Business Development Program — Commercial Component
Canada
Money for start-up and expansion 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
- 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 an interest-free repayable or conditionally repayable contribution to cover up to 75% of the costs to start, expand or modernize your business.
grant_single_labels|projects
This grant is available to entrepreneurs and businesses located in Atlantic Canada. It aims to support business growth in this region through financial assistance and development programs.
- Nova Scotia
- New Brunswick
- Prince Edward Island
- Newfoundland and Labrador
grant_single|admissibleProjectsExample
$37,500
Launching a marketing campaign to expand our organic skincare line across Canada
$33,750
Implementing an environmental management system in our printing company to reduce carbon footprint
$22,500
Implementing a new staff training program to improve customer service at our boutique
$33,750
Conducting an efficiency study to optimize production processes in our manufacturing plant
$48,750
Developing a quality assurance system for our local dairy production to enhance product quality
$30,000
Implementing productivity improvements in our artisan bakery to reduce waste and increase output
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
The Business Development Program covers a variety of expenses that aid in the growth and modernization of businesses in Atlantic Canada.
- Staff training costs.
- Efficiency study expenses.
- Marketing and trade activity costs.
- Productivity improvement expenses.
- Quality assurance costs.
- Environmental management system expenses.
grant_single_labels|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
grant_single_labels|register
Here are the steps to submit an application for this grant:
- Step 1: 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.
- Step 2: 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.
- Step 3: 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.
- Step 4: Follow-up
- Contact ACOA for any updates or further requirements post-submission.
- Be prepared to provide additional information or clarification if requested by ACOA.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
1-888-576-4444
Apply to this program
Empowering Entrepreneurs in Atlantic Canada
The Business Development Program (BDP) offered by the Atlantic Canada Opportunities Agency (ACOA) is a vital resource for entrepreneurs aiming to start, modernize, or expand their businesses in the region. By providing interest-free funding, the program supports business growth and fosters a competitive entrepreneurial ecosystem across Atlantic Canada.
Exploring the Business Development Program in Detail
The Atlantic Canada Opportunities Agency’s Business Development Program (BDP) is a strategic initiative tailored to nurture entrepreneurship and bolster economic growth in Atlantic Canada. The program focuses on providing financial assistance to entrepreneurs and non-profit organizations that drive business development, helping them to launch new ideas or elevate existing operations to reach new heights.
One of the standout features of the BDP is its commitment to aiding entrepreneurs in acquiring the necessary funding to either start a new venture or expand current business operations. The structure of the program is particularly advantageous as it offers repayable funding that is both interest-free and unsecured, allowing businesses to secure up to 50% of the required capital for growth endeavors without the burden of incurring high interest costs. This significantly reduces the financial barriers that often impede the development and scaling of small and medium-sized enterprises (SMEs). Furthermore, the flexibility of the program allows for extensive business growth activities to be funded, covering up to 75% of the associated costs. Key areas of support include staff training, marketing, trade activities, efficiency studies, productivity improvements, and environmental management systems, all critical components for modernizing business operations in today's competitive market.
In addition to providing direct financial support to individual businesses, the BDP also fosters a supportive business environment by funding non-profit organizations that work with SMEs. These organizations receive funding to deliver various supportive services, such as business counseling, training, networking opportunities, and research and development initiatives. By enhancing these support structures, the BDP ensures that SMEs have access to valuable resources, fostering an ecosystem where businesses can thrive through shared knowledge and strategic partnerships.
The impact of the BDP is multifaceted. It not only empowers individual entrepreneurs and businesses but also stimulates regional economic development. By focusing on sustainable growth and innovation, the program contributes to the overall competitiveness of Atlantic Canada in both national and international markets. Anecdotal evidence of this impact can be seen through business success stories from recipients of the funding, who have reported increased productivity, new product lines, and successful market expansions.Furthermore, the BDP actively encourages innovation and environmental sustainability by supporting initiatives that align with contemporary economic and environmental goals. Businesses are thus incentivized to not only strive for economic success but also to consider their environmental footprint and adopt practices that contribute to the sustainability of their operations and the communities they serve.
This program is accessible to a wide array of entrepreneurs and non-profit entities, fostering inclusivity and diversity in the business sector of Atlantic Canada. With personalized assistance offered through ACOA Business Information Services, prospective applicants can seamlessly navigate the application process and connect with the appropriate resources, ensuring they have the best chance to benefit from the program.
The Business Development Program by ACOA represents much more than a financial aid scheme; it is a comprehensive support system aiming to drive entrepreneurial success and regional economic vitality. By participating in this program, businesses not only secure financial support but also gain invaluable access to a network of resources and expertise designed to maximize their growth potential and long-term success.
