Business and Market Development Program (Newfoundland and Labrador, Canada)

Last modified on February 12, 2015.

EZFeed Policy

Place	Newfoundland and Labrador
Applies to States or Provinces	Newfoundland and Labrador
Name	Business and Market Development Program (Newfoundland and Labrador, Canada)
Policy Category	Financial Incentive
Policy Type	Grant Program
Affected Technologies	Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Solar Photovoltaics, Tidal Energy, Wave Energy, Wind energy
Active Policy	No
Implementing Sector	State/Province
Program Administrator	Newfoundland and Labrador Department of Innovation, Business and Rural Development
Primary Website	http://www.ibrd.gov.nl.ca/
Last Review	2014-09-05
Last Substantive Modification to Summary	2013-09-05

Summary

This policy is no longer active. In 2013 the Business and Market Development Program will be absorbed into the new Business Development Fund.

The Business and Market Development Program provides new entrepreneurs and expanding small businesses with funding to help them acquire the necessary expertise to pursue new business ideas and new markets for their products or services. The program supports new growth opportunities in the economy, such as value-added manufacturing activities and export-oriented opportunities.

The program will provide assistance of up to $25,000 in the form of a non-repayable contribution. These funds must be matched on an equal basis by the applicant.

Small businesses (those with less than 50 employees and less than $5 million in annual sales) located and operating in Newfoundland and Labrador, including corporations, cooperatives and other similar structures, are eligible to apply. The applicant must demonstrate that it has the appropriate financial structure and management ability to carry out the project.

Applications will be considered for the following projects: • Developing new markets or researching new product development opportunities. • Technical feasibility research relating to potential new business opportunities. • Acquiring external expertise on production processes, marketing, financial management or other internal company needs for growth and expansion.

Policy Contact

Department	Newfoundland and Labrador Department of Innovation, Business and Rural Development
Division	Local Office
Phone	1-800-563-2299
Website	http://www.ibrd.gov.nl.ca/starting/generalsupport/BusinessMarketInsert.pdf