Consulting Advisory Services
Highlights
This program is a great opportunity for your business to access affordable consulting services. It covers up to 75% of professional fees and costs, with a maximum of $5,000 in financial assistance. This means you can get expert advice without breaking the bank. The program is designed to be easily adapted to your needs, ensuring a quick turnaround time.
What You Get
- Diagnostic Assessment: Analyze your current performance and identify key issues and future prospects.
- Business Management Skills Development: Enhance management practices and skills within your business.
- Trade Assessment: Explore new markets, develop marketing strategies, and improve distribution.
- Competitiveness Assessment: Improve productivity, operational efficiency, and innovation.
- Access to Capital: Get help developing a business plan and finding potential sources of capital.
By participating in this program, you will receive a detailed action plan from a professional consultant, tailored to your specific challenges and opportunities. This will help you stimulate growth, improve competitiveness, and access new markets. The application process is straightforward, making it easy for you to qualify and start benefiting from expert advice.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
Eligible Expenses:
- Up to 75% of professional fees and costs.
- Maximum of $5,000 available in financial assistance.
Use of Funds:
- Diagnostic Assessment: Analyze current performance and identify growth opportunities.
- Business Management Skills Development: Enhance management practices and skills.
- Trade Assessment: Evaluate export readiness, market potential, and trade strategies.
- Competitiveness Assessment: Improve productivity, innovation, and operational efficiency.
- Access to Capital: Develop business plans and adhere to capital criteria.
Ineligible Expenses:
- HST is not reimbursed by this program.
Fees:
- No fees associated with the program.
Qualifications
- Must be a small business or a not-for-profit organization.
- Business must be located in St. John's or Mount Pearl.
Must be seeking to address specific challenges, deficiencies, or opportunities through consulting services.
Disqualifications:
- Businesses or organizations located outside St. John's or Mount Pearl.
Description
This program offers your business up to $5,000 to cover the costs of hiring a professional consultant. This can be a great help if you need expert advice to tackle specific challenges, improve your operations, or explore new opportunities.
The program covers up to 75% of the consultant's fees, making it affordable to get the help you need. Whether you need a diagnostic assessment, business management skills development, trade assessment, competitiveness assessment, or help accessing capital, this program has you covered.
The consultant will provide a detailed report with recommendations to stimulate growth and improve your business. This tailored advice can help you boost productivity, enter new markets, or enhance your competitiveness. The quick turnaround time ensures you get the support you need when you need it.
Program Steps
Meet with a Metro Business Opportunities Staff Member: Schedule a meeting with a Metro Business Opportunities (MBO) staff member to discuss the application process and ensure you understand the program's requirements.
Identify Specific Needs: Determine the specific challenges, deficiencies, or opportunities within your business that you want to address with the help of a consultant.
Select a Consultant: Choose a professional consultant who can help address your identified needs. Ensure they are willing to work within the program's budget and guidelines.
Prepare Documentation: Gather the necessary documents for your application. This includes:
- Business plan
- Financial statements
- Consultant's proposal
- Detailed description of the specific challenge, deficiency, or opportunity you aim to address
Develop Consultant Proposal: Work with your chosen consultant to develop a detailed proposal. This should outline the scope of work, expected outcomes, and a budget within the program's limits.
Submit Application and Proposal: Submit your completed application form along with the consultant's proposal to an MBO Client Services Officer. Ensure all required documentation is included.
Application Review: The MBO Client Services Officer will review your application and proposal. They may request additional information or clarification during this process.
Approval and Contract Issuance: If your application is approved, a contract will be issued to the consultant. The consultant must sign and return the contract to MBO within 10 business days.
Consultant Begins Work: Once the contract is signed, the consultant can begin work on the agreed-upon tasks.
Submit Final Report and Invoice: After the consultant completes their work, submit the consultant's final report, their invoice, and a client evaluation form to the MBO Client Services Officer.
Receive Reimbursement: MBO will forward 75% of the consultant's fee (up to a maximum of $5000) to the consultant. Note that taxes are not reimbursable through this program.