First Peoples Economic Growth Fund – Business Contribution Fund
MN, Canada
Financial support for Manitoba First Nation businesses
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
- Retail trade
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- First Peoples Economic Growth Fund Inc. (FPEGF)
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grant_card_status|open
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Get a non-repayable contribution of up to 30% of eligible costs for start-up, expansion or acquisition of a business that is majority Manitoba First Nation-owned.
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This grant supports eligible First Nations businesses in Manitoba for a variety of activities aimed at start-up, expansion, or acquisition of viable enterprises. Several specific activities are eligible for non-repayable contributions to support business development and sustainability.
- Start-up of a new business owned by a First Nation individual or group.
- Expansion of an existing First Nations-owned business.
- Acquisition of a viable business with required historical financial statements and independent Business Valuation.
- Development of an independent business plan with up to 75% of costs covered.
- Conducting necessary environmental assessments with up to 75% of costs covered.
- Marketing initiatives with up to 60% of costs covered.
- Business support activities including training and aftercare management with up to 75% of costs covered.
grant_single|admissibleProjectsExample
$28,200
Brandon
Expanding a software development company specializing in education technology
$21,000
Thompson
Expanding a First Nation-owned eco-tourism business
$21,000
Winnipeg
Opening a sustainable café focusing on local produce and zero-waste
$13,500
Thompson
Launching a First Nation artisan crafts store
$24,000
Churchill
Starting a fish-farming business with eco-friendly practices
$29,700
The Pas
Acquiring an existing eco-lodge and transitioning it to renewable energy
grant_single_labels|admissibility
To be eligible for the Business Contribution Fund, the following criteria must be met:
- You must have a minimum of 10% cash equity to put into the business.
- A minimum of 40% commercial loan is required as part of the total financing of the business.
- The business must be at least 51% owned by a First Nation band or First Nation band member or group of First Nations.
- First Nation members and communities outside of Manitoba will remain eligible if the business headquarters are located in Manitoba.
- If it is a partnership, the business must be at least 51% First Nation owned and the contribution will be in proportion to the First Nation’s ownership.
- The First Nation owner or partner must be an integral part of the business.
- The business must show viability and management capacity through the submission of a business plan.
- The non-repayable contribution will not support businesses such as bars, gambling, sexually exploitive, pawn shops, payday loans, tobacco shops, etc.
- It cannot be a passive investment (real estate, apartment block, a business that someone else is managing).
- The contribution will not support a business that will significantly harm another business.
grant_eligibility_criteria|who_can_apply
This program, the Business Contribution Fund, supports various First Nations businesses in Manitoba, focusing on start-ups, expansions, or acquisitions. Although specific industries are not mentioned, some exclusions are noted to guide eligible company types.
- The business must not be involved in bars, gambling, sexually exploitive industries, pawn shops, payday loans, or tobacco shops.
- It cannot be a passive investment like real estate or a business managed by someone else.
- The business should not significantly harm another existing business.
grant_eligibility_criteria|who_cannot_apply
There are specific restrictions related to the types of companies or industries that are not eligible for the Business Contribution Fund. The grant does not support certain types of businesses or activities.
- Bars
- Gambling (VLTs)
- Sexually exploitive businesses
- Pawn shops
- Payday loans
- Tobacco shops
- Passive investments (such as real estate or apartment blocks)
- Businesses that significantly harm another business (e.g., a second laundromat in a small town that cannot support two)
grant_eligibility_criteria|eligible_expenses
The Business Contribution Fund provides financial assistance for specific eligible expenses related to the startup, expansion, or acquisition of a business.
- Capital and operating expenses
- Independent business plan development (up to 75% of costs)
- Environmental assessments (up to 75% of costs)
- Marketing costs (up to 60% of costs)
- Business support, such as training and aftercare management (up to 75% of costs)
- Business Valuation costs, required for acquisitions (up to 75% of costs)
grant_eligibility_criteria|zone
Eligible businesses are those headquartered in Manitoba or at least partially owned by First Nations communities or members from Manitoba. First Nation members and communities outside of Manitoba remain eligible if the business headquarters are located in Manitoba.
- Manitoba, Canada
- First Nations communities outside Manitoba with business headquarters in Manitoba
grant_single_labels|criteria
The evaluation and selection criteria for the Business Contribution Fund include financial viability, ownership requirements, equity contribution, business plan quality, and business impact.
- Financial Viability: The business must demonstrate financial viability and management capacity through the submission of a comprehensive business plan.
- Ownership Requirements: The business must be at least 51% owned by a First Nation individual or Manitoba First Nation Community.
- Equity Contribution: Applicants must have a minimum of 10% cash equity to invest in the business.
- Business Plan Quality: FPEGF will consider providing a non-repayable contribution towards the development of an independent business plan, which is a key evaluation criterion.
- Business Impact: The business must show potential to contribute positively to the community and not significantly harm other businesses in the area.
grant_single_labels|register
Step 1: Determine Eligibility
- Verify ownership requirements (at least 51% First Nation ownership).
- Ensure business is located in Manitoba if owned by First Nation members outside Manitoba.
- Check if business meets the viability and management capacity criteria.
- Assess whether the business is not involved in excluded activities such as bars, gambling, pawn shops, etc.
- Confirm the requirement of 10% cash equity and 40% commercial loan financing.
- Ensure compliance with active business operation criteria (i.e., not a passive investment).
Step 2: Gather Necessary Documentation
- Prepare a comprehensive business plan showcasing viability and management capacity.
