New Entrant Farm Business Accelerator Program
$15,000
Grant
Description:
The New Entrant Farm Business Accelerator (NEFBA) Program supports the growth of new entrants by providing financial support for the development and implementation of farm business plans and growth strategies. For the purposes of this program, New Entrant is defined as an agricultural producer who has not reported farm income for more than 5 years. The Program supports business planning and cost-shared purchasing of commercial farm infrastructure and equipment needed to accelerate the revenue growth of farm businesses.
Through the NEFBA Program, a new farm business can receive support to develop a growth strategy and to make investments necessary to achieve farm income growth goals, ensure commercial viability and strengthen financial sustainability.
Comments on Funding:
The NEFBA Program is an application-based cost-shared funding program for new farm businesses. The Program consists of two Phases, Phase 1 funding for support to update an existing business plan or develop a new business plan will be provided on a first-come, firstserved basis to qualified applicants until funding has been fully allocated. Phase 2 involves a competitive application process and will only be available to successful applicants from Phase 1 who are invited to apply for Phase 2 cost-share funding support for infrastructure. Phase 1 prepares and supports applicant readiness for Phase 2. Note that participating in Phase 1
prepares applicants for success in the Phase 2 application process, however, does NOT guarantee funding through Phase 2.
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must:
1. Be a Primary agriculture producer growing or raising primary agricultural products in British Columbia which are intended for sale.
2. Not reported farm income for more than 5 years.
3. Be a commercial farm business operation whose primary purpose is the production and sale of agricultural products and is either:
a. A sole proprietorship;
b. A B.C. registered business entity (partnerships, corporations, cooperatives, Indigenous economic development corporations, and band-owned businesses).
OR
c. An unregistered business entity listed in (b) above, committed to registering as a business before the completion of the project in March of 2024.
4. All owners, members, and shareholders must be residents of British Columbia and file income tax under the Income Tax Act in British Columbia.
5. Have not received cost-share funding from the Beneficial Management Practices Program or the On-Farm Food Safety Program after April 1, 2023.
6. Have not received funding for the same activities from the Indigenous Food System Partnership Program or the Indigenous Food Security and Sovereignty Fund.
Application Steps:
Applicants must:
1. Complete and submit an application form. a. Applications submitted before or after the intake period will NOT be accepted. Please ensure that all files and forms submitted include the business name and document type (i.e., Happy Valley Farms Growth Strategy).
2. Phase 1 applications are reviewed by the Ministry of Agriculture and Food, and Phase 2 applications are reviewed by the Ministry of Agriculture and Food and a panel of Farm Business Specialists. If approved, applicants will receive a Contribution Agreement in each phase which identifies the eligible project activities, financial contribution offered, and reporting requirements under which assistance is approved
3. review, sign and return the Contribution Agreement within 14 days of the date of the letter or funding will not be provided.
4. submit the Project Reimbursement Form. All projects must be completed, and Project Reimbursement Forms submitted by March 1, 2024/25. Project Reimbursement Forms must be accompanied by all invoices for eligible project costs incurred and paid for by the applicant in addition to proof of cost-share contribution (both cash and in-kind).
Documentation Needed:
Applicants must submit:
1. Partial Budget to describe how the investment will support the overall financial growth of
the operation.
2. Supplier quotes associated with the requested infrastructure and/or equipment investments
and any associated information (aerial designs, diagrams, etc.).
Other Things to Note:
The current application intake is now closed. The next intake for the New Entrant Farm Business Accelerator Program will be in 2025.
About the author
Maurice
