Small Business Support Program — Small Business Opportunities Fund
NU, Canada
Funding to start or grow a business in Nunavut
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|noCondition
grant_single|deadlines
- grant_single|closingDateMarch 31, 2022
grant_single|financingType
Grant and Funding
Other Support
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
Receive up to $100,000 for your new or expanding small business to offset the costs associated with a wide range of planning, start-up, expansion and marketing activities, and to help you face viability or wind-down challenges during COVID-19.
grant_single_labels|projects
Eligible projects and activities for the Small Business Support Program include:
- Business start-ups and expansions
- Development of business and marketing plans
- Support for new pilot projects
- Training in accounting, bookkeeping, and business start-up
- Assistance in tourism safety and risk management
- Establishment of business aftercare programs
- Support for activity in the tourism, arts & crafts, and harvesting sectors
- Assistance in overcoming legal or bookkeeping problems
- Support for the purchase of tools and minor capital items
- Payment for tourism operators' liability insurance
grant_single|admissibleProjectsExample
$80,000
Montreal
Development of a mobile app for local tourism navigation
$90,000
Winnipeg
Support for a local farmer to purchase new harvesting equipment
$30,000
Calgary
Training program for small business owners in bookkeeping and accounting
$45,000
Ottawa
Launch of an aftercare program for newly established small businesses
$75,000
Toronto
Expansion of a local bakery to include an online delivery service
$60,000
Vancouver
Creation of a cooperative shared workspace for local artisans
grant_single_labels|admissibility
The Small Business Support Program provides funding to businesses and individuals for business attraction, retention, expansion, and support. Eligibility criteria include:
- Businesses or entrepreneurs with less than $500,000 in gross sales or fewer than ten employees
- Applicants must be in good standing with no outstanding obligations to the Department of Economic Development and Transportation
- Expense eligibility covers specific business expenses but not compensation for lost income or tax remittances
- Funding may be used for costs incurred between November 1, 2021 to March 31, 2022.
grant_eligibility_criteria|who_can_apply
Small businesses or entrepreneurs with less than $500,000 in gross sales or fewer than ten employees are eligible for the Small Business Support Program grant in Nunavut.
- Artists
- Craftspeople
- Retailers
- Tourism-related businesses
- Harvesters
grant_eligibility_criteria|who_cannot_apply
Some types of companies are not eligible for this grant:
- Companies with more than $500,000 in gross sales or more than ten employees.
grant_eligibility_criteria|eligible_expenses
The eligible expenses for this grant include subsidizing business expenses such as insurance or licensing fees, office rentals, utilities, and non-refundable business expenses for goods affected by the pandemic. Funding may not be used for lost income, tax remittances, loan payments, or owner drawings.
- Insurance or licensing fees
- Office rentals
- Utilities
- Non-refundable business expenses for goods affected by the pandemic
grant_single_labels|criteria
There are evaluation and selection criteria for the Small Business Support Program grant in Nunavut:
- Applicants must have less than $500,000 in gross sales or fewer than ten employees.
- Applicants must be in good standing and have no outstanding accounting or contractual obligations with the Department of Economic Development and Transportation.
- Business relief funding can be used for specific eligible expenses related to business operation and not for compensation of lost income or revenue.
- Funding may cover costs incurred between November 1, 2021, and March 31, 2022.
grant_single_labels|register
- Step 1: Download the Small Business Support Program Application form.
- Step 2: Fill out the application form completely and accurately.
- Step 3: Provide a brief explanation of how the business has been impacted by the pandemic.
- Step 4: Submit the completed application package to local Community Economic Development Officers or relevant Regional Community Operations Office.
- Step 5: Await a response regarding the status of your application.
Apply to this program
Small Business Support Program Overview
The Small Business Support Program offered by the Government of Nunavut provides funding to support small businesses, community organizations, and individuals in various sectors with eligible expenses to overcome challenges caused by the pandemic. This program aims to assist businesses through subsidies for expenses such as insurance, office rentals, utilities, and other non-refundable costs incurred between November 1, 2021, and March 31, 2022, promoting business growth and sustainability.
The Small Business Support Program is a vital initiative that targets small businesses and entrepreneurs in Nunavut, offering financial assistance for eligible expenses to support business attraction, retention, expansion, and sustainability. It caters to businesses with less than $500,000 in gross sales or fewer than ten employees, fostering economic development and resilience within the region. The funding provided by the program can be utilized for various expenses such as insurance or licensing fees, office rentals, and utilities, benefiting businesses across different sectors including artists, craftspeople, retail, tourism, and harvesters.
Applicants seeking support from the Small Business Support Program must meet specific eligibility criteria, demonstrating good standing with no outstanding obligations with the Department of Economic Development and Transportation. The expenses covered by the funding should be related to business relief and cannot be allocated to compensate for lost income, tax remittances, loan payments, or owner drawings. By subsidizing eligible business expenses incurred during the specified period, the program aims to alleviate financial burdens on small businesses and facilitate their growth and sustainability.
In addition to providing immediate relief through expense subsidies, the Small Business Support Program also supports businesses through other funding avenues like the Small Business Opportunities Fund, which aids in business start-ups, expansions, and the development of business plans. Furthermore, the Entrepreneur Development Fund assists businesses in training and skill development while also supporting the establishment of business aftercare programs.
Overall, the Small Business Support Program plays a crucial role in fostering entrepreneurship, economic growth, and resilience in Nunavut by offering financial assistance to small businesses and entrepreneurs facing challenges due to the pandemic. By providing subsidies for eligible expenses and supporting various initiatives to enhance business development, the program contributes to the sustainability and success of small businesses across different sectors within the region.
