Self-Employ PEI
PE, Canada
Support for Prince Edward Island (PEI) entrepreneurs
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|timelineUnspecified
grant_single|financingType
Grant and Funding
Expert Advice
grant_single|eligibleIndustries
- Manufacturing
- Retail trade
- Information and cultural industries
- Accommodation and food services
grant_single|grantors
- Government of Prince Edward Island
- Skills PEI
grant_single|status
grant_card_status|open
grant_single_labels|preview
Job seekers who want to launch their own businesses may apply to receive a weekly allowance or employment insurance (EI) benefits, or combination of both.
grant_single_labels|terms_and_conditions
This grant provides financial support to new entrepreneurs to aid them during their first year of business operation. The financing modalities are designed to ensure the entrepreneur receives necessary financial assistance and guidance.
- Weekly living allowance or combination of Employment Insurance (EI) benefits during the first year in business.
- Potential eligibility for a $1,000 consulting grant.
grant_single_labels|projects
The eligible projects for the Self Employ PEI grant focus on assisting new entrepreneurs in Prince Edward Island establish businesses that showcase long-term viability across various sectors. These projects can vary widely, as long as they demonstrate potential for sustainable operations.
- Manufacturing businesses providing goods and services.
- Food and beverage industry initiatives.
- Information technology businesses, including software development and IT services.
- Trades businesses such as construction or electrical services.
- Retail businesses delivering unique products to the market.
grant_single|admissibleProjectsExample
$ 75,000
Starting a social enterprise repurposing electronic waste into educational kits
$ 70,000
Establishing a sustainable bakery specializing in organic breads and pastries
$ 85,000
Establishing a microbrewery focused on local, organic ingredients
$ 60,000
Creating a repair and refurbish service for electronics, focusing on smartphones
$ 110,000
Launching a mobile app development company focusing on health and wellness
$ 80,000
Opening a cooperative retail store selling locally crafted goods
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the applicant's employment status and history with Employment Insurance.
- You must be unemployed and seeking full-time employment.
- You must be legally authorized to work in Canada as a Canadian citizen or permanent resident.
- You must either have a current claim for Employment Insurance benefits or have had an EI claim whose benefit period ended within the previous 60 months.
- An unemployed person who paid, in at least 5 of the last 10 years, employee's premiums that did not entitle them for a refund is eligible (meaning if the person made less than $2000 in earnings in a year, any EI premiums that they would have paid would be reimbursed).
- You must not have started the operation of your new business prior to program approval.
grant_eligibility_criteria|who_can_apply
Individuals eligible for the Self Employ PEI program must be unemployed and seeking full-time employment. They need to be legally able to work in Canada, specifically as Canadian citizens or permanent residents. Applicants must have a current Employment Insurance (EI) claim, a previous claim that ended within the last 60 months, or must have paid EI premiums for at least 5 out of the last 10 years without being refunded for those payments. It's crucial that applicants have not commenced their business activities before receiving program approval.
grant_eligibility_criteria|who_cannot_apply
Some types of companies may not be eligible for this grant due to specific criteria. Eligibility restrictions may include:
- Financial institutions
- Gambling establishments
- Non-profit organizations
grant_eligibility_criteria|eligible_expenses
The Self Employ PEI program supports a wide range of business types that demonstrate potential for long-term viability. Eligible activities encompass a variety of industry sectors and are tailored to new business ventures.
- Manufacturing
- Food and beverage
- Information technology
- Trades
- Retail
grant_eligibility_criteria|zone
This program is geographically focused on Prince Edward Island, as evidenced by the contact details and offices located across the island.
- Charlottetown
- Summerside
- Montague
- West Prince (Woodstock)
grant_single_labels|criteria
There are evaluation and selection criteria for this grant.
- Evaluation Criteria 1: Innovation and Impact
- Evaluation Criteria 2: Project Feasibility
- Evaluation Criteria 3: Organizational Capacity
- Selection Criteria 1: Alignment with Grant Objectives
- Selection Criteria 2: Clear and Realistic Budget
grant_single_labels|register
Here are the steps to submit an application for the Self Employ PEI program:
- Step 1: Attend Information Session
- Register for an information session on the Self Employ PEI program using the registration button provided on the website.
- Ensure you receive a Microsoft Teams invitation for the session by the end of Thursday prior to your scheduled session.
- Participate in the session conducted remotely via Microsoft Teams every Friday from 10 am to 11 am.
