Export Market Access Program (EMAP)
Highlights
This program is designed to help your business expand into international markets. You can receive up to $15,000 in financial assistance to cover costs like market research, strategy development, lead generation, and digital advertising. This funding is provided as a reimbursement, meaning you will need to cover the costs upfront but will be reimbursed once the project is complete.
Key benefits include:
- Up to 45% reimbursement of eligible costs
- Support for a wide range of activities such as social media strategy, SEO, and export-focused website additions
- Access to expert consultants for coaching and strategy development
Applying for this program can significantly boost your export efforts, helping you reach new markets and grow your business. The application process is straightforward, and you will be notified of the outcome within two weeks. This is a valuable opportunity to gain financial support and expert guidance to enhance your international presence.
Financing Details
Type of Financing: Reimbursement
Repayment Terms and Interest Rates:
- No repayment terms or interest rates. The program provides funds as a reimbursement after project completion.
Eligible Expenses:
- Market research or export plan development
- Lead generation activities
- Sales activities, including mapping the sales process and creating a sales playbook
- Translation
- Paid online advertising campaigns
- Social media strategy
- Videos
- Training, coaching, or mentoring on any of the above activities
- Other activities that support export growth (subject to approval)
Ineligible Expenses:
- Consultant travel and trade show attendance fees
- Costs associated with participating in a trade show
- Printing of brochures
- Production of trade show booths
- HST
Fees:
- No fees associated with the program.
Qualifications
- Must be a small or medium-sized enterprise (SME).
- Must have a Canada Revenue Agency Business Number.
- Business must be operating in Prince Edward Island.
Currently exporting or planning to start exporting.
Disqualifications:
- Businesses in the retail/wholesale sector.
- Real estate businesses.
- Government services.
- Personal or social services.
- Softwood lumber industry.
- Professional services such as marketing firms, creative agencies, business or fitness coaches (unless the project represents a unique and/or strategic opportunity with potential economic benefit to Atlantic Canada).
Description
This program offers financial assistance to help your business market products internationally. You can receive up to $15,000 to cover eligible costs. The program reimburses 45% of your project costs, so for a $5,000 project, you get back $2,250. For larger projects, the maximum reimbursement is $15,000.
You can use the funds for various activities like market research, strategy development, lead generation, sales activities, export-focused website additions, SEO, digital ads, social media strategy, and coaching. This support can help you expand your reach and grow your business in new markets.
To qualify, your total project costs must be over $5,000, and you need to cover at least 25% of the costs yourself. The program reimburses you after you complete the project and submit your claim. This means you need to pay for everything upfront, but you get a significant portion back once the project is done. All projects must be completed within six months.
Program Steps
Gather Required Documentation:
- Canada Revenue Agency Business Number
- Business plan outlining export activities
- Consultant proposals for planned activities
- Financial statements
- Proof of business operations in Prince Edward Island
Complete the Online Application Form:
- Visit the program’s website and fill out the application form.
- Ensure all sections are completed accurately.
Attach Supporting Documents:
- Upload the consultant proposals.
- Attach your business plan and financial statements.
- Include any additional documents that support your application.
Submit the Application:
- Review all information for accuracy.
- Submit the completed application form and supporting documents online.
Wait for Evaluation:
- The program administrators will review your application.
- You will be notified of the outcome, typically within two weeks.
Sign the Contract:
- If approved, you will receive a contract from LearnSphere.
- Review and sign the contract to formalize your participation.
Select and Engage Consultants:
- Choose consultants who are at arm’s length from your company.
- Ensure their fees are at fair market value.
- Use the sample statement of work as a guide.
Implement the Project:
- Work with your selected consultants to carry out the approved activities.
- Ensure all work is completed to a satisfactory standard.
Pay Project Costs:
- Cover all project expenses upfront, including HST.
- Keep detailed records of all payments.
Submit a Claim for Reimbursement:
- Once the project is complete, compile all receipts and proof of payment.
- Submit a claim to LearnSphere for reimbursement of eligible costs.
Receive Reimbursement:
- After your claim is reviewed and accepted, you will be reimbursed up to 45% of eligible costs, to a maximum of $15,000.