How much funding can be received?

There is no informations about how much funding can be received.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the Self-Employ PEI?

Self-Employ PEI is funded by Government of Prince Edward Island, Skills PEI

What are Self-Employ PEI's eligibility criterias?

The applicant must be unemployed and searching for full-time employment. The applicant must not have started the operation of the proposed business prior to program approval. The applicant must be legally authorized to work in Canada (Canadian citizen or permanent resident).

Self-Employ PEI

grant_single|update January 24, 2025

PE, Canada

Support for Prince Edward Island (PEI) entrepreneurs

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Grant and Funding

Expert Advice

grant_single|eligibleIndustries

Manufacturing
Retail trade
Information and cultural industries
Accommodation and food services

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Government of Prince Edward Island
Skills PEI

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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.

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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.

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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.

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$ 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

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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.

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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.

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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

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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

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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)

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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

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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.

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.

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.

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.

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.

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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.