CBDC Self Employment Benefit Program
NS, Canada
Financing for unemployed Atlantic entrepreneurs to start a business
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Expert Advice
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Community Business Development Corporations (CBDC)
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grant_card_status|open
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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.
grant_single_labels|terms_and_conditions
This grant offers essential financial support to encourage entrepreneurship among eligible unemployed individuals in Atlantic Canada. Various financial modalities are designed to aid new business ventures during their critical startup phase.
- Continued receipt of Employment Insurance (EI) benefits until the end of the claim, with added support at provincially established rates for the remainder of the program duration.
- If not receiving EI benefits, recipients are provided with a weekly allowance at a provincially determined rate.
grant_single_labels|projects
The Self-Employment Benefit (SEB) Program aids unemployed individuals in Atlantic Canada aiming to start their own business by offering financial assistance, counselling, and technical advice. Eligible projects and activities are those that support the successful planning and launch of self-employment ventures.
- Development and implementation of a viable business plan.
- Engagement in activities that build entrepreneurial skills.
- Acquisition of necessary permits or licenses to start a business.
- Market research and analysis to validate business ideas.
- Financial planning and budget management for start-up phases.
grant_single|admissibleProjectsExample
$ 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
grant_single_labels|admissibility
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.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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.
grant_eligibility_criteria|eligible_expenses
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.
grant_eligibility_criteria|zone
The CBDC Self-Employment Benefit Program is provided to eligible unemployed individuals located in the Atlantic region of Canada. The program aims to support new entrepreneurs in these areas.
- New Brunswick
- Newfoundland and Labrador
- Nova Scotia
- Prince Edward Island
grant_single_labels|criteria
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.
grant_single_labels|register
- 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.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
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.
