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Business Frequently Asked Questions
- What do I need to know to start a business?
- How do I start my own business?
- What permits/licences do I have to get to start a business?
- TCII Information
- Do I qualify for assistance?
- Do you offer grants?
- What kinds of businesses do you fund?
- How long will it take for you to respond to my application to a program?
- What is the difference between the Atlantic Canada Opportunities Agency (ACOA) and the Department of Tourism, Culture, Industry and Innovation?
- Can you help me get my trade papers updated?
- Does your department provide information for trades people about apprenticeship and certification?
- What do all those terms stand for?
Starting a business
1. What do I need to know to start a business?
That depends on your experience and the sort of business, location and
market, and many other factors. Please
contact one of our front line staff. We provide free, confidential
business counseling. And if we don't have the answers you need, we can
provide advice and information to help you make good decisions.
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2. How do I start my own business?
Well, it can be hard to know where to start. We've prepared a free
guidebook, the
Steps to Starting a Business Document which covers the basics for
business start-up in Newfoundland and Labrador.
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3. What permits/licences do I have to get to start a
business?
That will vary by the type of business. To get a business or GST number,
register as a corporation or get permits required for specific businesses,
contact your local
Government
Service Centre If you're not sure what permits you might need, contact
the
Canada Business Network,
they provide guidelines and information.
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4. TCII information
- Do I qualify for TCII assistance?
- Do you offer grants?
- What kinds of businesses do you fund?
We get asked these questions a lot. The answer is always, it depends. What
we'd like to do, is have you talk to one of our front line staff, get to
know a little more about you and your plans and then we can provide
specific, current answers.
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5. How long will it take for you to respond to my
application to a program?
We will acknowledge your application promptly, but the time to approve or
take action on your application will depend on whether the supporting
documentation is complete, and whether we need additional information to
complete our review.
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6. What is the difference between the Atlantic Canada
Opportunities Agency (ACOA) and the Department of Tourism, Culture, Industry and Innovation?
The Department of Tourism, Culture, Industry and Innovation is a
department of the Government of Newfoundland and Labrador. The Department
operates five lines of business in support of regional development and
economic diversification:
- Small and Medium-sized Enterprise (SME) Development
- Industrial Diversification
- Innovation
- Investment
- Economic Intelligence
These are delivered through 23 offices throughout the province:
ACOA
is a federal government agency which works to strengthen the Atlantic economy
through enterprise development, community development and policy, advocacy and
co-ordination. It has offices in each of the four Atlantic provinces.
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7. Can you help me get my trade papers updated?
The Department of Advanced Education and Skills manages apprenticeship and
journeyperson certification in Newfoundland and Labrador. Visit the Department
of Advanced Education and Skills
Apprenticeship and
Certification FAQ for more information.
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8. Does your department provide information for trades
people about apprenticeship and certification?
Actually, the Department of Advanced Education and Skills handles this. You
can get the answers to most questions at:
Department of Advanced Education and Skills - Apprenticeship and Certification
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9. What do all those terms stand for?
If you have more that you would like us to add or explain:
Please send us an e-mail at
Here's a list of some of the acronyms and initialisms we use.
| ACOA | Atlantic Canada Opportunities Agency |
| ADIANL | Aerospace and Defense Industry Association of
Newfoundland and Labrador |
| BDC | Business Development Bank of Canada |
| BR&E | Business Retention and Expansion Program (TCII) |
| CBDC | Community Business Development Corporation |
| CFIB | Canadian Federation of Independent Business |
| CME | Canadian Manufacturers and Exporters |
| CRDS | Comprehensive Regional Diversification Strategy
(TCII) |
| EDGE | Economic Diversification and Growth Enterprises
Program (TCII) |
| ICT | Information and Communications Technology |
| TCII | Tourism, Culture, Industry and Innovation |
| IRIF | Industrial Research and Innovation Fund (Research &
Development Corporation) |
| LOO | Letter of Offer |
| LSVCC | Labour-Sponsored Venture Capital Corporation |
| MOU | Memorandum of Understanding |
| REDB | Regional Economic Development Board |
| SME | Small - and Medium-sized Enterprises |
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