- Step 2: Meet with a Program Officer/Case Manager
- After the information session, schedule a meeting with a Program Officer/Case Manager.
- Complete a needs assessment and develop a Return to Work Action Plan during the meeting.
- Step 3: Preparing Your Application
- Fill out the Self Employ Suitability Assessment questionnaire.
- Complete the Self Employ PEI Application for Funding form.
- Prepare a detailed business plan demonstrating potential for long-term viability.
- Gather proof of investment or financing.
- Prepare and update your resume.
- Step 4: Submit Application
- Submit the entire application package including the business plan and proof of financing to SkillsPEI.
- Ensure that you receive confirmation of the application's approval before starting your business.
- Step 5: Program Participation
- After receiving approval, commence your business operations.
- Devote a minimum of 35 hours each week to implement your business plan.
- Receive weekly living allowance, EI benefits, or a combination, along with a possible $1,000 consulting grant during the first year.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Attendance at an information session is mandatory before submitting an application.
- The program offers a $1,000 consulting grant option.
- Weekly living allowances or EI benefits are provided while the business is operational in the first year.
- The program accepts applications on an ongoing basis without a set deadline.
- SkillsPEI offers business counseling to new entrepreneurs during their first year of operation.
grant_single_labels|contact
902-368-6290
Apply to this program
Empowering Unemployed Individuals through Entrepreneurship
Self Employ PEI is an innovative employment program tailored to assist unemployed individuals in Prince Edward Island who aspire to start their own businesses. By offering financial support and professional business counseling, it aims to nurture new entrepreneurs throughout their crucial first year of operation.
Comprehensive Overview of Self Employ PEI Program
The Self Employ PEI program stands out as a critical component of the Prince Edward Island government's efforts to bolster local entrepreneurship. This initiative targets unemployed individuals who possess the drive to embark on entrepreneurial ventures, providing them with the necessary resources and guidance to succeed. At its core, the program is structured to ensure that participants demonstrate their preparedness and commitment to entrepreneurship before commencing their business activities.
Unlike many grant programs with strict deadlines, Self Employ PEI allows for ongoing applications, facilitating a more accessible entry point for aspiring entrepreneurs who may be in various stages of business planning. The privilege of receiving a living allowance or EI benefits during the initial stages provides participants with financial stability, thus enabling them to focus intensively on nurturing their business ideas into viable enterprises. Furthermore, the availability of a consultancy grant enriches the program by helping participants access expert advice, essential for navigating the complexities of the business world.
A key part of the application process is the Return to Work Action Plan, which serves as a roadmap for applicants. This plan necessitates a detailed assessment of the applicant's business readiness, matched with a comprehensive review of their entrepreneurial aspirations. The business plan, a cornerstone of the application, undergoes keen scrutiny to ensure it reflects a well-conceived idea with potential for sustainability and growth. A demonstrated ability to secure investment or financing buttresses the application, showcasing the applicant’s dedication and the feasibility of their business concept.
The program's requirement for participants to devote a minimum of 35 hours per week in the first year underscores a commitment to intense engagement, significantly aiding in the grounding of robust business practices. Through the disciplined application of their business plans under the program's guidance, entrepreneurs gain a hands-on experience that is both fulfilling and invaluable.
Self Employ PEI is not merely about financial support; it is a holistic program that builds entrepreneurial acumen. The mandatory information session and subsequent consultations are designed to familiarize participants with the nuances of running a business while addressing their individual concerns and aspirations. These sessions lay the foundation for practical insights and tailored advice, reinforcing the entrepreneurs' understanding and capability to troubleshoot the challenges inherent in new business ventures.
This proactive approach ensures that emerging businesses are aligned with broader market realities and economic trends, allowing participants to adapt their strategies dynamically. By engaging with the Prince Edward Island economic ecosystem, participants position themselves not just as business owners, but as pivotal contributors to the province’s entrepreneurial landscape.
Moreover, the program fosters an inclusive environment that embraces a diverse range of business types, including but not limited to manufacturing, information technology, and retail. This diversity underscores the program’s recognition of varied entrepreneurial passions and its commitment to spurring economic diversification.
Ultimately, Self Employ PEI represents a strategic investment in Prince Edward Island's economic future. It supports both individual transformation and broader community upliftment by equipping entrepreneurs with the tools they need to create lasting business legacies. This initiative not only solves immediate employment challenges but also seeds long-term economic resilience, reflecting a deep commitment to nurturing sustainable, locally-driven businesses.