- Obtain three years of historical financial statements if applying for business acquisition.
- Arrange for an independent Business Valuation by a Certified Business Valuator if needed.
Step 3: Prepare the Application
- Compile all required documents, including business plans and financial statements.
- Ensure all information aligns with the application requirements set by FPEGF.
Step 4: Submit the Application
- Complete the application form provided by FPEGF.
- Submit the application and all supporting documents to FPEGF.
- Use designated contact methods for submission: toll-free numbers or the provided email address.
Step 5: Await Review and Feedback
- Monitor communication from FPEGF for any additional information requests or updates on the application status.
- Prepare to address any inquiries or provide clarifications if FPEGF requires further information.
Step 6: Post-Approval Compliance and Monitoring
- Submit financial statements and Business Performance Reviews as required during the control period.
- Ensure the business remains operational and compliant with the conditions set by FPEGF.
grant_single_labels|otherInfo
In addition to eligibility criteria and other specified details, it is important for applicants of the Business Contribution Fund to understand the following:
- There is a control period typically lasting three years during which financial statements and a “Business Performance Review” must be submitted.
- If the business ceases operation or changes significantly during the control period, the non-repayable contribution may become repayable.
- FPEGF can provide up to 75% of certain costs like Business Valuation and business plan development, demonstrating the fund's commitment to supporting initial business setup requirements.
- The program is supported by Indigenous Services Canada (ISC) through the National Aboriginal Capital Corporation Association (NACCA).
grant_single_labels|contact
info@fpegf.ca
1-888-942-6026
Apply to this program
Business Contribution Fund for First Nations in Manitoba
The Business Contribution Fund provides non-repayable financial support to eligible First Nations businesses in Manitoba, assisting in startup, expansion, or acquisition with contributions up to 40% of eligible costs. This initiative aims to bolster community-led economic growth by supporting viable business ventures owned or controlled by First Nations members or groups.
Comprehensive Guide to the Business Contribution Fund
The Business Contribution Fund (BCF) represents a notable opportunity for First Nations entrepreneurs and businesses in Manitoba aiming to launch new ventures, expand existing operations, or acquire established businesses. By offering non-repayable contributions covering a significant portion of eligible costs, BCF plays a critical role in fostering economic development within First Nations communities, enhancing economic independence and sustainability. Understanding the intricacies of this financial support can prove invaluable for eligible applicants looking to leverage this grant to its fullest potential.
At its core, the Business Contribution Fund seeks to encourage entrepreneurial activity by providing up to 40% of the eligible business costs to a maximum of $99,999 for businesses owned by a First Nation individual. For businesses owned by a Manitoba First Nation or a collective of First Nations, the cap increases to $250,000. This substantial financial backing can significantly alleviate the initial financial burdens faced by entrepreneurs, enabling them to focus more on innovation, growth, and other strategic activities. Applicants aiming to benefit from the fund must ensure their business aligns with several specific requirements, such as being at least 51% owned by a First Nation band or member and demonstrating viability through a robust business plan.
The Fund features further flexibility to support different stages and aspects of business development. In instances where a business acquisition is pursued, BCF assists with the cost of obtaining essential documentation such as a Business Valuation, crucial for determining the business's fair market value. Up to 75% of the Business Valuation cost is covered, ensuring applicants are better prepared for negotiations and decision-making. This support ensures that businesses make informed choices, potentially streamlining the acquisition process and leading towards a successful business transition.
Moreover, applicants can access additional support for various business essential services and needs. For example, the Fund can cover up to 75% of business plan development costs, vital for structuring and articulating a clear vision and strategy. Environmental assessments, which are often necessary for specific industries to comply with regulatory requirements, can also be supported up to 75%. This assistance underscores the Fund's commitment to supporting sustainable and responsible business practices from the outset.
Marketing, often a critical component in growing a business's presence and market share, is not overlooked. The Business Contribution Fund offers to contribute up to 60% towards marketing efforts, facilitating more effective outreach and engagement strategies. This aspect of funding enables businesses to better position themselves in competitive markets, reaching broader audiences and expanding customer bases.
In addition to these structural financial supports, FPEGF also encourages the personal and professional development of business owners and their teams. Up to 75% support is available for business-related training and management aftercare, aiming to bolster management capacity and strategic expertise critical to running a successful enterprise. This emphasis on capacity building ensures that First Nations businesses are equipped with the necessary skills and knowledge to thrive long-term in a dynamic economic landscape.
However, there are specified exclusions, as the non-repayable contribution does not extend to businesses in certain sectors deemed non-viable or detrimental to community interests, such as bars, gambling, and others identified as potentially harmful. Additionally, passive investments and ventures that could negatively impact existing local businesses are also excluded, ensuring that BCF aligns with the community’s broader economic goals and sustainability.
Crucially, the Business Contribution Fund mandates a control period, generally spanning three years, to ascertain that the funded business remains operational and intact during this time. Regular submission of financial statements and a “Business Performance Review” ensures transparency and accountability. Should any significant changes occur—such as alterations in ownership structure or key asset sales during this period—a reevaluation of the non-repayable contribution may be imposed, potentially converting it into a repayable amount.
Funded by Indigenous Services Canada through its partnership with the National Aboriginal Capital Corporation Association (NACCA), the Business Contribution Fund reflects a broader commitment to empowering First Nations communities economically, fostering self-sufficiency, and encouraging innovation. First Nations entrepreneurs in Manitoba should consider this fund a significant resource in their entrepreneurial arsenal, providing not just financial backing but also structural support to help transform visions into reality.