Small Business Support Program — Entrepreneur Development Fund

Who is eligible?

Businesses or entrepreneurs with less than $500,000 in gross sales or fewer than ten employees. All sectors, including artists, craftspeople, retail, tourism, and harvesters, are eligible. Applicants must be in good standing with no outstanding obligations to the Department of Economic Development and Transportation.

Who is not eligible

Some types of companies may not be eligible for this grant. The eligibility criteria may exclude certain industries or entities. Please refer to the specific guidelines for detailed information.

• Companies with gross sales exceeding $500,000
• Companies with more than ten employees
• Companies that are not in good standing or have outstanding obligations with the Department of Economic Development and Transportation

Eligible expenses

Eligible expenses for the Small Business Support Program include essential operational costs incurred by businesses due to the pandemic.

• Insurance or licensing fees.
• Office rentals.
• Utilities.
• Non-refundable business expenses for goods that are unusable due to the pandemic.

Eligible geographic areas

This grant is available to businesses and entrepreneurs in the regions of Nunavut, focusing on enhancing local economic development. Funding is accessible to those who operate within specified areas covered by the regional economic development offices.

• Kitikmeot Region
• Kivalliq Region
• North Baffin Region
• South Baffin Region

The Small Business Support Program in Nunavut has specific evaluation and selection criteria for grant applications. These criteria include:

• Applicant's demonstration of how their business has been affected by the pandemic
• Good standing without outstanding obligations with the Department of Economic Development and Transportation
• Expense eligibility: subsidizing specific business expenses related to the pandemic
• Limitations on fund usage: cannot compensate for lost income, tax remittances, loan payments, or owner drawings
• Subsidized costs must be incurred between November 1, 2021, and March 31, 2022

Here are the steps to submit an application for the Small Business Support Program:

• Step 1: Obtain Application Form
• Find and download the Small Business Support Program Application form from the official website or contact the Community Economic Development Office to receive the form.
• Step 2: Prepare Application
• Complete the Small Business Support Program Application form with accurate business details.
• Write a short explanation of how the business has been affected by the pandemic, emphasizing specific challenges and impacts on your business.
• Step 3: Submission
• Submit the completed application package, including all necessary forms and documentation, through your local Community Economic Development Officer or the relevant Regional Community Operations Office.
• If applicable, use the contact information provided for the relevant region: Kitikmeot, Kivalliq, North Baffin, or South Baffin.
• Step 4: Follow-up
• Contact the office where you submitted your application to confirm receipt if no confirmation is received within a reasonable timeframe.
• Retain a copy of all submitted documents for your records.
• Keep track of any communications from the funding body regarding your application status.

Here are additional relevant details for this grant:

• The funding application deadline is March 31, 2022, emphasizing the urgency for applicants to submit their packages promptly.
• Eligible expenses must have been incurred within the specified period from November 1, 2021, to March 31, 2022, which is critical for planning financial documents.
• Applicants must ensure they are in good standing with the Department of Economic Development and Transportation, which can streamline the approval process.
• Submissions can be made through local Community Economic Development Officers, providing localized support and potentially personalized assistance for applicants.