Tourism Product Diversification and Marketing Program — Business Planning and Transition Assistance
Canada
Funding for tourism product business planning in the Northwest Territories
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|closingDateJanuary 17, 2024
- grant_single|grantStatusClosed
grant_single|financingType
Grant and Funding
grant_single|eligibleIndustries
- Arts, entertainment and recreation
- Accommodation and food services
grant_single|grantors
- Minister of Industry, Tourism and Investment (NT)
- Government of the Northwest Territories
grant_single|status
grant_card_status|closed
grant_single_labels|preview
Get up to $25,000 towards the development of business plans to enhance an existing tourism product or develop a new one.
grant_single_labels|projects
This grant is intended for entities located in the Northwest Territories (NWT) of Canada. The geographical eligibility is oriented towards the improvement and development of tourism in this specific region.
- Businesses and organizations located within the Northwest Territories (NWT).
grant_single|admissibleProjectsExample
$15,000
Create digital marketing materials for a wine tour startup
$14,000
Create a marketing campaign to increase tourism at a new historical museum
$22,000
Develop a new guided hiking tour to attract eco-tourists to Vancouver
$19,000
Enhance the cultural festival experience by integrating technology
$15,000
Develop a business plan for enhancing a canoeing adventure experience
$23,000
Develop a winter sports festival to attract tourists to Banff
grant_single_labels|admissibility
Eligibility for this grant is aimed at specific organizations and communities in the Northwest Territories.
- The applicant must be an NWT business, economic development agency, or community.
- Aboriginal organizations are eligible to apply.
- Potential aboriginal culture tourism ventures are also encouraged to apply.
grant_eligibility_criteria|who_can_apply
NWT Businesses, economic development agencies, Aboriginal Organizations, and communities are encouraged to apply, focusing on those wanting to enhance or develop tourism products, marketing, or business planning in the Northwest Territories.
grant_eligibility_criteria|who_cannot_apply
Some types of companies may not be eligible for this grant.
Here are the ineligible entities:
- Non-NWT Businesses
- Entities not related to economic development agencies or communities
- Non-Aboriginal Organizations
grant_eligibility_criteria|eligible_expenses
This grant supports projects that aim to enhance tourism offerings by developing new products and improving marketing strategies. Eligible activities include business planning, product enhancement, and marketing efforts to attract new visitors.
- Development of business plans for enhancing or developing tourism products.
- Consulting for obtaining a Tourism Operator Licence.
- Development and enhancement of tourism products, including start-up costs and capital acquisition.
- Skills upgrading and amenities upgrading related to tourism offerings.
- Website development for promoting tourism products.
- Marketing projects such as travel to trade shows and development of promotional materials.
grant_eligibility_criteria|zone
Eligible expenses for the Tourism Product Diversification and Marketing Program vary based on the type of assistance and are aimed at enhancing tourism products and marketing efforts.
- Consulting fees and costs for business plan development.
- Costs associated with consulting related to obtaining a Tourism Operator Licence.
- Start-up costs and capital acquisition.
- Skills upgrading and services or amenities upgrading.
- Website development or development costs associated with product offerings.
- Travel to trade shows and brochure/pamphlet development.
- Launch campaigns and development/modification of websites.
grant_single_labels|criteria
There are evaluation and selection criteria for this grant. The criteria focus on the applicant's business planning, product development, and marketing projects.
- Applicant's ability to demonstrate a clear business plan or project proposal.
- Viability of the proposed tourism product or service.
- Potential for economic growth and job creation in the NWT.
- Evidence of marketing strategies to attract new visitors.
- Equity contribution and financial commitment from the applicant.
- Alignment with the overall goals of the Tourism Product Diversification and Marketing Program.
grant_single_labels|register
- Step 1: Contact Tourism Development Officer
- Reach out to your regional Tourism Development Officer to discuss your project idea prior to proposal development.
- Step 2: Choose Appropriate Application Form
- Select the correct application form based on the funding schedule you are interested in:
- Business Planning and Transition Assistance - Application Form
- Product Development and Enhancement - Application Form
- Marketing Assistance for Tourism Businesses - Application Form
- Select the correct application form based on the funding schedule you are interested in:
- Step 3: Complete Application Form
- Fill out the chosen application form carefully, ensuring all necessary information and supporting documents are included.
- Step 4: Submit Application
- Send the completed application form to your regional office for review.
grant_single_labels|otherInfo
Key additional information for applicants of this grant:
- An applicant equity requirement of 15% applies to all schedules.
- Consulting with a regional Tourism Development Officer before application is highly recommended.
- Applicants should prepare to provide any additional information as requested by an economic development officer during the application process.
- Funding for Schedule 2 may involve the use of up to $10,000 in existing equity or sweat equity towards the project.
grant_single_labels|contact
867-767-9206
Apply to this program
Enhancing Tourism in the Northwest Territories
The Tourism Product Diversification and Marketing Program offers significant financial assistance for tourism businesses looking to innovate and expand their product and service offerings in the Northwest Territories. By providing funds for business planning, product development, and strategic marketing efforts, this grant supports the growth and adaptability of the tourism sector to meet evolving market demands.
Detailed Insights into the Tourism Product Diversification and Marketing Program
The Tourism Product Diversification and Marketing Program is a strategic funding initiative designed to bolster the tourism industry in the Northwest Territories by encouraging businesses to reinvent and enhance their offerings. This program is crucial for local tourism operators seeking to respond to changing consumer preferences and increase visitor numbers through innovative and diversified tourism experiences.
The program is structured into three distinct funding streams, each tailored to specific aspects of business growth. Schedule 1, Business Planning and Transition Assistance, offers up to $25,000 per applicant. This stream provides critical financial support for the development of robust business plans aimed at enhancing or creating new tourism products. Such planning is vital for businesses looking to boost their revenue and attract a broader audience. Eligible costs under this schedule include consulting fees for business plan development and any necessary consultations related to obtaining relevant tourism licenses.
Schedule 2, Product Development and Enhancement, is the most substantial part of the program, offering up to $250,000 over multiple years. This funding stream focuses on the core of the tourism business: the products and services offered to visitors. It includes financial assistance for startups or existing tourism businesses aiming to elevate their offerings. Funds can be applied toward acquiring necessary capital, upgrading skills, enhancing amenities, and developing new or existing products. A critical component of this schedule is its contribution towards website development, ensuring that businesses have a strong online presence to reach potential customers effectively. Equity requirements under this stream include at least 15% of overall project costs, which can comprise cash or sweat equity contributions.
The third stream, Schedule 3: Marketing Assistance for Tourism Businesses, recognizes the pivotal role of effective marketing in drawing tourists to the Northwest Territories. This section of the program allocates up to $10,000 per applicant for marketing-related expenses, such as travel to trade shows, creation of promotional materials like brochures, and online campaigns. Marketing initiatives are essential for highlighting the unique attractions and experiences available in NWT, thereby boosting visitor interest and engagement.
Applicants interested in accessing these funds are encouraged to collaborate closely with their regional Tourism Development Officer. This partnership can enhance the quality and effectiveness of their proposals, ensuring alignment with both program goals and applicant visions. Furthermore, applicants must contribute at least 15% equity to their projects to be eligible for these funds, demonstrating commitment and investment in their own business ventures.
The Tourism Product Diversification and Marketing Program is not just about financial assistance; it is an investment in the future of tourism in the Northwest Territories. By supporting businesses in developing innovative tourism products and effective marketing strategies, the program aims to make the NWT a more attractive destination for visitors from around the globe. This initiative plays a vital role in boosting the local economy, providing job opportunities, and showcasing the unique cultural and natural offerings of the region.
