PME MTL – Young Business
Montréal, QC, Canada
Subsidy for young businesses in Montreal
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- grant_single|openingDateNovember 14, 2019
- grant_single|closingDateMay 03, 2024
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Grant and Funding
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- PME MTL
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Get up to $15,000 to help with your start-up and growth.
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Every application is studied by the joint investment committee (CIC) of the hub concerned to determine the entrepreneur's qualifications and the viability of the proposal in light of the fund's objectives and requirements.
- Equipment purchases
- Leasehold improvements
- Marketing expenses
- Working capital fund
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$15,000
Vancouver
Purchase of advanced coffee roasting equipment to expand local cafe services
$14,000
Toronto
Renovation of community theater for hosting cultural events
$15,000
Vancouver
Renovate an existing warehouse to create a co-working space
$15,000
Toronto
Purchase eco-friendly equipment for a new community garden
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Eligibility criteria for the Fonds Jeunes Entreprises:
- Launch a legally constituted business listed in the Registre d’entreprises du Québec (REQ)
- Have your business and your head office in Montréal
- Operate a company that has been in existence for less than five years
- Submit a business plan showing its profitability and viability
- Commit to working full-time in the business (at least 35 hours per week)
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Eligible types of companies for the Fonds Jeunes Entreprises grant include:
- Legally constituted businesses listed in the Registre d’entreprises du Québec (REQ)
- Businesses with their headquarters in Montréal
- Companies in existence for less than five years
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- Businesses not in Montreal
- Unregistered businesses
- Operations over 5 years old
- Part-time engagement in business
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Equipment purchases
- Leasehold improvements
- Marketing expenses
- Working capital fund
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Montreal
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The evaluation and selection criteria for the Fonds Jeunes Entreprises grant are as follows:
- Launch a legally constituted business listed in the Registre d’entreprises du Québec (REQ)
- Have your business and your head office in Montréal
- Operate a company that has been in existence for less than five years
- Submit a business plan showing its profitability and viability
- Commit to working full-time in the business (at least 35 hours per week)
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- Step 1: Confirm that your business meets the eligibility criteria
- Ensure your business is legally constituted and listed in the Registre d’entreprises du Québec
- Have your business and head office located in Montréal
- Operate a company that has been in existence for less than five years
- Prepare a business plan demonstrating profitability and viability
- Commit to working full-time in the business (at least 35 hours per week)
- Step 2: Prepare and submit your application
- Gather all necessary documentation including financial statements, business plan, and proof of eligibility
- Apply for a loan from the Fonds PME MTL if you haven't already
- Submit your application with the required information and supporting documents
- Step 3: Await the review process
- Your application will be reviewed by the joint investment committee (CIC) of the hub
- The committee will assess your qualifications and the viability of your proposal
- Decisions will be based on the fund's objectives and requirements
- Step 4: Receive a decision
- If approved, you may receive a non-repayable financial contribution of up to $15,000
- You can use the funds for eligible expenses such as equipment purchases, marketing, and working capital
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The grant offers substantial financial support for start-ups, particularly targeting new businesses on Montréal Island. It emphasizes the importance of having a viable business plan and a commitment to full-time work in the business.
- The subsidy must be combined with a loan from the Fonds PME MTL.
- Eligible businesses must be listed in the Registre d’entreprises du Québec (REQ).
- Financial assistance is in the form of a non-repayable contribution of up to $15,000.
- Examples of eligible expenses include equipment purchases, leasehold improvements, marketing expenses, and working capital fund.
- All applications are reviewed by the joint investment committee (CIC) of the respective hub to ensure they meet the fund's requirements and objectives.
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info@pmemtl.com
Apply to this program
Summary of the Fonds Jeunes Entreprises Grant
The Fonds Jeunes Entreprises grants offer financial assistance up to $15,000 to start-ups and young businesses on Montréal Island to help with start-up costs and growth. To be eligible, businesses must be legally constituted, located in Montréal, and have been in operation for less than five years.
