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Enterprise Saint John ~ Inspiring people, ideas & investment
 

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Financing

Financing

Financing the business is one the key components to getting a business started. Funding can come from government programs, private institutions and persona networks. In almost all of the cases personal equity will be a requirement.

Investment Incentive Programs
 

 Strategic Assistance Programs
 Tax Credits
 Hiring & Workforce Assistance Programs
 Training Opportunities and Business Support Programs
   Youth Specific Business Loans
 Business Start-Up & Expansion Financing Programs
 Trade Assistance Programs
Banks

 

 


Strategic Assistance Programs

Atlantic Canada Opportunities Agency (ACOA) 

National Research Council - Industrial Research Assistance Program (NRC-IRAP)
This fund helps small and medium-sized enterprises in Canada to grow stronger, grow faster and grow bigger through innovation and technology. 

New Brunswick Innovation Foundation

  • New Brunswick Innovation Foundation Research Innovation Fund
    The Research Innovation Fund [RIF] is designed to advance the province’s research community’s capacity to develop innovations that can be commercialized and have economic impact New Brunswick.
  • New Brunswick Innovation Foundation Start-up Grants
    The RIF provides start-up grants for up to $100,000 for hiring outstanding professors and researchers, and investing in some of the resources necessary to succeed in developing innovative products and services.
  • New Brunswick Innovation Foundation Venture Capital Fund 
    If your business fits one of the foundations “Strategic Industries” they can make a venture capital investment in your firm. Companies that satisfy our criteria are typically high risk, growth-oriented businesses that have proven their concept and are on the verge of taking it to market.

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Tax Credits

Federal Investment Tax Credit
Deducted from federal tax payable, this credit is 10 percent of net investment in equipment and buildings in manufacturing, processing, mining, oil and gas, logging, farming, and fishing. This credit applies only in the Atlantic Provinces and Quebec’s Gaspé region.

Scientific Research and Experimental Development (SR&ED) Tax Incentive Program 
The SR&ED program gives claimants cash refunds and/or tax credits for their expenditures on eligible R&D work done in Canada.

Film Industry Tax Credits

Provincial Research & Development Tax Credits

  • New Brunswick Research & Development Tax Credit  
    This credit is 15% and is fully refundable, meaning that the credit benefits New Brunswick corporations even if the corporation does not have provincial taxes owing.
  • Provincial Sales Tax Rebate 
    New Brunswick has combined its provincial sales tax rate with the federal sales tax rate, resulting in the new HST (harmonized sales tax). The entire 13 percent sales tax (or value-added tax (VAT)) on business inputs and purchases is a refundable tax credit for most businesses in New Brunswick.

Foreign Tax Credit
Corporations which have foreign source income and are resident in Canada at any time in the year are eligible for a credit on foreign taxes paid. A credit is allowed against Canadian tax payable for the lesser of the foreign tax paid and the Canadian tax on the foreign source income.

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Hiring & Workforce Assistance Programs

Workforce Expansion Program 
The Workforce Expansion program provides financial wage subsidy assistance to eligible employers for the hiring of new employees.

The Work Ability Program 
This program provides a wage reimbursement equal to minimum wage (to a maximum of 40 hours per week), plus the employer’s share of benefits, to eligible employers who hire unemployed individuals

Employment Services - Adjustment Services 
Adjustment Services provides funding to various groups in an effort to improve their capacity for dealing with human resource requirements and to implement labour force adjustments.

Student Employment and Experience Development [SEED] 
SEED provides employers who offer students work during the summer months with a supplement equal to the minimum wage rate per hour.

Workplace Essential Skills (WES
This training maximizes the skills and resources of New Brunswickers to ensure the competitive edge, innovation and efficiency needs to lead business into a prosperous future.

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Training Opportunities and Business Support Programs

Women in Business New Brunswick
This is a federally-funded initiative to assist women entrepreneurs with access to resources, networking and training.

Wallace McCain Institute
The G. Wallace F. McCain Institute at the University of New Brunswick offers two important programs to help entrepreneurs grown their businesses - the Entrepreneurial Leadership Program, and the Entrepreneurs Forum.

21Inc 
21inc focuses on young people in their 20s and 30s from all sectors, providing them with the tools, networks with peers, and established leaders, and confidence to become effective 21st Century leaders.

Canada Revenue Agency 
The Agency holds seminars throughout the province to inform business owners of their responsibilities for reporting to government with respect to HST, payroll, and other requirements.

Saint John Board of Trade
This local business association has ongoing training seminars and workshops for members and sometimes non-members.

