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 1, 2021
- grant_single|closingDateMarch 31, 2022
- grant_single|grantStatusClosed
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|terms_and_conditions
The Entrepreneur Development Fund aims to assist businesses through training and skill development initiatives as part of its broader financing modalities. These modalities are designed to ensure businesses receive the necessary support to overcome skill gaps and financial challenges.
- Subsidization for eligible training costs in areas such as accounting, bookkeeping, business start-up processes, and tourism safety and risk management.
- Support for establishing business aftercare programs to ensure ongoing business health.
grant_single_labels|projects
This grant supports activities aimed at assisting small businesses and entrepreneurs through skill development and operational support. The eligible activities focus on training, business planning, and enhancing operational capabilities.
- Training in accounting, bookkeeping, and business start-up strategies.
- Tourism safety and risk management training.
- Development of business and marketing plans.
- Support for new pilot projects and business wind-down planning.
- Establishment of business aftercare programs.
- Addressing immediate legal or bookkeeping issues.
- Purchasing tools and minor capital items for business operation.
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 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
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