In-depth Exploration of the Fonds Jeunes Entreprises Grant
The Fonds Jeunes Entreprises provides critical financial support to emerging businesses to help them thrive during their early stages of development. Below, we will cover everything from the eligibility criteria and application process, to the advantages and potential impacts of receiving this grant.
What is the Fonds Jeunes Entreprises Grant?
The Fonds Jeunes Entreprises is an initiative designed to support young and promising businesses within the Montréal Island region. This grant is structured to provide financial assistance that is non-repayable, meaning that eligible businesses can receive support without the obligation to pay it back, thus easing the financial burden on start-ups and allowing them to invest more freely in their growth and operations.
Eligibility Criteria
To qualify for this grant, businesses must meet several specific criteria:
- The business must be legally constituted and listed in the Registre des entreprises du Québec (REQ).
- The business and its head office must be located on Montréal Island.
- The business must have been in operation for less than five years.
- The entrepreneur must submit a business plan that demonstrates the profitability and viability of the business.
- The entrepreneur must commit to working full-time in the business, which is defined as at least 35 hours per week.
These criteria ensure that the funds are directed toward businesses with solid foundations and the potential for sustainable growth.
Financial Assistance and Its Uses
The grant offers up to $15,000 in financial assistance, which can be used for various purposes:
- Equipment purchases: This might include machinery, computers, or any other tools essential for the operation of the business.
- Leasehold improvements: Funding can help cover the costs of modifying or upgrading rented commercial spaces to better suit business needs.
- Marketing expenses: This covers advertising campaigns, social media marketing, branding, market research, and other promotional activities.
- Working capital fund: This reserve can help manage day-to-day operations, cash flow challenges, and other unforeseen expenses.
By covering these critical areas, the grant provides a broad spectrum of support, addressing some of the most significant cost areas for young businesses.
Application Process
The application process for the Fonds Jeunes Entreprises is designed to be thorough yet supportive. Here are the steps involved:
- Prepare a comprehensive business plan: This plan should detail the business model, market analysis, financial projections, and strategic roadmaps to demonstrate the business’s potential for profitability and viability.
- Ensure compliance with eligibility criteria: Verify that all eligibility requirements are met before applying. This includes legal constitution, location in Montréal, and the age of the business.
- Submit the application: Applications are reviewed by the joint investment committee (CIC) of the relevant hub. This committee evaluates the entrepreneur’s qualifications and the viability of the proposal.
The detailed evaluation by the CIC ensures that only the most promising and viable businesses receive funding, aligning with the fund’s objective of fostering sustainable growth.
Impacts and Advantages of Receiving the Grant
Receiving the Fonds Jeunes Entreprises grant can have profound impacts on a young business, including:
- Financial stability: The non-repayable nature of the grant allows businesses to invest without future financial burdens, fostering a more stable and less stressful financial environment.
- Growth acceleration: With initial start-up costs covered, businesses can focus more on growth strategies such as expanding their market reach and improving product offerings.
- Improved competitiveness: Financial assistance with marketing and equipment purchases can significantly enhance a business's competitiveness, helping it stand out in the market.
Additionally, the focused support on specific cost areas like marketing and equipment ensures that businesses can address critical needs that directly contribute to their ability to compete and grow effectively.
Conclusion
The Fonds Jeunes Entreprises grant represents a vital lifeline for start-ups and young businesses on Montréal Island. It not only provides essential financial support but also strategically targets key cost areas that drive growth and sustainability. By adhering to the eligibility criteria and preparing a robust business plan, young entrepreneurs can leverage this grant to transform their business vision into a successful reality. Whether it's purchasing crucial equipment, improving business premises, or launching impactful marketing campaigns, the Fonds Jeunes Entreprises grant is instrumental in turning fledgling businesses into profitable and thriving enterprises.