Self-Employment Assistance
Highlights
This program is designed for you. It offers financial and entrepreneurial assistance to help you start your own business. You can receive support for up to 52 weeks, or 78 weeks if you have a disability. This means you have ample time to get your business off the ground with the backing you need.
Key Benefits:
- Extended Benefits: If you are currently receiving Employment Insurance, you can continue to receive these benefits until the end of your benefit period. After that, you may be eligible for a living allowance.
- Financial Assistance: You may receive help with living expenses, dependent care, disability needs, transportation, and accommodation.
- Comprehensive Support: The program covers various costs related to starting your business, ensuring you have the resources to succeed.
Applying is straightforward, and the support you receive can make a significant difference in your business journey. This program offers a unique opportunity to turn your entrepreneurial dreams into reality with robust government backing.
Financing Details
Type of Financing: Wage Subsidy
Repayment Terms and Interest Rates:
- There are no repayment terms or interest rates associated with this wage subsidy. It is a non-repayable financial assistance.
Eligible Expenses:
- Wages for new hires.
- Training costs for new employees.
- Employee benefits directly related to the new hires.
Ineligible Expenses:
- Existing employee wages.
- Operational costs unrelated to new hires.
- Capital expenditures such as equipment or office space.
Fees:
- There are no fees associated with applying for or receiving this wage subsidy.
Qualifications
- Must be an unemployed individual.
- Must have a current Employment Insurance (EI) claim or have had an EI benefit period established within the previous 60 months.
- Must complete a Request for Service Form.
Must develop an employment plan at a local Employment Centre.
Disqualifications:
- Individuals who are not unemployed.
- Individuals without a current or recent (within 60 months) EI claim.
Description
This program offers financial and entrepreneurial support to help you start your own business. You can receive financial assistance for up to 52 weeks, and if you have a disability, this extends to 78 weeks. This support can cover living expenses, dependent care, disability needs, transportation, and accommodation.
If you are currently receiving Employment Insurance (EI) benefits, you can continue to receive them until the end of your benefit period. After that, you may be eligible for a living allowance until the end of your Self-Employment Assistance agreement. If you are not receiving EI benefits, you may still be eligible for financial assistance for living expenses.
This program is designed to help you create a job for yourself by starting a business. It provides the financial support you need to focus on building your business without worrying about immediate income.
Program Steps
Complete a Request for Service Form: Start by filling out the Request for Service Form. This form is essential to initiate your application process.
Develop an Employment Plan: Visit your local Employment Centre to create a detailed employment plan. This plan will outline your business goals and strategies.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- Business plan
- Financial statements
- Proof of current Employment Insurance (EI) claim or documentation showing your benefit period ended within the last 60 months
- Any additional documents as specified by the Employment Centre
Submit Your Application: Once you have all the required documents and your employment plan, submit your application to the Department of Immigration, Population Growth and Skills.
Register in LaMPSS: If you are an organization, register in the Labour Market Programs Support System (LaMPSS). This system will allow you to apply online and manage your application.
Await Confirmation: After submitting your application, wait for confirmation from the Department. They will inform you if any additional information is needed.
Receive Assistance: If your application is approved, you will receive financial and entrepreneurial assistance to help you start your business. This may include continued EI benefits or a living allowance.
Follow Up: Stay in contact with your local Employment Centre and the Department to ensure you meet all ongoing requirements and receive the support you need.