How much funding can be received?

Access various types of support including financial assistance, counselling, and technical advice during the initial stages of starting a business if you are an unemployed Atlantic Canadian.

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This program is designed to support businesses in Atlantic Canada. The eligible areas for applying are determined by the local Self-Employment Benefit Coordinators within this region.

Newfoundland and Labrador
Prince Edward Island
Nova Scotia
New Brunswick

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$20,000

Establishing a bakery with artisanal bread products

$8,000

Launching an eco-friendly cleaning service

$10,000

Starting an online store for handcrafted jewelry in St John's

$16,000

Opening a fitness studio offering yoga and pilates classes

$16,000

Developing a mobile app for mental health support

$12,000

Starting an organic vegetable farm

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Eligibility for the Self-Employment Benefit Program is based on the applicant's employment status and readiness for self-employment.

The applicant must be unemployed and residing in Atlantic Canada.
The applicant must be receiving or have received Employment Insurance (EI) benefits within a specific timeframe.
The applicant must be deemed suitable for self-employment by a Self-Employment Benefit Coordinator through an initial assessment of strengths and needs.
The applicant must prepare a business plan demonstrating potential for success.

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The Self-Employment Benefit (SEB) Program is designed for unemployed Atlantic Canadians who are considering starting their own business. Ideal candidates for this program include:- Individuals currently receiving Employment Insurance (EI) benefits or those who have received such benefits within a certain timeframe.- Unemployed individuals with a viable business idea and potential to succeed in self-employment.Applicants will need to demonstrate their business plan's potential for success and go through an eligibility and evaluation process conducted by a local SEB Coordinator. The program supports entrepreneurial ventures through financial assistance, counselling, and technical advice during the initial start-up phase.

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Some types of companies may not be eligible for the Self-Employment Benefit (SEB) Program:

Companies that do not have a viable business plan.
Companies that do not demonstrate potential for success.

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The Self-Employment Benefit Program is designed to support unemployed individuals in Atlantic Canada who are pursuing self-employment. This program offers essential resources and financial support during the critical early stages of business establishment.

Provision of financial assistance equivalent to Employment Insurance benefits or a provincially established weekly allowance.
Offering of counselling services to aid in business planning and decision-making during the start-up phase.
Technical advice to help entrepreneurs address business challenges and enhance operational efficiency.
Preparation assistance for creating a business plan that demonstrates potential success.

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There are evaluation and selection criteria for the Self-Employment Benefit (SEB) Program:

Applications and business plans are evaluated based on provincially established program criteria.

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Step 1: Initial Meeting with the SEB Coordinator
- Contact the local Self-Employment Benefit Coordinator to schedule an initial meeting.
- Discuss your eligibility and explore if self-employment is a suitable option for you.
Step 2: Completing Application Form and Preparing Business Plan
- Fill out and submit the application form provided by the SEB Coordinator.
- Draft a comprehensive business plan that demonstrates potential for success.
- Follow any specific guidelines for the business plan as explained by the SEB Coordinator.
Step 3: Selection Process
- Have your application and business plan evaluated by a committee based on provincially established criteria.
- Receive notification from the SEB Coordinator regarding the decision on your application.

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Here are some additional pertinent details worth knowing for the Self-Employment Benefit (SEB) Program:

The SEB Program offers counselling and technical advice in addition to financial assistance.
Applicants need to demonstrate the viability and potential success of their business through their business plan.
Coordination with a local SEB Coordinator is crucial for determining eligibility and guiding the application process.
The program allows you to continue receiving Employment Insurance (EI) benefits until your claim ends if you were already receiving them.

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1-888-303-2232

Apply to this program

Empowering Entrepreneurs in Atlantic Canada

The Self-Employment Benefit Program plays a vital role in assisting unemployed Atlantic Canadians in transitioning into self-employment by providing financial assistance and business coaching. This program is a key resource for those looking to start their own business ventures with ongoing support throughout the initial stages of their journey.

Thorough Insights into the Self-Employment Benefit Program

The Self-Employment Benefit (SEB) Program is a transformative initiative targeting unemployed individuals in Atlantic Canada who aspire to launch their own businesses. By offering both financial assistance and strategic coaching, the program seeks to build a strong foundation for new entrepreneurs while simultaneously fostering economic growth in the region. Indeed, the SEB Program not only contributes to personal economic independence but also supports the broader socioeconomic fabric by stimulating innovation and job creation.

Eligible participants in this program are mainly those who have been receiving Employment Insurance (EI) benefits. For these individuals, the program ensures a seamless transition into self-employment by continuing their financial support at a provincially established rate until their business is sustainably operational. This continuity of income is crucial, helping participants to dedicate time and resources to developing their business plans without the immediate pressure of financial instability.

For those who are not currently receiving EI benefits, the SEB Program provides a weekly allowance, again at a provincially determined rate, which acts as a safety net to mitigate risks associated with starting a business from scratch. This financial backbone enables participants to focus on market research, product development, and business operations instead of worrying about basic living expenses.

Moreover, the SEB Program is not limited to financial aid. Participants benefit from counseling and technical advice, which are pivotal in transforming a nascent idea into a viable business venture. The role of the Self-Employment Benefit Coordinator is paramount here; they guide applicants through the eligibility process, the completion of application forms, and the preparation of a robust business plan. This plan must demonstrate a clear potential for success to secure program approval.

Selection for the program is competitive and contingent on a committee’s evaluation of the business plan against provincially set criteria. This process ensures that only the most promising and well-prepared entrepreneurial endeavors receive backing, thus optimizing the impact of the funding. Successful applicants, once approved, receive official confirmation and can then commence their participation in this supportive entrepreneurial ecosystem.

An integral aspect of the SEB Program is its partnership with the Community Business Development Corporations (CBDCs), supported by the Atlantic Canada Opportunities Agency. This collaboration enhances the depth and reach of services provided to budding entrepreneurs across the region, although it is essential to note that program offerings may vary slightly depending on the local CBDC's practices and resources.

In summary, the Self-Employment Benefit Program is a cornerstone of entrepreneurial support in Atlantic Canada, aimed at mobilizing unemployed individuals into meaningful, self-sustaining employment through self-employment. By offering a combination of financial support and business mentorship, it provides a springboard for new businesses to launch and thrive, contributing positively to both local economies and the lives of participants. For those contemplating entrepreneurship, the SEB Program represents a promising opportunity to gain not only funding but also invaluable guidance to ensure the long-term success of their business endeavors.