Entrepreneurship and Business Development (EBD)
The Entrepreneurship and Business Development (EBD) fund is one of two program contribution streams offered under the Northern Aboriginal Economic Opportunities Program (NAEOP).
The EBD fund provides financial support to Aboriginal entrepreneurs, businesses, and commercial entities to expand their business in the three territories. It helps applicants pursue economic opportunities that benefit Aboriginal people. The fund is also intended to provide project-based support for activities that help to establish or grow Aboriginal businesses.
The goal of the EBD fund is to:
- Increase the number of sustainable Aboriginal businesses and provide a supportive business environment for Aboriginal people in the territories
- Develop a culture of entrepreneurship within the Aboriginal community and to improve access by its members to economic opportunities
- Improve access to funding for territorial Aboriginal businesses that have difficulty obtaining conventional commercial financing, and
- Increase the participation and economic benefits for Aboriginal persons that come from resource development.
Who can apply for EBD funding?
You can apply if you are:
- An Aboriginal person
- A business or commercial entity owned and controlled by an Aboriginal person, Aboriginal community, or Aboriginal government
- An organization, corporation, association, cooperative, partnership or institution controlled by an Aboriginal person or people (except those established for charitable or religious purposes).
What type of activities qualify for EBD funding?
Eligible projects include:
- Business advisory and entrepreneurship development activities, including negotiations, mentoring, coaching, referrals, identifying opportunities (both domestic and international), building/negotiating partnerships, and identifying sources of private capital
- Planning and research activities, such as:
- Pre-feasibility and feasibility studies
- Market assessments
- Business and financial planning
- Environmental evaluations
- Information gathering and diagnostic studies
- Construction, architectural, engineering and design activities
- Developing skills and capacity, including in the areas of administration, the design of the organization, financial management, and business development
- Commercial ventures, such as:
- Funding to help create, buy (through capital assets or share purchases), expand or modernize a venture that is carrying on business in Canada or is related to business development
- Operating costs (such as for start-ups) and short-term operating costs where funding is essential to the success of a business venture carrying on business in Canada
- Developing and promoting a market
- Innovating, including:
- Carrying out research and development
- Developing a product or process
- Improving productivity and quality control
- Gaining connectivity, access to advanced technologies, and improving quality
- Advocacy to support Aboriginal businesses and entrepreneurs, and sources of financing available to Aboriginal people
- Capitalizing, including:
- Creating, expanding or diversifying financial instruments for Aboriginal businesses and entrepreneurs
- Developing community-owned and community-member businesses, including equity financing for community-owned and community-member businesses.
What information do I need to submit when I apply?
Each request for financial support is assessed on its own merits. Assessments take into account the financial need, the scope of the project, and other sources of financing available, including funding received from other government departments and agencies. A balanced financial package, involving debt financing from other sources, as well as a minimum level of an applicant's own cash equity, must accompany an application.
Before CanNor can consider supporting any proposed venture, the entrepreneur or organization applying for support must be able to demonstrate the following:
- Information about the applicant
- The applicant must be First Nation (status or non-status Indian living on or off a reserve), Métis or Inuit. Aboriginal business and financial organizations, as well as development corporations, are also eligible for support. Businesses and organizations must be majority Aboriginal-owned and -controlled.
- Generally, applicants must demonstrate they have a minimum of 15% cash equity to invest in the costs of the venture. Entrepreneurs between 18 and 35 years of age inclusive must have at least 10% cash equity.
- CanNor assesses the training, skills and experience of the applicant. If the applicant operates an existing business, the track record of the business will be assessed. Support may be available for additional training in management, financial accounting or other areas that address the needs of the business.
- Information about the proposed project
- The applicant must supply an outline of key business factors (financial, marketing, management and operational capacity) to help CanNor determine the viability of the proposed venture.
- Any other information CanNor considers necessary to assess the request for project funding.
How do I apply?
Application forms may be obtained by contacting the nearest CanNor office. Applicants are encouraged to speak to a CanNor representative before completing an application form to discuss the program, application process, and who and what are eligible.
What happens after I apply?
Applicants will be contacted by a CanNor officer after receiving the signed application to confirm it is complete and to discuss next steps.
For more information about CanNor programs, please contact the regional office nearest you.