Are you a New Brunswick small company owner in need of financial assistance? This funding grants directory can assist businesses in locating grants in New Brunswick to help them establish, operate, or expand their operations. This comprises grants from the New Brunswick government, and various third-party organizations focused on assisting small enterprises and individuals in the province.
Applying for Small Business Grants in New Brunswick
Companies who apply for business grants in the province of New Brunswick must give vital information and documents to those in charge of the awards before receiving any assistance. Although documentation requirements vary for every grant, firms should gather the following information to make the application process go more smoothly:
- The company’s employee list includes the total number of employees.
- A proposal for a project plan that includes a description of the project, its scope, timeframe, and budget.
- Financial statements that show the state of your company’s finances.
- recommendation letters
- An explanation of how the planned project will impact New Brunswick’s industries and economy.
- A follow-up report describing how the grant money was spent and the outcomes
- Proof that you have registered your business in Canada, specifically with Service NB, and any other business permissions or licenses required.
Business Investment Credits
Small Business Investor Tax Credit
Tax credits, such as the Small Business Investor Tax Credit, are sometimes used to support New Brunswick government awards. Individuals, corporations, and trusts who invest in small enterprises, community economic development corporations, and organizations in New Brunswick are eligible for a 15 percent to 50 percent non-refundable personal income tax credit from NB government agencies.
The money comes from a non-refundable personal income tax credit that allows investors to claim up to $125,000 per year for investments of up to $250,000. On the investor’s income tax return, the government of New Brunswick allows this credit to be carried forward for seven years or back three years. Corporations and trust-eligible individuals interested in investing in New Brunswick firms can get a 15% non-refundable corporate income tax credit of up to $75,000 per year for contributions of up to $500,000.
Investments are available in all economic sectors in the province of New Brunswick. Investors must make a minimum investment of $1,000 to be eligible for the tax credit, while businesses and trusts must make a minimum investment of $50,000. Individual investors must be at least 19 years old, and New Brunswick residents and corporations are required to have a permanent presence in the province. In addition to these conditions, investors must hold the investment for a minimum of four years and cannot use government or third-party financing to purchase the shares.
To begin the credit application process, applicants must first apply for a Certificate of Registration with the Government of New Brunswick, followed by an application for a Tax Credit Certificate.
Digital Main Street (DMS) New Brunswick
The Digital Main Street (DMS) New Brunswick initiative offers four support streams to companies looking to improve their digital skills and services, including financial aid and other tools. The following are the four Digital Main Street Programs:
Digital Main Street Platform: Main street enterprises are given resources for a free digital evaluation, including recommendations for tools and technologies to help them achieve their business objectives.
Digital Main Street Training: Through workshops, training programmes like this help the learning and development of businesses.
Digital Service Squad: This squad helps business applicants get started with their digital transformation by onboarding them with free tools.
Digital Transformation Grant: This funding helps firms cover the costs of digital marketing services, website design, software upgrades, digital training, and other digital-related expenses.
Registering your small business on the Digital Main Street site can begin the application process.
New Brunswick Art Grants
New Brunswick Art Grants span a variety of funding streams as well as business development opportunities for firms and individuals in the arts and culture industry.
Individual artists can apply for money to assist them in pursuing their craft as an artist in residence. The resources of the programme also assist public and private enterprises and organizations in New Brunswick in collaborating with these artists on projects linked to their creative activity.
New and Emerging Artists Infrastructure Grant: This project-based aid provides emerging artists in New Brunswick with one-time capital acquisition. The money will go toward covering the costs of the equipment needed to finish an artist’s project and to help them grow as artists.
Career Development: This one-stop shop is designed to assist artists who want to pursue a career in the arts. The funding will be divided into four categories, each of which will cover the costs of New Brunswick artists pursuing creative development and professionalization.
Senior artists, mid-career artists, and young artists can apply for financing to finance the research, development, and implementation of innovative arts projects through this initiative.
Documentation: This award programme assists artists and professionals in the arts by giving financial help to pay the costs of researching, developing, and executing original documentation and contextualization of art goods, art activities, or art history.
Check out Best Grants for Artists in Canada
New Brunswick Music Industry Development (MID) Program
MusicMusique NB manages the New Brunswick Music Industry Development (MID) Program, which provides financial assistance to provincial musicians (MNB). This provincial music industry organization intends to assist and foster the New Brunswick music industry by investing in projects submitted by New Brunswick-based artists, ensembles, and music enterprises.
Successful applicants for this New Brunswick small business award can receive up to $10,000 in total, excluding Sound Recording, throughout the course of a fiscal year. For more information on these resources and to start the application process, contact the Mid Programs officer at [email protected].
Marketing & Promotion Component
The Marketing & Promotion Component is a MusicMusique NB (MNB) financial resources initiative that assists provincial musicians with marketing, social media, and promotional activities. Marketing plan development, marketing activities surrounding a tour or showcase, social media campaigns, video productions, and the promotion and marketing of sound recordings are all eligible for funding. Artists are eligible for a maximum contribution of $4,000 per application.
How to apply?
The association suggests contacting their MID Program Officer before applying. You can reach out to this office by email at [email protected].
There are fewer grants available in New Brunswick compared to other provinces, which is not a good sign for the businesses unless you can always rely on loans and other financial aids to manage your expense.