Support policy for businesses

The Support Policy for Businesses, developed alongside the regional development fund, aims to assist private and social economy enterprises in Trois-Rivières with start-up or expansion projects by offering non-repayable grants. It prioritizes initiatives in tourism, industrial, commercial, agricultural, and scientific development that promote job creation and economic expansion.

The economic landscape of Trois-Rivières is evolving, with diverse opportunities for businesses to innovate and expand. To further stimulate this evolution, the Support Policy for Businesses has been crafted to offer significant financial incentives to companies demonstrating potential for growth and community impact. This grant is strategically designed to invigorate sectors such as tourism, industrial development, and the social economy, thereby fostering a robust and diversified regional economy.

A cornerstone of the Support Policy is its targeted approach to economic sectors that have the potential to drive substantial development in the region. The grant specifically targets: 1. **Tourism:** Projects that enhance and diversify the tourism offer are prioritized. The goal is to nurture initiatives that can position Trois-Rivières as a compelling destination, adding unique, value-adding experiences for visitors that extend beyond traditional attractions. 2. **Industrial, Commercial, Agricultural, and Scientific Development:** Support is directed towards innovative projects that can generate permanent, high-quality employment. These sectors are pivotal for economic sustainability, as they encompass a wide range of industries from manufacturing to cutting-edge scientific endeavors. Eligible organizations include cooperatives, private non-profit entities within the social economy, and private incorporated companies, excluding those in the financial sector. This deliberate exclusion of financial sector businesses ensures that funds are channeled into segments with direct community and employment impacts.

To ensure that the funds address key development needs, the grant covers various expenses including: - **Capital Assets and Equipment:** This includes costs like leasehold improvements, machinery, and rolling stock essential for scaling operations. - **Collaborative Information Tools:** Funding can support the creation of websites and necessary translation costs, enabling businesses to expand their market reach and operate more efficiently. - **Expertise and Technology Acquisition:** Expenses related to specialized analysis projects, the purchase of technology, patents, and software are eligible, although research and development activities are exempted.

The financial structure of the assistance is crafted to maximize impact while ensuring accountability and sustainability. The grant offers a non-repayable financial assistance, capped at $20,000 per project. However, this amount can reach up to $40,000 if a project demonstrates substantial growth-generating potential. The assistance covers up to 80% of allowable costs for social economy projects and 50% for other private for-profit businesses. This stratification ensures equitable distribution of resources, supporting a wide array of enterprises. Successful projects are formalized through a memorandum of understanding, detailing the conditions for fund disbursement and outlining mutual obligations, fostering transparency and commitment.

With no sector-specific financial pool, the selection process is competitive, evaluating projects based on: - **Growth-Generating Impact:** Consideration of job creation, tangible community benefits, and local economic priorities. - **Financial Structure and Viability:** A thorough examination of the proponent’s financial health, self-financing potential, and overall financial strategy. - **Relevance and Innovation:** The project must demonstrate unique qualities, target an appropriate clientele, and provide competitive advantages. - **Feasibility and Proponent Expertise:** Proposals are assessed for realistic timelines, sound marketing strategies, and the business plan's quality. Additionally, the business acumen and experience of the proponent are critically viewed. Special attention is given to proponents aged 18 to 35 and business succession projects, reinforcing youth entrepreneurship and the continuity of legacy businesses.

The policy places a strategic emphasis on supporting young entrepreneurs and business succession in the industrial and high-tech sectors. By prioritizing these projects, the initiative not only nurtures future economic leaders but also ensures that businesses with significant local history continue to contribute to the regional economy. In conclusion, the Support Policy for Businesses serves as a catalyst for economic development in Trois-Rivières. By targeting key sectors and offering structured financial support to businesses with high growth potential, this grant fosters innovation, job creation, and long-term economic sustainability. Through strategic selection criteria and prioritization of youth-led and business succession projects, it ensures that the region’s economic fabric remains vibrant and dynamic. The success of this initiative relies heavily on a thorough understanding of the ecosystem, a commitment to strategic growth, and the shared vision of rejuvenating Trois-Rivières as a thriving hub for business growth and innovation.