This program is designed for you if you are receiving employment insurance and have a viable business idea. It offers financial and technical assistance to help you start or acquire a business. You will receive professional guidance for one year to develop a solid business plan, secure funding, and get training on managing your business.

What You Get

• Financial support during the start-up phase
• Professional business plan development
• Training on starting and managing a business
• Ongoing counselling and support

Why Apply?

• Access to expert advice from CDEM professionals
• Networking opportunities through monthly meetings
• Comprehensive support to turn your business idea into reality

This program is easier to qualify for than many others, making it an excellent opportunity to get your business off the ground with the right support.

Type of Financing: Wage Subsidy

Repayment Terms and Interest Rates:

• No repayment is required.
• No interest rates apply.

Eligible Expenses:

• Salaries and wages for employees.
• Training costs for employees.
• Costs associated with hiring new staff.

Use of Funds:

• Funds can be used to cover employee wages and training.
• Funds can be used to support the hiring of new employees.

Restrictions on Use of Funds:

• Funds cannot be used for capital expenditures.
• Funds cannot be used for personal expenses or unrelated business activities.

Fees:

• There are no application or processing fees associated with this program.

This program offers financial and technical assistance to help you start or acquire a business. If you qualify, you can receive support for up to one year.

Here's what you get:

• Develop a business plan: Professional help to create a solid plan.
• Secure funding: Assistance in finding the money you need to start.
• Training: Learn how to start and manage your business effectively.
• Counseling: Ongoing support to ensure your business plan stays on track.

Monthly Meetings: Network with other entrepreneurs and exchange ideas.

This program is a great opportunity to turn your business idea into reality with expert guidance and financial support.

1. Schedule a Meeting with a CDEM Professional: Contact a CDEM business advisor to discuss your business idea and assess its feasibility. This step is crucial to ensure your project aligns with the program's objectives.

2. Develop a Business Plan: Work with your CDEM advisor to create a comprehensive business plan. This plan should outline your business goals, strategies, and financial projections.

3. Gather Required Documentation: Prepare the necessary documents for your application. These typically include:

• Business Plan
• Financial Statements
• Proof of Employment Insurance Benefits
• Identification Documents
• Any other documents requested by the CDEM advisor

4. Secure Funding for Start-Up: Identify potential funding sources for your start-up phase. Your CDEM advisor can assist in finding suitable funding options.

5. Complete Training: Participate in the training sessions provided by the program. These sessions will help you understand how to start and manage your business effectively.

6. Submit Your Application: Once your business plan and documentation are ready, submit your application to the Self-Employment Benefit Program through your CDEM advisor.

7. Attend Monthly Meetings: After your application is approved, attend the monthly meetings organized by CDEM. These meetings provide networking opportunities and allow you to exchange ideas with other entrepreneurs.

8. Receive Ongoing Support: Utilize the follow-up counseling and support offered by CDEM to ensure your business plan stays on track and your business grows successfully.