Northern Indigenous Economic Opportunities Program (NIEOP) — Entrepreneurship and Business Development
Highlights
This program is designed specifically for Indigenous entrepreneurs and businesses like yours. It offers project-based support to help you establish or grow your business. By participating, you can access local and regional economic opportunities across various sectors, enhancing your business environment.
Key Benefits:
- Increased access to capital for your business
- Supportive business environment tailored for Indigenous entrepreneurs
- Promotion of entrepreneurship within Indigenous communities
Why Apply?
- Financial Assistance: The program provides funding to help you with essential business activities.
- Local Support: Connect with regional Service Delivery Partners (SDPs) for personalized assistance.
- Ease of Access: The application process is straightforward, and you can get help from approved SDPs.
By being approved, you will gain the financial support and resources needed to thrive, making it easier to achieve your business goals. Reach out to one of the regional offices or email [email protected] to get started.
Financing Details
Type of Financing: Grant
Repayment Terms and Interest Rates:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Business start-up costs.
- Business expansion activities.
- Market development and marketing costs.
- Purchase of equipment and technology.
- Training and skills development for employees.
Ineligible Expenses:
- Personal expenses.
- Debt repayment.
- Real estate purchases.
- Any expenses not directly related to the business project.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be an Indigenous entrepreneur or Indigenous business.
- Business must be located in one of the following territories:
- Nunavut (Qikiqtaaluk)
- Nunavut (Kivalliq)
- Northwest Territories
- Yukon
- Must seek project-based support for activities that help establish or grow the business.
Must connect with one of the CanNor approved Service Delivery Partners (SDPs) for assistance with the application:
- Nunavut (Qikiqtaaluk) Kakivak Association
- Nunavut (Kivalliq) Kivalliq Inuit Association
- Northwest Territories - Metis Dene Development Fund
- Yukon - däna Näye Ventures
Disqualifications:
- Businesses not owned by Indigenous entrepreneurs or Indigenous communities.
- Businesses located outside of the specified territories (Nunavut, Northwest Territories, Yukon).
Description
This program offers project-based support to help Indigenous businesses grow or get started. You can receive funding to boost your business activities, making it easier to establish or expand your operations.
Key benefits include:
- Increased access to capital, which means you can get the funds you need to invest in your business.
- Supportive business environment, providing resources and assistance tailored to Indigenous entrepreneurs.
- Enhanced local and regional opportunities, helping you tap into economic prospects in various sectors.
By participating in this program, you can strengthen your business foundation and take advantage of new opportunities for growth.
Program Steps
Contact a Service Delivery Partner (SDP): Reach out to one of the CanNor approved SDPs in your region for assistance with your application. Here are the contacts:
- Nunavut (Qikiqtaaluk): Kakivak Association at [email protected] or 867-979-0911
- Nunavut (Kivalliq): Kivalliq Inuit Association at Kivalliqinuit or 867-645-5725
- Northwest Territories: Metis Dene Development Fund at [email protected] or 867-873-9341
- Yukon: däna Näye Ventures at däna Näye Ventures (dananaye.com) or 867-668-6925
Request an Application Form: Email [email protected] or contact your regional SDP to request the application form for the EBD program.
Prepare Necessary Documentation: Gather and prepare the following documents to support your application:
- Business Plan: Outline your business goals, strategies, and financial projections.
- Financial Statements: Include recent balance sheets, income statements, and cash flow statements.
- Proof of Indigenous Ownership: Provide documentation verifying that your business is Indigenous-owned.
- Project Proposal: Detail the specific project or activities for which you are seeking funding.
- Quotes or Estimates: Include quotes for any equipment, services, or materials needed for the project.
Complete the Application Form: Fill out the application form with accurate and detailed information about your business and the proposed project.
Submit the Application: Send the completed application form along with all required documentation to your regional SDP or the appropriate contact provided.
Follow Up: Stay in touch with your SDP or CanNor contact to ensure your application is being processed and to provide any additional information if requested.
Await Approval: Once your application is reviewed, you will be notified of the decision. If approved, you will receive details on the funding and any next steps required to proceed with your project.