The importance of proper planning cannot be over-emphasized. Planning should include the preparation of a business plan which encompasses management, marketing, production and financing details. See the New Business Check list for assistance.
The Enriched Investment Tax Credit complements the existing PEI Corporate Investment Tax Credit of 10 per cent. The tax credit is applied to certain capital investments made by manufacturing and processing businesses. Who is eligible for Enriched Investment Tax Credit? To be an eligible applicant, a business must be located in Prince Edward Island and: be registered to do business and actively operating in Prince Edward Island; manufactures, processes, or develops goods or services primarily for export; operates within one of these strategic sectors: bioscience aerospace and defence advanced...
Rental Incentive Assistance contributes to rental costs for Prince Edward Island businesses to establish a new business or to expand existing production capabilities. Who is eligible for Rental Incentive Assistance? To be an eligible applicant, a business must be located in Prince Edward Island and: be registered to conduct business and actively operating on Prince Edward Island; manufactures, processes, or develops goods or services primarily for export; operates within one of these strategic sectors: bioscience aerospace and defence advanced manufacturing and processing renewable energy and...
The PEI Labour Rebate (PLR) supports the growth of Island businesses through a refundable labour rebate on incremental job creation. Employment growth must be linked to the development, expansion and/or commercialization of new products, processes, and services that will be sold primarily beyond the borders of PEI. Who is eligible for PEI Labour Rebate? To be an eligible applicant, a business must be located in Prince Edward Island and: be registered to conduct business and actively operating in Prince Edward Island; manufactures, processes, or develops goods or services primarily for export...
Capital Acquisition Assistance supports Prince Edward Island businesses investing in technology, equipment, and infrastructure needed to grow their business and increase capacity and competitiveness. The program provides businesses with financial assistance to leverage other traditional and non-traditional financing and reduce risk. Who is eligible for Capital Assistance funding? To be an eligible applicant, a business must be located in Prince Edward Island and: be registered to conduct business and actively operating on Prince Edward Island; manufactures, processes, or develops goods or...
Depending on the type of business you are planning, you may have regulatory control or require a licence or permit to operate. It is your responsibility to understand any regulations related to your business, which licences or permits you need to operate, and when you need to...
Developing a successful marketing strategy requires careful planning based on quality research. Much of that planning can and should happen before your product or service is ready for sale. Your marketing goal is to present your product or service in a way that will motivate as...
Your business plan is a put-your-thoughts-down-in-writing approach to bringing your business from an idea to reality. It is a clear description of your business, a written summary of what you hope to accomplish in business and how you intend to organize your resources in order to...
As you approach the launch of your business you will have more clearly defined business goals and objectives. A good “next step” is to map out an operational plan detailing the daily tasks required to achieve your business goals. Your operational plan will direct the day-to-day...
In the beginning, you may choose to operate your business on your own or with a select number of employees. As your business gets established or begins to grow, you may need to hire additional staff to help you with the tasks of running your business. Character, commitment and...