Export Development Program
Highlights
The Export Development Program is designed specifically for businesses like yours in Nova Scotia. It offers financial incentives to help you increase sales outside the province and improve your competitiveness. This program can provide up to $15,000 CAD to support your business growth through two main streams: travel and trade missions, and hiring consultants or service providers.
Why should you apply?
- Expand your market: Travel to new markets, attend trade shows, and meet potential partners or investors.
- Expert assistance: Hire consultants to help overcome barriers to exporting, from market research to rebranding.
- Financial support: Offset costs associated with these growth activities, making it easier to take your business to the next level.
What's in it for you?
- Increased sales: Reach new customers and markets outside Nova Scotia.
- Improved competitiveness: Gain insights and strategies to stand out in the global market.
- Easy qualification: If your business is registered and based in Nova Scotia, you likely meet the criteria.
Applying is straightforward, and the benefits can significantly impact your business's growth and success.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment is required.
- No interest rates apply.
Eligible Expenses:
- Travel to markets outside Nova Scotia for client visits, potential partners, investors, or participation in government trade missions.
- Participation in in-person or virtual trade shows or conferences.
- Hosting foreign clients, potential partners, or investors at your Nova Scotia facilities.
- Hiring consultants or service providers to address challenges or barriers to exporting, including business matchmaking, market research, rebranding, and promotional material development.
Ineligible Expenses:
- The funds cannot be used for routine operational expenses or any activities not directly related to export growth.
Fees:
- There are no fees associated with this program.
Qualifications
- Must be a Nova Scotia registered business in good standing (current registration on the Registry of Joint Stock Companies).
- Must have a permanent establishment in Nova Scotia.
- Must have most of its workforce currently residing in Nova Scotia. (Some exceptions may apply where it can be demonstrated that the economic benefit can be accrued to Nova Scotia. Contact the Regional Business Development Advisor in your area to discuss.)
- Must be engaged in, or have imminent plans to engage in, commercial activities outside Nova Scotia, with fully developed exportable product(s), service(s), technology(ies), and/or intellectual property to the satisfaction of Invest Nova Scotia.
- Must have a business plan and a strategy to sell products/services outside Nova Scotia outlining the business’s target market and distribution channels and challenges in the target market and how they will be overcome.
- Must have no outstanding or pending claims/litigation, injunctions, judgments, orders, legal or administrative actions, or similar proceedings against the business, its principals and/or any related business(es). (Some exceptions may apply. Contact the Regional Business Development Advisor in your area to discuss.)
- The business, principals and/or any related business(es) shall not be in default of any obligations under any other form of financial assistance and/or incentive program from Invest Nova Scotia, the Province of Nova Scotia, or by any agency of the Province of Nova Scotia. For purposes of this criteria, the Credit Union Small Business Loan Guarantee Program is considered a form of financial assistance provided by the Province of Nova Scotia.
- Businesses and their related entities may be limited to funding for one business only at Invest Nova Scotia’s sole discretion.
Description
The Export Development Program (EDP) offers financial incentives up to $15,000 CAD to help your business grow outside Nova Scotia. This program is designed to boost your sales, improve competitiveness, and positively impact the local economy.
Stream 1 covers costs for travel, trade shows, conferences, and trade missions. You can use this to:
- Travel to markets outside Nova Scotia to meet clients, partners, and investors.
- Participate in trade shows or conferences, both in-person and virtual.
- Host foreign clients, partners, or investors at your Nova Scotia facilities.
Stream 2 allows you to hire consultants or service providers to tackle challenges in selling your products or services outside Nova Scotia. This can include:
- Business matchmaking and market research.
- Re-branding your company logo and developing new promotional materials.
This program is a great opportunity to expand your business reach and overcome export barriers. The financial support can be used for various projects to help you succeed in new markets.
Program Steps
Gather Required Documentation:
- Business registration details
- Proof of permanent establishment in Nova Scotia
- Business plan and export strategy
- Financial statements
- Details of any previous financial assistance from the Province of Nova Scotia
Read Program Guidelines and FAQ:
- Review the Export Development Program Guidelines
- Read the Export Development Program FAQ to understand all requirements and eligible costs
Prepare Project Details:
- Outline the project scope, objectives, and expected outcomes
- Determine the specific stream you are applying for: Travel, Trade Shows, Conferences, and Trade Missions or Consultant/Service Provider
Complete Two-Step Identity Verification:
- Enter your Invest Nova Scotia Customer Number and associated email address
- Enter the one-time code received to verify your identity
Fill Out the Online Application Form:
- Select the appropriate application form for your stream
- Provide detailed information about your project and how it aligns with the program’s objectives
Submit the Application:
- Review all entered information for accuracy
- Submit the completed application form online
Wait for Application Review:
- The application will be reviewed to ensure it meets all criteria
- Be prepared to provide additional information if requested
Receive Approval and Funding:
- Upon approval, discuss the final terms and conditions
- Receive the funding to proceed with your project
Submit a Claim:
- For projects ending March 31, 2024, or March 31, 2025, submit a claim form to access the funds
Contact Regional Business Development Advisor:
- If this is your first time applying or if you need assistance, contact your Regional Business Development Advisor for guidance and support
