Business Growth Program

The Business Growth Program provides non-repayable contributions for projects or initiatives to assist businesses start, innovate, scale and improve sales locally, nationally or internationally.

Investments under the Business Growth Program will be aligned with the following priorities (fact sheet):

  • Development and Commercialization
  • Productivity Improvement and Innovation
  • Knowledge and Technical Assistance
  • Growth and Internationalization

Available Support with Financial Assistance

The Business Growth Program normally provides non-repayable contributions up to 50 per cent of eligible costs to a maximum of $200,000 over 24 months ($100,000 per year) per project, per company. Development and Commercialization projects, however, may be considered to a higher maximum normally up to $750,000 over multiple years at varying amounts per year.

Eligible Applicants

To qualify for assistance applicants must be businesses that are either:

  • Growth-focused, innovative firms including sole proprietors, partnerships or corporations operating within Newfoundland and Labrador that demonstrate commercial viability; or
  • Co-operatives or non-profit organizations operating within Newfoundland and Labrador that demonstrate an ability to generate commercial revenue or are pursuing international trade or economic development opportunities.

All eligible applicants must demonstrate:

  • The ability to undertake the work identified in the project proposal;
  • The ability to access the financial capital required to complete the project; and
  • Good standing with the Government of Newfoundland and Labrador.

NOTE: Sector organizations participating in Department-led projects or initiatives specifically representing businesses may be considered eligible applicants.

 

HOW TO APPLY

Use either of the forms below to apply. For program details or assistance with your application, contact the Industry, Energy and Technology office near you.

Application

Applicant Guides

 

CONTACT

For more information please contact IET@gov.nl.ca

Detailed listing of Economic Development Officers located throughout the province is available at https://www.gov.nl.ca/iet/department/contact/#roffices

Regional Offices

Labrador:             709.896.2400

Western:             709.637.2628

Central:                709.256.1480

Eastern:                709.466.4170

Avalon:                 709.729.6123