How much funding can be received?

Funds up to 75% of admissible expenses, capped at $7500 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the CBDC Business Valuation and Succession Planning?

CBDC Business Valuation and Succession Planning is funded by Community Business Development Corporations (CBDC)

What are CBDC Business Valuation and Succession Planning's eligibility criterias?

Small businesses operating in a CBDC-governed region, actively preparing to transfer ownership. Businesses must be in good standing with CRA, ACOA, and the Government of NL.

CBDC Business Valuation and Succession Planning

grant_single|update January 24, 2025

NS, Canada

Funding to conduct business valuations

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grant_single|openingDate June 15, 2022

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Grant and Funding

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Community Business Development Corporations (CBDC)

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Get up to $7,500 to cover a maximum of 75% of the eligible expenses to hire a professional valuator that will provide an estimate of your business value and enable you to set a sale price.

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This grant provides financial support for business valuations and aims to facilitate the smooth transition and ownership transfer of existing businesses in rural communities.

Contributes 75% of eligible costs up to a maximum of $7,500 for conducting business valuations.

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Eligible projects for this grant involve initiatives focused on estimating the economic value of a business and facilitating the transition of business ownership. These efforts aim to support smooth succession planning and the showcasing of business opportunities to prospective buyers.

Conducting business valuations to estimate the economic value of an owner's interest in a business.
Preparing businesses for ownership transition through professional succession planning.
Showcasing business opportunities in provincial, national, and potentially international markets to attract potential buyers.

grant_single|admissibleProjectsExample

$ 4,800

Perform a valuation of an artisanal bakery to aid in ownership transfer

$ 5,250

Conduct a valuation of a local coffee shop to determine the business's market value

$ 4,875

Obtain a professional valuation for a small tech startup

$ 5,250

Evaluate the going concern value of a small family-owned bookstore

$ 4,500

Assess the value of a local organic grocery store to facilitate ownership transfer

$ 4,500

Determine the valuation of a dog grooming business to set a sale price

grant_single_labels|admissibility

Eligibility for this program requires meeting certain conditions set forth for small businesses in specific regions and good standing with certain authorities.

Small businesses must be operating in a CBDC governed region and actively preparing to transfer ownership of the business.
Businesses must be in good standing with the Canada Revenue Agency (CRA), the Atlantic Canada Opportunities Agency (ACOA), and the Government of Newfoundland and Labrador.

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Small businesses operating in a CBDC governed region, that are actively preparing to transfer ownership of the business.Businesses in good standing with CRA, ACOA, and Government of NL.

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This grant supports businesses in rural communities by providing financial assistance for business valuations and promoting succession planning. The eligible projects focus on assessing the economic value of businesses and showcasing opportunities to potential markets.

Conducting business valuations with the assistance of professional valuators.
Showcasing business opportunities in provincial, national, and international markets.

grant_eligibility_criteria|zone

This grant is accessible to small businesses situated in areas governed by the Community Business Development Corporations (CBDCs) in Newfoundland and Labrador. It specifically focuses on rural communities that are actively engaged in business transitions.

Small businesses in Newfoundland and Labrador covered by CBDC services.
Enterprises actively participating in succession planning.
Regions identified for community development through business transitions.

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There are evaluation and selection criteria for this grant:

Applicants must be small businesses operating in a CBDC governed region, actively preparing to transfer ownership of the business
Businesses must be in good standing with CRA, ACOA, and Government of NL
Program requirements include an application fee of 3% (up to $300), working with a qualified consultant, and agreeing to share the opportunity on businessatlantic.ca

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Here are the steps to submit an application for this grant:

Step 1: Check Eligibility
- Ensure your business operates in a CBDC governed region in Newfoundland and Labrador.
- Verify your business is in good standing with CRA, ACOA, and Government of NL.
Step 2: Prepare Required Documentation
- Gather documents proving your business's eligibility.
- Engage a qualified consultant to assist with a business valuation.
Step 3: Application Fee
- Prepare to pay an application fee of 3%, up to a maximum of $300.
Step 4: Share Business Opportunity
- Agree to have your business opportunity listed on businessatlantic.ca.
Step 5: Contact CBDC
- Reach out to your local CBDC for specific application details and assistance.
- Inquire about the process for submitting your application.
Step 6: Complete and Submit Application
- Follow instructions provided by CBDC to complete your application.
- Submit your application to the appropriate CBDC office before the deadline, if applicable.
Step 7: Await Confirmation
- Once submitted, wait for confirmation from the CBDC regarding your application status.

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Here are additional relevant details for this grant:

CBDC personnel offer support and guidance to help business owners navigate the program.
The program is part of a pilot initiative, indicating it may be subject to changes or updates based on its outcomes and assessments.