Self-Employment Benefit Program - Workforce Expansion

Overview of the Self-Employment Benefit Program - Workforce Expansion program:

The Workforce Expansion Self-Employment Benefit Program helps unemployed individuals create a job for themselves by starting a new business. The program provides various types of support during the initial development phase of the business including financial assistance, coaching, and ongoing technical advice. Coaching is tailored to meet individual needs and can include subjects such as business plan development, accounting, and marketing. The Self-Employment Benefit Program is delivered in partnership with non-profit, private, and/or public organizations. Services with these organizations are purchased in accordance with the New Brunswick Public Purchasing Act, Regulation 94-157.

Benefits of the Self-Employment Benefit Program - Workforce Expansion program:

• Qualified candidates will be provided with support during the initial development phase of the business, including financial assistance, coaching, and ongoing technical advice. Business mentoring is customized to meet the individuals needs and can include subjects like business plan development, accounting, and marketing.

Eligibility criteria of the Self-Employment Benefit Program - Workforce Expansion program:

• Applicant
• To be eligible for Self-Employment Benefit, you must meet the following criteria:
• Must be legally entitled to work in Canada.
• Must reside in New Brunswick, or be willing to establish residency in New Brunswick.
• Must not be a full-time student.
• Must be unemployed and EI eligible.
• Must present a business plan.
• Must work full-time at the business (at least 35 hours per week).
• Must have decision-making control over the business operation.
• Must have 50% or more ownership.
• Situations where you and/or family members (spouse, parent, child, brother or sister) own
• Similar businesses must be reviewed for eligibility on a case-by-case basis.
• Must agree to and have an acceptable credit review.
• Must be able to provide additional capital to the business in form of cash or in-kind
• Contributions at a minimum of 5% of total start-up costs.
• Must not have started the business prior to being approved and signing a contract for the
• Self-Employment Benefit program.
• Must not have received funding under the Self-Employment Benefit Program within the last five years.
• Business
• A business started under the Self-Employment Benefit Program must meet the following general criteria:
• The business must be a for-profit venture.
• The business must operate on a full-time basis for a minimum of 44 weeks per year.
• Businesses deemed to be in undue competition with existing ventures will not be eligible for
• Funding.
• The business must be established in New Brunswick and begin operation within ten weeks of
• Signing a Self-Employment Benefit contract.
• 50/50 Partnership businesses will be considered if a formal written agreement is provided,
• Which details the business partners relationships. Both partners can apply to the program.
• Businesses with a franchise fee of $50,000 or less are eligible.
• Businesses that are based on commission sales, pyramid-type selling, network marketing,
• And 1-900 numbers are not eligible.
• A business that is not in the public interest is not eligible.
• A business that exploits sex, religion, or politics is not eligible.
• A business that exploits vulnerable groups is not eligible (ex . payday loans).
• The business must demonstrate viability