UNB offers a Professional Development Series of seminars for businesses throughout the year both in Saint John and in Fredericton.

Workforce Expansion 
 This is a program that provides a wage subsidy to eligible employers to stimulate the creation of long-term employment opportunities for unemployed individuals.

Work Ability 
This is a program that provides a wage reimbursement equal to minimum wage (to a maximum of 40 hours per week), plus the employer’s share of benefits, to eligible employers who hire unemployed individuals

Student Employment and Experience Development (SEED)
This is a program provides employers who offer students work during the summer months with a supplement equal to the minimum wage rate per hour.

ProfitLearn 
ProfitLearn brings practical, ready-to-use workshops to entrepreneurs, business owners, managers, and staff. Facilitators are leaders in their respective fields, offering management tools, tips, and techniques that they’ve tested within their own practical business experience.

BizLaunch 
BizLaunch helps new entrepreneurs succeed through education and training. The company has advised over 20,000 new entrepreneurs worldwide, and works with over 40 regional BizLaunch Small Business Trainers located in cities across the country.

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Youth Specific Business Loans

Canadian Youth Foundation (CYBF) 
The CYBF provides young people between 18-34 years of age with information and financial to assist with running a business.

Student Entrepreneurship Loan (SEED) Loan
This loan provides students 16 years and older with interest free business loans to assist with the running of a summer business.

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Business Start-Up & Expansion Financing Programs

A comprehensive list of public funds available to help you start or grow your business.
 
The Seed Capital Program provides loans to start, expand or improve a small business, as well as acquire business skills training.  A maximum of $20,000 per applicant may be administered.  Enterprise Saint John manages the loan's administration in the Greater Saint John area.

New Brunswick Growth Program 
Receive up to $100,000 in financing for the establishment of a new business or up to $60,000 for the expansion, diversification or improvement of productivity or competitiveness of an existing business.

First Angel Network - Halifax-based Angel Investor Network

Atlantic Canada Opportunities Agency (ACOA) - Business Development Program (BDP)
This ACOA program assists with financing the start-up, expansion or modernization of your business.  Focusing on small and medium sized enterprises, the program offers access to interest free, unsecured loans.

Workforce Expansion Program  
The Workforce Expansion program provides financial wage subsidy assistance to eligible employers for the hiring of new employees.

Offers assistance for start-up and expansion financing.

Private Venture Capital Firms

  • Canadian Venture Capital Association Member Directory
    • This section of the CVCA website lists the members of the CVCA. Membership in the CVCA is not an endorsement of the member by the CVCA. The CVCA will have no liability to you for your dealings with any member.
  • First Angel Network
    • The First Angel Network Association (FAN) is a not-for-profit organization to bridge the gap between entrepreneurs and capital in Atlantic Canada
  • GrowthWorks Atlantic Fund
    • GrowthWorks is Canada's leader in venture capital investing.* We specialize in the management and growth of regionally based venture capital funds (RVCs) and have assets of approximately $600 million.
  • National Angel Organization
    • Our mission is to increase the quantity, quality, and success of Angel investments in Canada, thus creating a greater pool of capital for innovative start-up companies.

National Granting Agencies

  • Canada Foundation for Innovation (CFI)
    • The Canada Foundation for Innovation (CFI) is an independent corporation created by the Government of Canada to fund research infrastructure. The CFI's mandate is to strengthen the capacity of Canadian universities, colleges, research hospitals, and non-profit research institutions to carry out world-class research and technology development that benefits Canadians.
  • Canada Research Chairs (CRC)
    • The Canada Research Chairs program invests $300 million per year to attract and retain some of the world's most accomplished and promising minds.
  • Canadian Institute for Health Research (CIHR)
    • CIHR provides funding opportunities for four themes of health research: Biomedical, Clinical, Health systems services Social, cultural, environmental and population health.
  • Natural Sciences and Engineering Research Council of Canada (NSERC)
    • NSERC aims to make Canada a country of discoverers and innovators for the benefit of all Canadians. The agency supports university students in their advanced studies, promotes and supports discovery research, and fosters innovation by encouraging Canadian companies to participate and invest in postsecondary research projects. NSERC researchers are on the vanguard of science, building on Canada’s long tradition of scientific excellence.
  • Networks of Centres of Excellence (NCE)
    • The NCE Secretariat fosters multi-disciplinary, multi-sectoral partnerships between universities, industry, government and non-governmental organizations. It supports academic research, the commercialization of products and ideas, and the development of significant Canadian business advantages.
  • Social Sciences and Humanities Research of Canada (SSHRC)
    • The Social Sciences and Humanities Research Council (SSHRC) is the federal agency that promotes and supports university-based research and training in the humanities and social sciences.
  • Sustainable Development Technology Canada (SDTC)
    • Sustainable Development Technology Canada (SDTC) is a not-for-profit foundation that finances and supports the development and demonstration of clean technologies which provide solutions to issues of climate change, clean air, water quality and soil, and which deliver economic, environmental and health benefits to Canadians.

