Welcome to: Business Development » Business Resource

Are you looking to start-up a new business or already operating one? This guide is not intended to be all-inclusive but rather to provide an overview of some resources available for supporting businesses in PEI.

TIPS TO STARTING & DOING BUSINESS

Know what you are good at and find people to help you do the rest
Learn from the experience of seasoned businesses and like-minded entrepreneurs
Gain access to ongoing external advice and expertise (e.g., informal Advisory Board)

Canada Business Service Centre

Canada Business Services for Entrepreneurs is the gateway to information on provincial and federal government programs, incentives and regulations. Canada Business provides valuable information including, but not limited to, starting a new business, market research, human resources, management and operations, business planning, marketing and sales
canadabusiness.ca

Provincial Government’s Island Prosperity Strategy

In its Island Prosperity Strategy, the Provincial Government committed to supporting the prosperity and growth of the Island and strategic sectors through an investment in people, innovation, and economic infrastructure. Among the programs available are financial assistance for research and commercialization projects, as well as access to expertise. The current call for projects covers financial support for regulatory, management, and marketing assistance.
Islandprosperity.com

Innovation PEI

The provincial government, through Innovation PEI, provides guidance and financial support for eligible projects to small- and medium-sized enterprises (SMEs). Innovation PEI provides financial assistance for accessing professional services, and for marketing materials and support. Innovation PEI is a first point of contact when looking for support.
gov.pe.ca/ial/

Skills PEI

SkillsPEI, a division of the Department of Innovation and Advanced Learning, is responsible for managing the delivery of training and skills development programming funded by the Canada-Prince Edward Island Labour Market Development Agreement (LMDA) and Labour Market Agreement (LMA). SkillsPEI offers programs designed to encourage employers to provide eligible individuals with valuable on-the-job work experience. Other programs provide financial support to companies for assisting unemployed individuals to prepare for, obtain, and maintain employment; for giving immigrants positive work term experiences and transitions into the labour force; and for giving summer employment to post-secondary students in their field of study. Financial support for job-specific training is also available to employers.
skillspei.com

Atlantic Canada Opportunities Agency (ACOA)

ACOA’s Business Development Program (BDP) is designed to help you set up, expand or modernize your business. Focusing on SMEs, the BDP provides access to capital in the form of interest-free, unsecured, repayable contributions. Eligible activities include access to external consulting for preparing business plans and / or feasibility studies, investigating and licensing partnerships, and for capital investment, training, marketing and / or quality assurances. ACOA also provides assistance to small- and medium-sized companies to acquire the export skills and knowledge needed to export properly. The Seed Capital Program, a community based initiative made available by the Community Business Development Corporations (CBDCs) and other community-led organizations, provides loans to start, expand or improve a small business, as well as, acquire business skills training.
acoa-apeca.gc.ca

Professionals

Consultants, accountants, lawyers and bankers provide valuable advice and guidance on various aspects of your business. Accessing this expertise as it is needed can save you in the long run. Seek referrals, do your research and find external advisors who best suit your needs National Research Council-Industrial Research Assistance Program (NRC-IRAP) NRC-IRAP supports SMEs with technical and business advisory services and with financial assistance to support them in developing and successfully commercializing technologies in the global marketplace.
nrc-cnrc.gc.ca

National Research Council-Industrial Research Assistance Program (NRC-IRAP)

NRC-IRAP supports SMEs with technical and business advisory services and with financial assistance to support them in developing and successfully commercializing technologies in the global marketplace.
nrc-cnrc.gc.ca

Industry Canada and Statistics Canada

Market research is important for any business. Industry Canada provides industry-specific research and information, and is a source benchmarking tool for small businesses. Statistics Canada produces statistics on population, resources, economy, society and culture in Canada and its individual provinces and territories.
ic.gc.ca; statcan.gc.ca

Trade Team PEI

Trade Team PEI is a collaborative effort by Innovation PEI and ACOA on behalf of provincial and federal governments to support Island companies in developing and growing export markets, through organized missions to targeted markets. A calendar of events, which identifies markets to be visited in the upcoming year, will be presented in September. Companies are asked to provide feedback on markets they would like to visit. Innovation PEI provides financial assistance to trade mission participants.
tradeteampei.com

Department of Foreign Affairs and International Trade Canada (DFAIT)

DFAIT’s Canadian Trade Commissioners provide access to valuable market and industry research and are part of a network of Trade Commissioners posted throughout the world. If you are exporting or looking to export, it is recommended you complete your profile on the Virtual Trade Commissioner in order to receive customized information and guidance.
tradecommissioner.gc.ca

Export Development Canada (EDC)

EDC is Canada’s export credit agency. It provides innovative financing, insurance and risk management solutions to help Canadian exporters and investors expand their international business. EDC’s e-learning tools are terrific resources for anyone looking to export their products or services.
edc.ca

Business Development Bank of Canada (BDC)

Business Development Bank of Canada helps small and medium-sized Canadian businesses by providing financing, venture capital and consulting services.

