Small Business Recovery Consulting Rebate
Highlights
The Small Business Recovery (SBR) Consulting Rebate program is designed specifically for businesses like yours. This program offers a rebate of up to 85% on consulting services, with a yearly maximum of $30,000. This means you can access professional expertise to help sustain and grow your business without bearing the full cost. Whether you need help with business planning, market development, or operational efficiency, this program can cover a significant portion of those expenses.
Why should you apply? This program can help you recover and thrive by reducing the financial barrier to accessing expert advice. By getting reimbursed for consulting services, you can focus on improving your business operations, developing new markets, and enhancing your overall profitability. The funding terms are generous, and the application process is straightforward, making it easier for you to qualify and benefit from this opportunity.
What's in it for you? By being approved for this program, you gain access to high-quality consulting services that can make a real difference in your business. The rebate allows you to invest in critical areas like strategic planning, digital transitions, and financial management without straining your budget. This support can help you navigate economic challenges and position your business for long-term success.
Financing Details
Type of Financing: Rebate
Repayment Terms and Interest Rates:
- This program offers a rebate, which means you do not need to repay the funds. There are no interest rates associated with this rebate.
Eligible Expenses:
- The rebate can be used to cover the costs of third-party consulting services. These services must focus on:
- Business planning and strategic planning
- Business continuity and emergency response planning
- Market development and e-commerce development
- Business coaching
- Human resource management
- Operations/operational efficiency/process improvement or changes (e.g., transition to digital platforms)
- Quality and safety management
- Cash flow and financial management systems
- Inventory management
- Marketing strategies, brand development/evolution, and web development
Ineligible Expenses:
- The funds cannot be used for any expenses outside of the specified consulting services. This includes but is not limited to:
- General operational costs
- Capital expenditures
- Salaries or wages of your employees
Fees:
- There are no fees associated with this rebate program.
Qualifications
- Must be a small or medium-sized business.
- Must be located/headquartered within the Northern Development Initiative Trust region.
- Must be impacted by the economic downturn.
- Must be an incorporated business or a sole proprietorship established for two or more years.
- Must have more than $30,000 in annual revenues.
- Must be an operating business with revenue.
- Must be privately owned.
- Must have less than 500 employees.
- Must have revenues less than $100 million.
- First Nations businesses in eligible industries are qualified.
- First Nations development corporations are qualified.
Community contribution companies are qualified.
Disqualifications:
- Businesses not located within the Northern Development Initiative Trust region.
- Businesses with less than $30,000 in annual revenues.
- Businesses with more than 500 employees.
- Businesses with revenues exceeding $100 million.
Description
This program offers your business a rebate of up to 85% of consulting costs, with a yearly maximum of $30,000. This means if you spend $1,000 on consulting, you can get $850 back.
You can use this money to hire experts for various projects that help your business. This includes business planning, market development, and improving operations. The goal is to help your business get back to its best performance, especially if you've been affected by economic downturns or other disruptions.
The rebate is a great way to reduce the cost of professional advice, making it easier for you to invest in your business's future. By taking advantage of this program, you can access high-quality consulting services without breaking the bank.
Program Steps
Request an Application Form: Contact Northern Development staff via email at [email protected] to request an application form. Discuss your proposed project and confirm eligibility for the funding program.
Prepare Documentation: Gather the necessary documents to support your application. These include:
- Business financial statements
- Business plan
- Details of the intended consulting project
- Quotes or contracts from third-party consultants
Complete the Application Form: Fill out the application form with accurate and detailed information about your business and the consulting project.
Submit the Application: Send the completed application form and all required documentation to Northern Development staff via the provided contact methods.
Review and Follow-Up: After submission, Northern Development staff will review your application. Be prepared to provide additional information or clarification if requested.
Approval and Reimbursement: If your application is approved, you will receive a rebate of up to 85% of the consulting project costs, up to a yearly maximum of $30,000. Ensure you keep all receipts and documentation for the project to facilitate the reimbursement process.