Self-Employment Benefit – Workforce Expansion
The Workforce Expansion Self-Employment Benefit Program provides various types of support during the initial development phase of the business including financial assistance, coaching and ongoing technical advice to unemployed individuals to create a job for themselves by starting a new business.
Offered by Department of Post-Secondary Education, Training and Labour
Amount
no fixed amount
Quick eligibility check
Who can apply
The applicant must:
- be legally entitled to work in Canada,
- reside in New Brunswick, or be willing to establish residency in New Brunswick,
- not be a full-time student,
- be unemployed and EI eligible,
- present a business plan,
- work full-time at the business (at least 35 hours per week),
- have decision-making control over the business operation and have 50% or more ownership,
- agree to and have an acceptable credit review,
- be able to provide additional capital to the business in form of cash or in-kind contributions at a minimum of 5% of total start-up costs,
- not have started the business prior to being approved and signing a contract for the Self-Employment Benefit program,
- not have received funding under the Self-Employment Benefit Program within the last five years.
Business started under the Self-Employment Benefit Program must:
- be a for-profit venture,
- operate on a full-time basis for a minimum of 44 weeks per year,
- be established in New Brunswick and begin operation within ten weeks of signing a Self-Employment Benefit contract,
- demonstrate viability.
- 50/50 Partnership businesses will be considered if a formal written agreement is provided, which details the business partners’ relationships. Both partners can apply to the program.
- Businesses with a franchise fee of $50,000 or less are eligible.
About the funding
Applicants who are receiving or are eligible to receive Employment Insurance benefits, will continue to receive these benefits until their claim ends. At that time, they will receive support at a provincially established rate for the duration of time remaining on the program.
If they are approved for the Self-Employment Benefit Program but not receiving Employment Insurance benefits, they will receive a weekly allowance at a provincially established rate.
Revenue from the business will not be deducted from your benefits while you are participating in the Self-Employment Benefit Program.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Indigenous Agriculture Development Program | Grant | No fixed amount | Open |
| Aboriginal Entrepreneurship Program: Access to Capital | Grant | Individual Indigenous entrepreneurs may receive up to $99,999 in funding assistance and eligible Indigenous community businesses may receive up to $250,000 (non-repayable equity contribution | Open |
| Mitacs Accelerate Entrepreneur | Grant | $15,000 per internship unit (4 to 6 months), half from the partner organization and half from Mitacs | Open |
