How much funding can be received?

Funds up to 25% of admissible expenses, capped at $25000 per project.

What is the deadline to apply?

The program is accepting continuous intake

Who are the financial supporters of the Îles-de-la-madeleine — Business support policy (PSE)?

Îles-de-la-madeleine — Business support policy (PSE) is funded by Municipalité des Îles-de-la-Madeleine

What are Îles-de-la-madeleine — Business support policy (PSE)'s eligibility criterias?

For-profit businesses legally constituted in Quebec and Canada Business must be located in Îles-de-la-Madeleine Excludes financial sector businesses and those on the Registre des entreprises non admissibles aux contrats publics

Îles-de-la-madeleine — Business support policy (PSE)

Last Update: May 23, 2025

QC, Canada

Financial support for business startups, succession, and expansion

Îles-de-la-madeleine — Business support policy (PSE) at a glance

Eligible Funding

Max. $25,000
Up to 25% of project cost

Timeline

Open Date : January 1, 2025
Closing date : January 31, 2025

Financing Type

Grant and Funding

Tax Credits

Expert Advice

Loans and Capital investments

Eligible Industries

All industries

Grant Providers

Municipalité des Îles-de-la-Madeleine

Status

Closed

Overview of the Îles-de-la-madeleine — Business support policy (PSE) program

The Îles-de-la-Madeleine Business Support Policy (PSE) offers non-repayable contributions of up to $25,000 per project to support business start-ups, succession, and economic expansion or diversification initiatives. Eligible activities include business creation, succession planning, acquisition of assets, innovation, and projects promoting sustainable economic growth in the region.

Financing terms and conditions

For private enterprises: Non-repayable contribution of up to the lesser of $25,000 per company or 25% of eligible project costs.
For social economy enterprises: Non-repayable contribution of up to the lesser of $25,000 per company or 50% of eligible project costs.
A minimum of 20% of the total project cost must be provided by the applicant as a cash or in-kind contribution that is debt-free and essential to the project.
The cumulative total of all government assistance, including this program, cannot exceed 80% of the project cost.

Eligible projects & activities

Creation or acquisition of a business (startups or business succession).
Business expansion projects, including access to new markets or increasing production capacity.
Initiatives for economic diversification to strengthen the territory's economic base.
Innovation and technology adoption projects (such as integration of digital tools or new processes).
Development projects by social economy enterprises that generate sustainable economic activity and employment.

Examples of admissible projects:

$ 24,000

Launching a zero-waste grocery with local product sourcing

$ 22,000

Succession and modernization of an island-based bakery operation

$ 24,000

Adoption of digital booking for adventure tourism expansion

$ 24,700

Acquisition of new CNC equipment for wood furniture business

$ 21,000

Feasibility study for kelp-based food processing diversification

Eligibility criteria of the Îles-de-la-madeleine — Business support policy (PSE) program

The business must be legally established under Quebec and Canadian law and registered with the Registraire des entreprises du Québec.
The head office or primary place of business must be located within the territory of the Communauté maritime des Îles-de-la-Madeleine.
The applicant must be a private business, a social economy enterprise, or a cooperative (excluding financial cooperatives).
The applicant and project must not be associated with discriminating, controversial, or high-risk activities for the community or its partners, and must not have a sexual, religious, or political character.
The company and its representatives must have respected their obligations regarding prior financial aid from government sources for at least two years preceding the application.

Who is eligible?

Entrepreneurs and individuals seeking to start or acquire a business
Private businesses (excluding those in the financial sector)
Social economy enterprises
Cooperatives (excluding financial cooperatives)

Who is not eligible

Private companies in the financial sector.
Businesses listed in the Register of Enterprises Ineligible for Public Contracts (Registre des entreprises non admissibles aux contrats publics).
Companies that, in the past two years, have failed to meet their financial obligations linked to previous government aid without just cause.
Financial cooperatives.
Businesses or projects with a sexual, religious, or political nature, or that may present reputational risks or controversy for the community or its partners.
Companies operating in personal care services (e.g., hair salons, esthetics, massage therapy, and related services).
Traditional liberal professions subject to professional orders (e.g., law firms, notaries, accounting firms, medical or dental clinics, and related services).
Projects involving the acquisition of fishing licenses.
Real estate and housing projects (residential and commercial), except for tourist accommodation projects as defined by local regulations.
Projects in retail or restaurant sectors, unless they provide an essential local service used daily by a significant portion of the local population.

Eligible expenses

Working capital needs strictly related to the company's operations for the first year, supported by a cash budget.
Capital expenses such as purchase of land, buildings, equipment, machinery, rolling stock, incorporation fees, and similar expenses (excluding goodwill).
Acquisition of technologies, software, applications, patents, and similar items.
Professional fees for preparing financial forecasts for the business plan.
Professional fees for feasibility studies necessary for the project.
Expenses for acquiring shares or assets as part of a business succession, including professional service fees directly related to the transaction.
Professional fees, expertise, and consultant costs required for studies intrinsic to an expansion or diversification project. Professionals must be external and independent from the company.
Costs for equipment directly related to the project.
Costs for materials and inventory directly related to the project.

Eligible geographic areas

Companies with their head office or principal place of business located on the territory of the Communauté maritime des Îles-de-la-Madeleine.

Eligibility criteria of the Îles-de-la-madeleine — Business support policy (PSE) program

Alignment with the orientations of the Horizon 2025 territorial project.
Growth potential in the targeted sector or market.
Assessment of competition within the relevant sectors.
Management and operational capacity of the project leader.
Financial structure, including financial ratios and forecasts, and identification of operational risks.
Impact on employment creation and economic activity.
Quality and innovative potential of the project.

How to apply to the Îles-de-la-madeleine — Business support policy (PSE) program

Confirm project and eligibility

Identify your business project or succession needs
Ensure your project aligns with the eligible categories (startup, business succession, expansion, economic diversification)
Verify your business and promoter eligibility criteria

Prepare application documents

Fill out the application form available on the Municipality of Îles-de-la-Madeleine website
Prepare a detailed business plan or succession plan
Include 3-year financial forecasts

Gather supporting documents

Gather the required supporting documents such as:
Financial statements from the past 3 years (or more if deficits occurred)
Promoter's CV
Letters patent of the legal entity
Resolution from shareholders or board authorizing the application

Submit the application

Submit your completed application and all required documents to the Communauté maritime des Îles-de-la-Madeleine
Deposit before the announced deadline for the relevant round

Application review and follow-up

Wait for the analysis by the evaluation committee (reviewed 4 times per year)
Be available for clarification or to provide additional information if requested

Sign agreement and fulfill conditions

If selected, sign the agreement protocol with the municipality
Fulfill any pre-disbursement conditions (e.g. obtaining permits, finalizing financing)

Additional information

The analysis committee meets at least four times per year to review applications, depending on fund availability.
If an application file remains inactive for six months, it may be closed by the authorities.
Only one project per beneficiary is eligible for funding per management year of the Fund.
All supported projects require a signed agreement specifying responsibilities and data collection obligations.