Business Development Support Program
NL, Canada
Money for business improvement in Newfoundland and Labrador
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Department of Industry, Energy and Technology (NL)
- Government of Newfoundland and Labrador
grant_single|status
grant_card_status|open
grant_single_labels|preview
Get a non-repayable contribution of up to $100,000 to cover up to 50% of costs relating to improvements in your productivity and competitiveness, or to focus on trade opportunities.
grant_single_labels|projects
- Productivity improvements
- Knowledge development
- Market development
- Professional technical advice
grant_single|admissibleProjectsExample
$50,000
Calgary
Upgrade farming equipment to enhance crop yield and reduce environmental impact
$35,000
Vancouver
Develop a comprehensive training program for employees to enhance digital marketing skills
$50,000
Edmonton
Implement a new software system to streamline logistics and inventory management for a local retail chain
$50,000
Toronto
Obtain professional technical advice to improve production processes for a small manufacturing business
grant_single_labels|admissibility
- Be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales.
- Demonstrate the ability to undertake the work identified in the project proposal.
- Demonstrate the ability to access the financial capital required to complete the project.
- Operate in a strategic sector as defined by IET.
- Be in good standing with the Government of Newfoundland and Labrador.
grant_eligibility_criteria|who_can_apply
Eligible applicants for the Business Development Support Program must be small and medium-sized enterprises (SMEs) based and operating in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales.
- SMEs with fewer than 100 employees
- SMEs with less than $10 million in sales
- Businesses operating in strategic sectors as defined by IET
grant_eligibility_criteria|who_cannot_apply
There are specific types of companies that are not eligible for this grant:
- Companies with more than 100 employees or sales exceeding $10 million.
- Companies operating outside of Newfoundland and Labrador.
- Companies unable to demonstrate the ability to access required financial capital.
grant_eligibility_criteria|eligible_expenses
Eligible expenses for this grant include, but are not limited to:
- Productivity improvements
- Knowledge development
- Market development
- Professional technical advice
grant_eligibility_criteria|zone
Eligible applicants for the Business Development Support Program must normally:
- Be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales.
- Demonstrate its ability to undertake the work identified in the project proposal.
- Demonstrate its ability to access the financial capital required to complete the project.
- Operate in a strategic sector as defined by IET.
- Be in good standing with the Government of Newfoundland and Labrador.
grant_single_labels|criteria
The Business Development Support Program has evaluation and selection criteria to determine eligibility and project feasibility.
- Applicant must be an SME based in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales.
- Applicant must demonstrate the ability to undertake the proposed project, access necessary financial capital, operate in a strategic sector, and be in good standing with the Government of Newfoundland and Labrador.
grant_single_labels|register
- Step 1: Be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador with fewer than 100 employees and less than $10 million in sales
- Step 2: Demonstrate ability to undertake the work identified in the project proposal
- Step 3: Demonstrate ability to access the financial capital required to complete the project
- Step 4: Operate in a strategic sector as defined by IET
- Step 5: Ensure good standing with the Government of Newfoundland and Labrador
- Step 6: Complete and submit the application form for Commercial Programs
- Step 7: Contact the Industry, Energy and Technology office for program details or assistance
Apply to this program
Business Development Support Program Summary
The Business Development Support Program aims to assist Newfoundland and Labrador SMEs in enhancing their productivity, competitiveness, and growth opportunities. Eligible small and medium-sized enterprises can receive non-repayable contributions of up to $100,000 per government fiscal year to support projects related to productivity improvements, knowledge development, market expansion, and professional advice.
Exploring the Business Development Support Program
The Business Development Support Program offered by the Government of Newfoundland and Labrador is a valuable resource for SMEs looking to optimize their operations, invest in their workforce, and explore trade avenues. This program targets businesses operating in strategic sectors with a focus on export markets or import substitution. By providing financial assistance of up to 50% of eligible project costs, this initiative encourages businesses to innovate, grow, and contribute to the economic development of the region.
Eligibility for this program is limited to SMEs based and operating in Newfoundland and Labrador with fewer than 100 employees and sales of less than $10 million. Applicants must demonstrate their capacity to undertake proposed projects, access necessary financial resources, and be in good standing with the government. Strategic sector businesses are encouraged to leverage this program to drive productivity, expand market reach, and seek professional guidance to enhance their competitiveness.
Through the Business Development Support Program, SMEs can access funding for initiatives such as productivity enhancements, skill development, market research, and expert advice. By partnering with the program, businesses can leverage financial support to implement projects that lead to sustainable growth, increased efficiency, and enhanced competitiveness in the global marketplace.
Applying for the program involves completing the designated forms and demonstrating a clear plan for the proposed project. Businesses seeking guidance or further details about the program can reach out to the Industry, Energy, and Technology office for assistance. The program's focus on empowering SMEs to excel in strategic sectors and pursue growth opportunities underscores its commitment to fostering economic development and innovation within Newfoundland and Labrador.
In conclusion, the Business Development Support Program serves as a catalyst for SMEs to embark on projects that drive productivity, innovation, and competitiveness. Through this initiative, businesses can access vital financial support and resources to fuel their growth aspirations, enhance operational efficiency, and seize opportunities for market expansion, ultimately contributing to the economic vitality of the region.