The Business Development Support Program assists Newfoundland and Labrador SMEs with opportunities to increase their productivity and improve their competitiveness. The program supports SMEs who demonstrate a desire to develop and grow by improving the operations of the business, investing in its people, and focusing on trade opportunities. IET assistance will be targeted towards businesses in strategic sectors that normally focus on export markets and/or improve import substitution. Funding is available for productivity improvements, knowledge development, market development and/or professional technical advice.
Available Funding
The Business Development Support Program is in the form of a non-repayable contribution(s) to a maximum amount of $100,000 per government fiscal year. The contribution level will be up to 50 per cent of eligible costs, with the business identifying their access to the remaining funding to complete the project(s).
Eligible Applicants
Eligible applicants must normally:
- Be a small and medium-sized enterprise (SME) based and operating in Newfoundland and Labrador having fewer than 100 employees and less than $10 million in sales.
- Demonstrate its ability to undertake the work identified in the project proposal.
- Demonstrate its ability to access the financial capital required to complete the project.
- Operate in a strategic sector as defined by IET.
- Be in good standing with the Government of Newfoundland and Labrador.
HOW TO APPLY
Use either of the forms below to apply. For program details or assistance with your application, contact the Industry, Energy and Technology office near you or use the contact information below:
Application