Business Development Program

Overview of the Business Development Program program:

The Business Development Program (BDP) supports small and medium-sized enterprises (SMEs) and non-profit organizations in New Brunswick, Newfoundland and Labrador, Nova Scotia, and Prince Edward Island. The program provides financial assistance to help businesses increase competitiveness, improve productivity, and expand into new markets. It also funds projects that support business innovation, technology adoption, and workforce development. Funding is available in the form of repayable contributions (interest-free loans) for businesses and non-repayable contributions (grants) for non-profit organizations. Eligible activities include business expansion, market research, technology adoption, skills training, and business modernization. The program aims to support projects that create sustainable economic development and long-term job opportunities in Atlantic Canada.

Benefits of the Business Development Program program:

• Financial support for business growth (expansion, modernization, market development).
• Technology adoption and innovation funding to help businesses stay competitive.
• Support for non-profits in developing economic development initiatives.
• No-interest loans for businesses, reducing financial burden.
• No-repayment grants for non-profits, allowing them to implement impactful projects.
• Workforce training and skills development support to improve business efficiency.

Eligibility criteria of the Business Development Program program:

• Eligible applicants include:
• Small and medium-sized enterprises (SMEs) operating in Atlantic Canada.
• Non-profit organizations, industry associations, and economic development groups.
• Businesses must demonstrate growth potential and contribute to regional economic development.
• Projects must align with ACOAs goals, such as business expansion, export growth, workforce training, innovation, or technology adoption.