission
- Complete the Application for financial assistance with all required information.
- Submit the application to the appropriate ACOA office via email or as directed by them.
Follow-up
- Contact ACOA for any updates or further requirements post-submission.
- Be prepared to provide additional information or clarification if requested by ACOA.
Additional information
Consider the following additional relevant details for the Business Development Program:
- The funding provided is repayable but interest-free and unsecured, reducing financial burden on the applicant.
- ACOA offers personalized, bilingual assistance to guide applicants through the program application process.
- An emphasis is placed on projects that can demonstrate a tangible improvement in productivity, competitiveness, and economic impact.
- Successful applicants are expected to actively engage in progress monitoring and submit reports to assess the efficiency of the funding.
