Entrepreneur Development Fund (SBSP)

Overview of the Entrepreneur Development Fund (SBSP) program:

The Small Business Support Program (SBSP) is one of several funding streams within Nunavut’s Entrepreneur Development Fund, managed by the Department of Economic Development and Transportation. This program is designed to encourage the growth and sustainability of Nunavut-based small businesses by providing direct financial assistance to help with business start-up costs, expansion projects, equipment purchases, marketing, training, and other operational needs. Through SBSP, eligible applicants can access contributions of up to $5,000 per application, with the possibility of applying more than once per year, depending on the nature and purpose of the request. The program supports both new and existing businesses and is open to individual entrepreneurs, partnerships, and corporations operating in Nunavut. It focuses on increasing participation in the territory’s business sector and strengthening community-based economies. Projects must demonstrate feasibility, economic benefit, and alignment with local development priorities. While priority may be given to Inuit applicants and businesses operating in underserved or remote communities, all Nunavut-based businesses are encouraged to apply. The program also aims to reduce barriers to entry for first-time entrepreneurs and supports culturally grounded economic activities, including arts, crafts, and traditional knowledge-based enterprises.

Benefits of the Entrepreneur Development Fund (SBSP) program:

• Up to $5,000 in grant funding per application
• Can apply multiple times per year for different business needs
• Supports a wide range of eligible expenses including:
• Business start-up and expansion
• Equipment and tools
• Marketing and branding
• Training and skills development
• Business planning and feasibility studies
• Open to individuals, partnerships, and corporations
• Promotes Inuit entrepreneurship and traditional industries
• Encourages job creation and local economic development
• Focuses on community-led economic sustainability

Eligibility criteria of the Entrepreneur Development Fund (SBSP) program:

• Must be a Nunavut-based business or resident entrepreneur
• Can be a new or existing business
• Applicants can be individuals, partnerships, or corporations
• Projects must support business development or operational capacity
• Preference may be given to Inuit applicants and projects in smaller or remote communities
• Applicants must provide a basic business plan, outline of proposed use of funds, and budget
• Must demonstrate potential for local economic impact and sustainability
• Applicants must be in good standing with the Government of Nunavut