How can the Atlantic Canada Opportunities
Agency (ACOA) help?
To stay competitive in the global marketplace, your products have
to meet global standards for quality and environmental management
systems; employees need to be well trained; and marketing
strategies have to be well thought out.
However, it can often be difficult to generate sufficient money
from operations or to borrow from traditional sources for
these purposes.
That is why ACOA provides financing in the form of interest-free,
unsecured, repayable loans or provisionally repayable loans.
What costs are eligible?
Marketing: A marketing plan provides you with a thorough
analysis of your products, services, competitors and potential
customers. It helps you make sound decisions on what products,
pricing and promotional strategies you need to succeed.
ACOA can finance up to 75 per cent of the costs of developing a
marketing plan and of hiring a marketing manager to implement the
plan over a three-year period. Other eligible activities include designing
new labels and packaging, promotional materials, advertising, product
demonstrations and participation at trade shows. Export-related
activities can also be financed through provisionally repayable loans.
Training: Increasingly, the success of any business depends on
the knowledge and productivity of its employees and management.
Developing human resources is one of the best investments you
can make to improve your competitiveness.
ACOA can finance up to 75 per cent of the cost of developing and
implementing a human resources plan for your firm. Eligible costs
include hiring human resource experts for up to three years to
deliver a training package based on the needs identified in the
plan. This includes training materials, seminar fees and wages during
the time that employees receive off-the-job training.
Productivity / Quality Improvement / Environmental
Management Systems: ACOA can finance up to 75 per cent of
the cost of hiring consultants to develop and implement a
productivity plan, a quality improvement plan or an environmental
management system. Other activities eligible for financial assistance
include obtaining a recognized quality certification such as the
ISO designation and the cost of technical equipment required for
improved quality, productivity and environmental management.
Consultant advice: Being competitive doesn’t happen by accident.
It takes thorough analysis and planning.
ACOA can finance up to 75 per cent of the cost of
hiring a qualified consultant to:
- prepare a business plan or feasibility study;
- investigate licensing opportunities; conduct a venture capital
search, a technology transfer search or;
- provide mentoring services to improve your
business skills.
Selling to Government: Governments use a wide variety of goods
and services, most of which are purchased from the private sector.
If you are interested in selling to government, ACOA can help you
identify contract opportunities as well as provide provisionally repayable
financial assistance for up to 75 per cent of the costs associated with
improving your ability to bid on and/or acquire public or private-sector
procurement contracts or sub-contracts. The emphasis should be on
new products or services rather than products already well serviced
by Atlantic firms.
Environmental Assessment
As part of its project assessment process, ACOA
requires that all projects conform with the
environmental guidelines set out in the
Canadian Environmental Assessment Act.
How to get started
Contact the ACOA office nearest you.
- New Brunswick: 1-800-561-4030
- Prince Edward Island: 1-800-871-2596
- Newfoundland and Labrador: 1-800-668-1010
- Nova Scotia: 1-800-565-1228
- Cape Breton, Nova Scotia (Enterprise Cape Breton Corporation):
1-800-705-3926
