How much funding can be received?

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|projects

This grant is specifically targeted at residents looking to start businesses in Prince Edward Island. The program is managed by SkillsPEI, which suggests it is focused on supporting entrepreneurs within this province.

Businesses located in Prince Edward Island.

grant_single|admissibleProjectsExample

$75,000

Starting a social enterprise repurposing electronic waste into educational kits

$85,000

Establishing a microbrewery focused on local, organic ingredients

$60,000

Creating a repair and refurbish service for electronics, focusing on smartphones

$70,000

Establishing a sustainable bakery specializing in organic breads and pastries

$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

The eligible geographic zones for this grant are the regions in Prince Edward Island.

Charlottetown
Summerside
Montague
West Prince

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.