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
1
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
2
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
3
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
4
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
5
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
6
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.
Contact Municipalité des Îles-de-la-Madeleine
deconomique@muniles.ca
4189863100