Business New Brunswick

  • Technology Adoption and Commercialization Program
    • Assistance to manufacturers, processors, information and communication technology, bio-science and first of its kind exportable services may be considered in other sectors in financial support of the technological innovation and pre-commercial product development needs. Assistance is limited to up to 40% of eligible costs, to a maximum of $15,000.
  • Trade Assistance Program
    • The Trade Assistance Program (TAP) is intended to introduce New Brunswick companies to exporting and to assist in the development of "New" export markets outside of Atlantic Canada.

New Brunswick Investment Management Corporation

  • Atlantic Opportunities Private Equity Fund
    • The fund seeks to take advantage of its location in, and knowledge of the, Atlantic region and its economy. We are interested in stimulating the growth in the region's financial services industry and capital markets through our investing activity.

Canada Business

  • Trade Assistance Program
    • Get introduced to exporting and obtain financial assistance to develop new export markets. To be eligible, your company must process, manufacture or produce a bona fide exportable product, service, technology or intellectual property.

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Trade Assistance Programs
 
Get introduced to exporting and obtain financial assistance to develop new export markets. To be eligible, your company must process, manufacture or produce a bona fide exportable product, service, technology or intellectual property.
 
The Export Partnering Program (EPP) is an initiative designed to help small-and medium-sized businesses with little or no exporting experience to successfully enter strategic international markets.
 
LearnSphere offers the Training and Consulting Services for Trade (TCS-T) Program established by LearnSphere in collaboration with ACOA, targeted at helping small businesses in the area of trade.
 
 
Banks

When negotiating with your bank, you should be aware that your banker will look for 4 key items in your loan application. They are listed below in order of importance:

  1. Management capacity: Banks assess the borrower’s ability to run the business. A banker will want to know if the borrower has the appropriate background, education and experience to run their business. A banker will also assess the borrowers commitment to the business, analyze how well prepared the applicant is and his or her credit history.
  2. Ability to repay: Banks will want to make sure the borrower will have the ability to repay the loan. They determine this by looking at your projected income statement and cash flow projections.
  3. Equity: Banks will not want to assume all of the risk. They will want to know how much investment the borrower is contributing to the company. The rule of thumb is, the bank will not usually lend you more than $3 or $4 for every $1 you personally invest in your venture. It is recommended that you do not invest all of your personal equity into your venture so you can have a “safety stash” for any unexpected expenses.
  4. Security: Banks almost always require small business owners to personally guarantee loans and look to have the assets being financed pledged as security.

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True Growth 2.0
> Charting Our Renaissance True Growth 2.0
> Economic Development Goals
1. Urban Development
2. Transportation Hub
3. Labour Force Attraction, Readiness and Retention
4. Enhanced Entrepreneurial and Innovative Culture
5. Integrated Community Communications Strategy

> Key Sectors
1. Health and Life Sciences
2. Information and Communications Technology
3. Advanced Manufacturing / Industrial Fabrication
4. Energy
5. Financial, Insurance and Professional Services
6. Tourism

Invest
Plan
> Are You an Entrepreneur?
> Writing a Business Plan
> Parts of a Business Plan

Start
> Financing
> Naming Your Business
> Business Registration
> Business Number
> Business License & Permits
> Hiring Employees

> Setting Up an Accounting System
> Intellectual Property
> Location
> Insurance
> Trade or Member Associations
> Buying a Business
> Franchising

Manage & Grow
> Keeping Good Records
> Managing Employees
> Networking
> Training Opportunities
> Marketing Your Business
> Maintaining Work/Life Balance
> Are You Ready to Expand?
> Finances for Expansion

Transition
> Preparing an Exit Strategy

> Youth Entrepreneurs
> Arts Entrepreneurs
> Invest in Saint John

 

work
Workforce
> Workforce Development
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> Ongoing Workforce Initiatives & Events

> Labour Market Information
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Finding Work
> List of Online Job Sites
> Major Employers in Saint John

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   Newcomers Resource Centre Inc.

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