RDÉE IPE

RDÉE IPE (Réseau de développement économique et d’employabilité) is PEI’s province-wide, francophone economic development agency. RDÉE IPE provides Island businesses with trade development opportunities; assistance in recruiting qualified bilingual workers; and access to funding for bilingual projects, marketing, and translation services.
rdeeipe.ca

Chambers of Commerce

Chambers of Commerce are excellent sources for networking with other businesses. The Greater Charlottetown Area Chamber of Commerce (GCACC) has ongoing networking events information-sharing opportunities, and many other benefits for entrepreneurs wanting to gain valuable knowledge through contact with seasoned business people. If you are not already active in the Chamber, contact us! You never know who you will meet or what opportunities will appear.

Industry Associations

Industry and trade associations are a valuable source of market research and great for networking with businesses similar to your own. You may find an expert who can help enhance your business Seasoned entrepreneurs have a wealth of knowledge and experience. They have many stories that they are often willing to share. All you have to do is ask.

Advisory Boards

No business is too small to benefit from having an Advisory Board. The minimal investment made in the establishment of an Advisory Board is well worth the access to ongoing advice and guidance, specific to your business.

Other Like-Minded Entrepreneurs

Chances are other like-minded entrepreneurs are having similar experiences. Sharing and learning from each other and finding ways to work together even through the sharing of resources can be very beneficial.Entrepreneurs’ Forum
entrepreneursforum.com

Other

You probably have other resources you would add to this list. Share your knowledge. Help another entrepreneur.

Business Support Programs

Innovation PEI

94 Euston Street
Charlottetown, PE C1A 1W4
Tel: (902) 368-6300
Toll Free: 1-800-563-3734
E-mail: business@gov.pe.ca
Web: http://www.peibusinessdevelopment.com/

The mandate of Innovation PEI is to grow the provincial economy by attracting off-Island investment to Prince Edward Island. Innovation PEI has a portfolio of financial assistance programs to support business growth and encourage investment. For more detail on these programs click here.

Atlantic Canada Opportunities Agency (ACOA)

Royal Bank Building, 3rd Floor
100 Sydney Street, PO Box 40
Charlottetown, PE C1A 7K2
Tel: (902) 566-7492
Fax: (902 566-7098
Toll Free: (800) 871-2596
Web: www.acoa.gc.ca

ACOA is a federal government agency mandated to improve the economy of Atlantic Canadian communities through the successful development of business and job opportunities.

Atlantic Innovation Fund
Business Development Program
Seed Capital Program

Technology PEI

Technology PEI delivers a number of programs designed to help IT companies succeed.
Information Technology Ideas Assessment Program
Marketing Assistance Program
For more details on these programs click here.

Province of PEI

The Province of PEI offers progressive tax rebates for qualified businesses such as:
Innovation and Development Tax Credit
Enriched Investment Tax Credit
Share Purchase Tax Credit
Specialized Labour Tax Credit

For more details click here.

City of Charlottetown
Downtown Revitalization Tax Incentive Program

Development Tax Incentive Program
For more information contact the City's Development Officer

Canada Business - Prince Edward Island
191 University Ave, 1st Floor
Jean Canfield Building,
Charlottetown, PEI, C1A 4L2.
Phone 902-368-0771
Toll Free 1-888-576-4444
TTY 1-800-457-8466
Fax 902-566-7377
Website: http://www.canadabusiness.ca/pe
Email: pei@canadabusiness.ca

Charlottetown Area Development Corporation
4 Pownal Street, P.O. Box 786
Charlottetown, PE C1A 7L9
Tel: (902) 892-5341
Fax: (902) 368-1935
Email: rwaite@cadcpei.com
Web: http://www.cadcpei.com

The Charlottetown Area Development Corporation provides innovation, investment, and expertise for individual projects of economic and social benefit that government or the private sector are not prepared to execute alone. The CADC fills two important roles - to act as a catalyst with the private sector and to bring together various levels of the business community to initiate development projects and urban renewal.