Small Business Assistance

Overview of the Small Business Assistance program:

The Small Business Assistance Program, offered by Finance PEI, provides financial support to small businesses in Prince Edward Island. The program is designed to help businesses improve their operations, expand, or adopt new technologies. Through this program, eligible businesses can receive a grant that aids in covering expenses related to business development, such as equipment purchases, marketing, and operational improvements.

Benefits of the Small Business Assistance program:

• Financial Support: Eligible businesses can receive up to $5,000 in grant funding, which can be used to enhance their operations or expand their business.
• Business Growth: The program helps businesses invest in key areas such as marketing, equipment, or new technology, facilitating growth and competitiveness.
• No Repayment: As a grant, the funds provided do not need to be repaid, reducing financial strain on small businesses.

Eligibility criteria of the Small Business Assistance program:

• Small business includes any person that:
• Carries on business, or intends to carry on business, in the province;
• Purchases a finished product from a supplier and resells that product without alteration;
• Does not employ more than 100 people; or
• Did not have annual gross sales exceeding $10 million in the fiscal year immediately after an application made following section 9 of the Act. defined as: