Business Navigators - NS
Highlights
Starting a business can be challenging, but this program is designed to make it easier for you. Business Navigators provide personalized guidance to help you understand the steps you need to take. They will assist you with everything from identifying necessary licenses and permits to understanding inspection requirements. This means you can focus on growing your business while they handle the complexities of regulations.
Why should you apply? By working with a Business Navigator, you gain access to valuable resources and expert advice tailored to your specific type of business. Whether you are starting a restaurant, a garage, or a food truck, you will receive a comprehensive overview of the requirements and regulations. This program also connects you with additional resources for financing, taxes, and staffing, ensuring you have all the support you need to succeed. The process is straightforward and designed to help you qualify easily, making it a smart choice for any new business owner.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Equipment purchases
- Leasehold improvements
- Marketing and advertising costs
- Training and development programs
- Operational costs directly related to business start-up
Use of Funds:
- Funds cannot be used for personal expenses.
- Funds cannot be used for debt repayment.
- Funds cannot be used for expenses incurred before the grant approval date.
Fees:
- No application fees.
- No processing fees.
Qualifications
- Must be a new business.
- Must be operating within the province.
- Must comply with provincial regulations and requirements.
- Must obtain necessary licences and permits.
Must follow inspection requirements if applicable.
Disqualifications:
- Businesses not operating within the province.
- Existing businesses that do not require start-up guidance.
Description
This program offers your business up to $1,000,000 in funding. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible purchases include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For operational costs like software or working capital, the program provides up to $150,000.
The federal government guarantees 85% of the loan, giving you a significant safety net.
Flexible repayment options are available. If you've made qualifying purchases in the last year, you can include them in this loan. You can choose between variable or fixed interest rates, or a combination of both.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Contact a Business Navigator: Reach out to a Business Navigator for assistance in getting started and understanding the necessary steps.
Review Starter Guides: Look through the starter guides specific to your type of business. These guides provide an overview of the regulations, licences, permits, and registrations you need.
Prepare Documentation: Gather all necessary documentation for your application. This includes:
- Business plan
- Financial statements
- Identification documents
- Proof of business address
- Any specific licences or permits required for your business type
Understand Regulations and Requirements: Identify the regulations and requirements relevant to your business. This includes any inspection requirements and compliance with provincial regulations.
Identify Additional Resources: Obtain contact information for additional requirements such as financing, taxes, and staffing. Utilize resources provided by the Business Navigator for start-up funding.
Submit Application: Complete and submit your application along with the prepared documentation to the appropriate authority or platform as guided by the Business Navigator.
Follow Up: After submission, follow up with the Business Navigator or the relevant authority to ensure your application is processed and to address any additional requirements or questions.