In order to minimize the potential risks, Prince Edward Island Development has developed a portfolio of financial assistance programs which are briefly described following. For more details on individual programs, please click on its title. Recognizing that today's entrepreneurs do not always have the time or expertise to respond effectively to all demands of their operation, Prince Edward Island Business Development provides a non-repayable contribution to Island business requiring professional advisory support. Businesses are most exposed to financial risk during start-up and expansion. Prince Edward Island Business Development assists Island businesses in acquiring the infrastructure needed to develop from start-up through to international exporting.
Marketing is a key component to any successful business start-up or expansion.
Prince Edward Island Business Development provides a non-repayable contribution to Island businesses requiring marketing advice and support. To meet the occupancy needs of new and expanding business in areas not services by a provincial industrial mall, Prince Edward Island Business Development provides financial assistance to manufacturers and processors for leasing space in any community on Prince Edward Island. To provide an opportunity for small business in Prince Edward Island to increase their labour force while offsetting their costs, to assist recent IT graduates in acquiring work experience in the IT industry and to enable the IT industry to become more competitive by strengthening its labour force capacity, Prince Edward Island Business Development provides a cost-shared contribution on wages. This includes evaluating business plan proposals, assessing client suitability for self- employment, providing participants with assistance in developing and implementing their business plans, offering technical and other advice, and directing clients to other supports as needed or available. Financing Financing a new business start-up or expansion is continually identified as one of the most difficult challenges for today's business.