Entrepreneurial Opportunities helps individuals who are eligible for or in receipt of Provincial Income Support in Newfoundland and Labrador who want start their own business. This program aims to assist eligible individuals to become self-employed by providing financial assistance, business advice and general business training for a maximum of 52 weeks.
- Financial Support for up to 52 Weeks
- Access to Exclusive Start-Up Loan
- On-Going Business Advice and Support
- Access to Business Skills Development Workshops
- Available to Entrepreneurs in Newfoundland & Labrador
Once approved the recipient may avail of up to 52 weeks of financial support as they launch their business venture. This can include: continued receipt of existing Income Support from the Department of Advanced Education, Skills and Labour (AESL), receipt of an incentive allowance, and eligibility for subsidized child care costs as determined by AESL.
Approved individuals may be eligible to receive a $3000 repayable loan to cover necessary business start-up costs. A portion of the loan is dispersed to the entrepreneur for working capital, with the remainder of the balance held on their behalf by Metro Business Opportunities, who will make direct payments to third party vendors for approved business costs upon presentation of approved invoices or price quotes.
Business Plan Guidance:
The entrepreneur will receive valuable guidance and feedback on their business plan from staff at Metro Business Opportunities. This will ensure the business venture is feasible and the entrepreneur is setup for success. The entrepreneur will also be able to access introductory business skills development workshops and presentations, on such topics as: bookeeping, marketing, sales, and more.
Counselling and Support:
Metro Business Opportunities staff can provide ongoing management and business advice throughout the entrepreneur's participation in the Entrepreneurial Opportunities Program. Counselling meetings can be scheduled at the participant's request to discuss any business problems or concerns. MBO staff will be alongside during business startup, providing feedback and support, while helping to anticipate challenges and needs.
For entry into the Entrepreneurial Opportunities Program, individuals must receive a referral from a Client Services Officer at the Department of Advanced Education and Skills.
Advanced Education, Skills and Labour
Once your referral is received by Metro Business Opportunities, the applicant will be contacted to attend a private orientation session. During the orientation, MBO staff will review with the applicant: the program eligibility requirements, the necessary steps to begin operating a small business, and the necessary forms to enroll in the program.
Metro Business Opportunities handles intake for all Entrepreneurial Opportunities Program applicants in Newfoundland and Labrador. For program participants outside of the St. John's area, MBO may utilize partner organizations within the participants community to deliver some aspects of the program.