Small Business Support Program – Entrepreneur Development Fund
$100,000.00
Grant
Description:
The Entrepreneur Development Fund supports the acquisition of foundational entrepreneurship and business skills by Nunavut residents and businesses by improving the availability of on-going assistance to small business operators. The fund will also help to build the capacity of Nunavut organizations and business service providers to deliver services and training in the areas of entrepreneurship capacity, business aftercare, or tourism safety and risk management.
Comments on Funding:
A recipient may access funding under this schedule which shall not exceed $100,000.
Financial Assistance may be provided for the following eligible activities:
(a) Establishment of business aftercare programs by Nunavut organizations. Assistance is limited to a maximum of 80% of the additional cost for program delivery.
(b) Where no relevant services are offered by Nunavut organizations, purchase by individual businesses for required aftercare services from other sources of entrepreneurial, management, and business capacity support is eligible. Assistance is limited to a maximum of 70% of eligible costs.
Rolling deadline
Eligibility:
Applicants must:
1. Be businesses or entrepreneurs typically with less than $500,000 in gross sales or fewer than ten employees are eligible to apply.
2. Be in good standing and have no outstanding accounting or other contractual obligations with the Department of Economic Development and Transportation.
3. Be Nunavut-based individual or business in a joint-venture or partnership of a corporation.
4. Be an artist, craftsperson, or performing artist who makes all or part of their income through the sale of products they produce or plan to produce.
5. Be a renewable resource harvester who earns part or all of their income from the sale of renewable resource products they harvest, or plan to harvest from available commercial quotas, agriculture, or similar sources.
Application Steps:
Applicants must submit a completed application package that includes Small Business Support Program Application Form to their local Hamlet Community Economic Development Officer (where available) or the relevant Regional Community Operations Office.
Kitikmeot – Community Economic Development Office: P.O. Box 316, Kugluktuk, NU X0B 0E0
Kivalliq – Community Economic Development Office: P.O. Box 979, Rankin Inlet, NU X0C 0G0
North Baffin – Community Economic Development Office: P.O. Box 389, Pond Inlet, NU X0A 0S0
South Baffin – Community Economic Development Office: P.O. Box 612, Pangnirtung, NU X0A 0R0
Documentation Needed:
Applicants must:
1. Submit a completed application package that includes Small Business Support Program Application Form to their local Hamlet Community Economic Development Officer (where available) or the relevant Regional Community Operations Office.
2. Submit as well as supporting information required to assess eligibility and need. This may include:
(a) For Nunavut Organizations delivering services, a detailed plan of the entrepreneur development, business aftercare, or tourism risk management program to be delivered. This plan should outline the rationale and benefits of the program, identify the anticipated clients who will use the services, identify the qualifications of the people who will provide services, and provide a detailed budget.
(b) For individuals and businesses, a description of the services to be acquired on the ‘open market’, the business rationale for seeking these services, the qualifications of the service-provider, and a detailed budget.
Other Things to Note:
Eligible activities must fall into one or more of the following categories: entrepreneur development, business aftercare, or tourism safety and risk management.
About the author
Maurice
