Small Business Support Program — Entrepreneur Development Fund
Kugluktuk, NU, Canada
Financing for business training and aftercare in Nunavut
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|openingDateNovember 01, 2021
- grant_single|closingDateMarch 31, 2022
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Retail trade
- Arts, entertainment and recreation
- Accommodation and food services
- Other services (except public administration)
- Public administration
grant_single|grantors
- Department of Economic Development and Transportation (NU)
- Government of Nunavut
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get up to $100,000 to cover up to 80% of the costs of business training and skills development including accounting, bookkeeping, business start-up, tourism safety and risk management. You can also benefit from help in establishing business aftercare prog
grant_single_labels|projects
This grant is designed to support small businesses and entrepreneurs by providing funding for a variety of activities aimed at overcoming challenges and fostering sustainable growth. The eligible activities focus on business start-ups, expansions, skill development, and addressing immediate business needs.
- Development of business and marketing plans for start-ups and expansions.
- Support for new pilot projects and business wind-down activities.
- Training in areas such as accounting, bookkeeping, business start-up, and tourism safety and risk management.
- Establishment of business aftercare programs.
- Provision of assistance to overcome legal or bookkeeping problems.
- Support for purchasing tools and minor capital items.
- Help with paying liability insurance for tourism operators.
grant_single|admissibleProjectsExample
$24,000
Support for local artists to enhance their online presence
$44,000
Provide aftercare services for pandemic-affected businesses
$48,000
Develop a tourism safety program for new adventure tours
$44,000
Launch a bookkeeping and accounting service for small businesses
$44,000
Expansion of retail boutique focusing on sustainable fashion
$40,000
Launch a business development program for Indigenous artists
grant_single_labels|admissibility
Eligibility for this grant is determined by specific requirements related to the business size, sector, and legal standing.
- The applicant must be a business or entrepreneur typically with less than $500,000 in gross sales or fewer than ten employees.
- Applicants may be from any sector including artists, craftspeople, retail, tourism, and harvesting.
- The applicant must have no outstanding accounting or other contractual obligations with the Department of Economic Development and Transportation.
grant_eligibility_criteria|who_can_apply
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.
grant_eligibility_criteria|who_cannot_apply
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
grant_eligibility_criteria|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.
grant_eligibility_criteria|zone
This grant is available to companies located in several geographic areas as determined by the Community Economic Development Offices in Nunavut, Canada. The eligible areas are supported through regional offices.
- Kitikmeot, inclusive of Kugluktuk.
- Kivalliq, inclusive of Rankin Inlet.
- North Baffin, inclusive of Pond Inlet.
- South Baffin, inclusive of Pangnirtung.
grant_single_labels|criteria
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
grant_single_labels|register
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.
grant_single_labels|otherInfo
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.
grant_single_labels|contact
edt@gov.nu.ca
867-982-7445
Apply to this program
Introducing the Small Business Support Program
The Small Business Support Program in Canada offers vital funding to small businesses and community organizations, aiming to bolster new business attraction, retention, and expansion efforts. This program addresses the financial challenges caused by the pandemic, providing support for various eligible business expenses.
In-Depth Insights into the Small Business Support Program
The Small Business Support Program is an initiative designed to empower small businesses, community organizations, and individual entrepreneurs facing financial strains, particularly due to the pandemic. This comprehensive program aims to stabilize and grow small enterprises by offering targeted financial assistance to cover necessary operational costs. Eligible recipients are small businesses and entrepreneurs who meet specific criteria, including having gross sales less than $500,000 or maintaining fewer than ten employees. The program is inclusive, embracing diverse sectors such as arts, crafts, retail, tourism, and harvesting, thus recognizing the multifaceted character of Canada's small business ecosystem.
This program targets the alleviation of specific business expenses incurred during the challenging period between November 1, 2021, and March 31, 2022. It covers essential costs like insurance, licensing fees, office rentals, and utilities; however, it explicitly excludes applications meant to compensate for lost income, loan repayments, or owner draws. By focusing on these criteria, the program ensures that funds are directed towards sustaining operational activities and preventing financial burdens rather than replacing lost revenues, thus promoting responsible financial management.
Applicants are required to prepare and submit a comprehensive application package, which includes the Small Business Support Program Application and a concise narrative describing how the pandemic has impacted their business operations. This approach ensures that support is given to those genuinely affected by the economic downturn. The submission process is facilitated by Community Economic Development Officers or through direct contact with Regional Community Operations Offices, making the process accessible and community-oriented. The deadline for applications provides a clear timeframe for businesses to prepare and submit necessary documents, ensuring clarity and fairness in the application process.
Beyond the immediate relief offered, the program also features strategic support via additional funding schedules under the Grants and Contributions Policy. The Small Business Opportunities Fund helps initiate business start-ups and expansions, also supporting marketing plan development and pilot projects. Meanwhile, the Entrepreneur Development Fund emphasizes skill enhancement and training, crucial for sustained business growth, with a focus on critical areas like accounting, risk management, and tourism safety. The Sustainable Livelihood Fund offers specialized aid to sectors like tourism, arts, and crafts, providing necessary tools, overcoming legal hurdles, or assisting with essential insurances like liability coverage for tourism operators.
The combined offerings of these funds underscore a holistic approach to economic recovery, focusing on immediate stabilization while paving the way for future growth and sustainability. The emphasis on skill development and capacity building highlights the program’s intention of not just surviving but thriving through empowerment and education.
The Small Business Support Program thus serves as a lifeline for entrepreneurs and small businesses, enabling them to navigate through economic challenges with tangible support and strategic guidance. It reinforces the importance of small businesses as pivotal contributors to local economies and community resilience, reaffirming Canada's commitment to nurturing the entrepreneurial spirit within a sustainable and inclusive economic framework. For interested applicants, the program provides not only financial assistance but a spectrum of resources aimed at long-term success, establishing a robust foundation for future endeavors in a post-pandemic economy.
