First Peoples Economic Growth Fund – Business Plan Assistance
MN, Canada
Funding for Manitoba First Nation business planning
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- grant_single|timelineUnspecified
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Grant and Funding
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- First Peoples Economic Growth Fund Inc. (FPEGF)
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Get up to $20,000 to cover up to 75% of the costs associated with hiring a professional consultant to assist in the research and development of a quality business plan that you can use to attract financing.
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This grant is specifically available to First Nation individuals or enterprises with a headquarters in a designated area. Eligibility is confined to ensure that the program supports regional development aligned with the mandates of the funding organization.
- Headquarters must be located in Manitoba, Canada.
grant_single|admissibleProjectsExample
$16,500
Hire a consultant for a feasibility study for a social enterprise café
$18,000
Consultancy to develop a new sustainable fashion line business plan
$18,000
Hire a consultant to improve planning for a non-profit art centre
$19,500
Engage a consultant for developing a scalable e-commerce platform business plan
$20,000
Develop a business plan for a community-run renewable energy project
$18,000
Develop a business plan for a zero-waste grocery cooperative
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's identity and the proposed project's readiness.
- Applicants must be a member of a First Nation, with a headquarter location in Manitoba.
- Applicants must be aged 18 and over, and eligible to work in Canada.
- Applicants must submit an application describing the business for which they wish to develop a business plan.
- Applicants must not have owned a similar business in the past 12 months.
- Applicants must provide the name and qualifications of the proposed consultant, proposed terms of reference and a written proposal, including a quote.
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First Nation individuals or First Nation-based enterprises headquartered in Manitoba, Canada, who meet specific conditions stated in the eligibility criteria.
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Some types of companies are not eligible for this grant:
- Non-First Nation individuals or enterprises
- Individuals under 18 years old
- Individuals not eligible to work in Canada
- Those who have owned a similar business in the past 12 months
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The Business Plan Assistance program offers support for the research and development of business plans for First Nation individuals or enterprises. Eligible initiatives involve engaging professional consultants to assist in crafting comprehensive plans aimed at attracting financing.
- Engaging professional consultants for business plan development.
- Conducting research to support the business planning process.
- Developing marketing strategies as part of the business plan.
- Analyzing industry overviews as part of the business plan framework.
- Outlining management experience and staffing in the business plan.
- Estimating project costs and financing requirements in the business plan.
grant_eligibility_criteria|zone
The grant is intended to assist with expenses related to hiring a consultant for developing a professional business plan.
- Consultant fees for professional assistance in business plan development.
- Research and analysis costs incurred during the business plan preparation.
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The Business Plan Assistance program has specific evaluation and selection criteria to assess the merit and feasibility of the proposed business projects.
- Business concept feasibility
- Opportunity for economic impact in the community
- Potential for sustainable growth
- Clarity of marketing strategy
- Experience and capability of management team
- Comprehensive financial plan and project costing
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Here are the steps to submit an application for this grant:
- Step 1: Application Preparation
- Draft a detailed business concept summary including business overview, industry overview, marketing strategy, management experience, staffing, estimated project costs, and financing.
- Research and select a professional consultant to aid in preparing the business plan.
- Obtain three competitive quotes from professional consultants.
- Step 2: Application Submission
- Complete the application form detailing the business for which the plan is being developed.
- Attach the business concept summary to the application.
- Provide the name and qualifications of the selected consultant and a quote.
- Submit the application with all required documents to the funding body for approval before beginning work with the consultant.
- Step 3: Confirmation and Approval
- Await confirmation and approval of funding from the funding body prior to starting the business plan development.
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Here are additional relevant details for this grant:
- The program is administered by the First Peoples Economic Growth Fund (FPEGF), which is dedicated to supporting the economic development of First Nations in Manitoba.
- Applicants are recommended to obtain three competitive quotes from consultants to ensure a fair selection process.
- Funding approval must be obtained before any consultant can commence work on the business plan.
Apply to this program
Empowering First Nation Entrepreneurs in Manitoba
This grant provides vital financial assistance to First Nation individuals in Manitoba for developing professional business plans. It aims to support the creation of sustainable business ventures by offering up to 75% funding for consultancy services.
In-Depth Insight into the Business Plan Assistance Grant
The Business Plan Assistance grant is a strategic initiative focused on fostering entrepreneurship within First Nation communities in Manitoba. Recognizing the significant role of small businesses in economic development, this grant seeks to empower aspiring entrepreneurs by addressing the critical need for professionally crafted business plans. This initiative is particularly aimed at First Nation individuals or enterprises that possess a promising business concept but lack the necessary financial resources to transition from idea to execution.
By covering up to 75% of the costs associated with hiring a professional consultant, to a maximum of $20,000, the grant eases the financial burden on applicants who are required to contribute the remaining 25%. A key aspect of this program is its non-repayable nature, allowing recipients to focus on maximizing their creative and operational efficiencies without the immediate pressure of financial return.
The support provided through this grant is pivotal in transforming business concepts into viable ventures capable of attracting additional financing and investment. By enabling the engagement of expert consultants, First Nation entrepreneurs gain access to invaluable insights and tools necessary for crafting high-quality business plans. This, in turn, increases the likelihood of securing further financial backing, thus catalyzing the potential for business success and sustainability.
Applicants must clearly communicate their business concept through a detailed summary that encompasses various essential elements, including comprehensive business and industry overviews, a robust marketing strategy, and an analysis of management experience and staffing requirements. Additionally, an outline of the estimated project costs and financing roadmap is required to support the viability of the proposed business.
Eligibility for this grant is reserved for First Nation members aged 18 and over who are based in Manitoba, ensuring that the program directly supports the indigenous community. The stipulation that applicants must not have owned a similar business within the past 12 months is designed to cultivate fresh business talent and ideas, fostering a renewal of entrepreneurial spirit among the First Nation population.
Furthermore, the grant emphasizes the importance of integrity and transparency in the proposal process. Applicants are encouraged to submit competitive quotes from at least three potential consultants to ensure fair and best-value selection. As such, the grant not only fuels individual business pursuits but also promotes economic prudency and strategic consultant engagement.
In summary, the Business Plan Assistance grant serves as a catalyst for economic empowerment among First Nation communities, providing essential support for the ideation and launch of new business ventures. This initiative acknowledges the challenges faced by aspiring entrepreneurs in accessing professional development resources and addresses these through a structured, financially supported framework that prioritizes community growth and sustainable economic development.
