Competitiveness Consulting Rebate
Highlights
The Competitiveness Consulting Rebate program is designed specifically for small and medium-sized businesses like yours. This program offers a rebate of up to 50%, with a yearly maximum of $30,000, to help cover the costs of external business consulting projects. These projects can focus on increasing your business's resiliency, productivity, revenues, profitability, and job creation.
Why should you apply?
- Significant Financial Support: Recover up to 50% of your consulting costs.
- Tailored Consulting Services: Get customized advice to improve various aspects of your business.
- Boost Business Growth: Enhance your operations, marketing strategies, and workplace safety plans.
What's in it for you?
- Better Financing Terms: Unlike traditional loans, this rebate does not need to be repaid.
- Easy Qualification: If your business is privately owned, incorporated, and has less than 500 employees, you likely qualify.
- Increased Competitiveness: Use the rebate to make strategic improvements that can lead to higher profitability and job creation.
Applying for this program can provide the financial boost and expert guidance your business needs to thrive.
Financing Details
Type of Financing: Rebate
Repayment Terms:
- No repayment is required as this is a rebate.
Eligible Expenses:
- External business consulting projects.
- Projects must focus on:
- Increased resiliency
- Productivity
- Revenues
- Profitability
- Job creation
Use of Funds:
- The funds can be used to cover up to 50% of the cost of eligible consulting projects.
- Maximum rebate amount is $30,000 per year.
Restrictions:
- Funds cannot be used for any expenses outside of the specified consulting projects.
Fees:
- There are no fees associated with this rebate program.
Qualifications
- Must be a small or medium-sized business.
- Must be located/headquartered within the Northern Development Initiative Trust region.
- Must be privately owned.
- Must be incorporated.
- Must have less than 500 employees.
- Must have revenues less than $100 million.
- First Nations businesses in eligible industries are qualified.
- First Nations development corporations are qualified.
- Not-for-profit organizations whose sole purpose is to create jobs and economic benefit in their industry (e.g., community forests) are qualified.
Community contribution companies are qualified.
Disqualifications:
- Businesses not located/headquartered within the Northern Development Initiative Trust region.
Description
This program offers your business a rebate of up to 50% on the cost of external business consulting projects, with a maximum of $30,000 per year. This means you can get half of your consulting expenses back, which can significantly reduce your costs.
The consulting services should aim to improve your business in areas like resiliency, productivity, revenues, profitability, and job creation. For example, you could use the rebate for developing a marketing strategy, creating a customized workplace health and safety plan, or improving operational efficiencies.
To qualify for the rebate, you must contribute at least 25% of the project budget. This ensures that you are also invested in the success of the project. This program is a great opportunity to enhance your business operations while sharing the financial burden with the government.
Program Steps
Request an Application Form: Contact Northern Development staff via email at [email protected] to request an application form. Discuss your proposed project and confirm your eligibility for the funding program.
Prepare Required Documentation: Gather the necessary documents to support your application. These include:
- Financial statements
- Business plan
- Project budget
- Quotes for consulting services
- Any additional documents that demonstrate the project's focus on resiliency, productivity, revenue, profitability, or job creation.
Complete the Application Form: Fill out the application form with detailed information about your business and the consulting project. Ensure all sections are completed accurately.
Submit the Application: Send the completed application form and all required documentation to Northern Development staff. This can be done via email or through any other specified submission method.
Review and Follow-Up: After submission, Northern Development staff will review your application. Be prepared to provide additional information or clarification if requested.
Approval and Rebate Processing: If your application is approved, you will receive a rebate of up to 50% of the consulting project costs, to a maximum of $30,000 per year. Ensure you comply with any reporting requirements to facilitate rebate processing.