Government Funding Programs for NL Outfitters
The Business Development Support Program assists Newfoundland and Labrador SMEs with opportunities to increase their productivity and improve their competitiveness. The program supports SMEs who demonstrate a desire to develop and grow by improving the operations of the business, investing in its people, and focusing on trade opportunities. BTCRD assistance will be targeted towards businesses in strategic sectors that normally focus on export markets and/or improve import substitution. Funding is available for productivity improvements, knowledge development, market development and/or professional technical advice.
The Business Development Support Porgram is in the form of a non-repayable contribution(s) to a maximum amount of $100,000 per government fiscal year. The contribution level will be based on 50 per cent of eligible costs, with the business identifying their access to the remaining 50 per cent to complete the project(s).
Eligible applicants must normally:
Be a small and medium-sized enterprise (SME) based and operating in Newfoundalnd and Labrador having fewer than 100 employees and less than $10 million in sales.
Demonstrate its ability to undertake the work identified in the project proposal.
Demonstrate its ability to access the financial capital required to complete the project.
Operate in a strategic sector as defined by BTCRD.
Be in good standing with the Government of Newfoundland and Labrador.