Small Business Support Program – Entrepreneur Development Fund
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.
Offered by Ministry of Economic Development and Transportation
Amount
Up to $100,000 per recipient
business aftercare programs delivered by Nunavut organizations: up to 80% of the additional program delivery cost; businesses buying aftercare services: up to 70% of eligible costs
Quick eligibility check
Who can apply
Nunavut Business
A business which complies with the legal requirements to carry on business in Nunavut, and meets any of the following relevant criteria:
Is a limited company with at least 51% of the company's voting shares owned by
Nunavut Residents, or
Is a corporation without share capital with at least 51% of the members being
Nunavut Residents, or
Is a cooperative with at least 51% of the residents' voting shares owned by Nunavut
Residents, or
Is a sole proprietorship, the proprietor of which is a Nunavut Resident, or
Is a society with at least 51% of the memberships owned by Nunavut Residents,
or
Is a partnership, the majority interest in which is held by Nunavut Residents and in
which the majority benefits accrue to Nunavut Residents, or
A business listed in the Nunavummi Nangminiqaqtunik Ikajuuti Business Directory.
The business must also:
Maintain a registered office in Nunavut on an annual basis for the primarypurpose of operating the subject business;
Maintain a Resident Manager within Nunavut; and
Undertake the majority of its day-to-day operations within Nunavut.
Nunavut Businesses, Residents and Organizations.
About the funding
A recipient may access funding under this schedule which shall not exceed $100,000.
Payments will be issued in installments, as outlined in the terms of the Contribution
Agreement.
Contributions are normally once per fiscal year, with a reporting period from April 1st to March 31st of each government fiscal year. The department may conditionally approve multi-year projects, subject to availability of funds in subsequent years.
Show all funding details
Financial Assistance may be provided for the following eligible activities:
Establishment of business aftercare programs by Nunavut organizations. Assistance is limited to a maximum of 80% of the additional cost for program delivery.
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.
Eligible activities must fall into one or more of the following categories: entrepreneur development, business aftercare, or tourism safety and risk management.
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Small Business Support Program – Small Business Opportunities Fund | Grant | Accountable contributions, not to exceed $100,000 per recipient | Open |
| Strategic Investments Program – Nunavut Business Investment Fund | Grant | Up to $250,000 | 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 |
| CanNor Jobs and Growth Fund | Grant, Loan | Interest-free repayable contributions for up to 50 percent of eligible costs (businesses) | Open |
