Small Business and Market Development Program

The Small 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 is intended to support new growth opportunities in the economy, such as value-added manufacturing activities and export-oriented opportunities.

Eligibility Criteria

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, co-operatives and other similar structures, are eligible to apply.

The applicant must demonstrate that the business has the appropriate financial structure and management ability to carry out the proposed project.

Summary

Eligible Activities
Projects considered under this program include:

• new market development activities or researching new product development opportunities;
• technical feasibility research relating to potential new business opportunities; and
• acquiring external expertise on production processes, marketing, financial management or other internal company needs for growth and expansion.

Ineligible Activities
Projects that are not eligible for funding include:

• pre-commercial industrial research and development activity;
• generic business plans for new business start-ups or expansions unless extenuating circumstances exist;

Available Funding
Up to $25,000 in the form of a non-repayable grant is available to eligible applicants. These funds must be matched on an equal basis by the applicant.

For more information:

• call toll-free at 1-800-563-2299
• view the  application form
• visit the regional office nearest you:  INTRD - Contacts for Newfoundland and Labrador.