Introduction
Embarking on or expanding a small business in New Brunswick presents exciting opportunities and financial challenges. Fortunately, in 2025, various grants and subsidies are available to support entrepreneurs, startups, and small business owners. These programs offer non-repayable financial assistance, wage subsidies, and tax incentives designed to foster business growth and sustainability.This comprehensive guide delves into the top grants and subsidies available for small businesses in New Brunswick in 2025. We will explore each program’s eligibility criteria, application processes, and expert tips to enhance your chances of approval.
The Importance of Small Business Grants and Subsidies
Grants and subsidies play a crucial role in the success of small businesses by offering several key benefits:
- Non-Repayable Funding: Provides capital for business development, equipment acquisition, and innovation without the burden of repayment.
- Wage Subsidies: Assist in hiring and training employees, reducing labor costs.
- Export Assistance: Facilitates entry into new markets by offsetting costs associated with international expansion.
- Tax Incentives: Lower operational expenses through various tax relief programs.
- Research and Development Support: Offers funds to drive innovation and stay competitive.
- Targeted Support: Provides assistance for women-owned, minority-owned, and eco-friendly businesses.
- Training and Skill Development: Invests in employee development to enhance productivity and business growth.
Top Small Business Grants in New Brunswick for 2025
1. New Brunswick Small Business Recovery Grant
- Description: Financial assistance for small businesses impacted by economic challenges to support recovery and stability.
- Funding Amount: Up to $10,000 per business.
- Eligibility: Open to for-profit businesses operating full-time or as full-time seasonal tourism businesses in New Brunswick, employing between 2 to 99 full-time equivalent employees.
- Application Process: Applicants must provide evidence of revenue decreases of 20% or more compared to the same month in 2019, or 10% compared to the previous year for businesses started after December 1, 2020. Applications are accepted until March 31, 2025.
- Best For: Restaurants, personal services, gyms, entertainment centers, and retail businesses.
2. Innovation Voucher Fund
- Description: Facilitates collaboration between small businesses and research institutions to develop innovative products or services.
- Funding Amount: Covers up to 80% of research and development costs, with a maximum of $50,000 per project.
- Eligibility: New Brunswick-based small businesses engaged in innovative activities seeking to partner with accredited institutions.
- Application Process: Submit a detailed proposal outlining the project’s innovative aspects and expected outcomes, along with proof of collaboration with a research institution.
- Best For: Technology startups, biotechnology firms, and companies focusing on medical innovations.
3. Digital Transformation Grant
- Description: Assists businesses in adopting digital tools such as e-commerce platforms, CRM systems, and automation software.
- Funding Amount: Up to $20,000 for digital upgrades.
- Eligibility: Available to retailers, service providers, and e-commerce businesses operating in New Brunswick.
- Application Process: Applicants must provide a comprehensive digital adoption plan detailing the intended software and technology upgrades.
- Additional Requirement: Businesses must implement the proposed upgrades within 12 months of receiving the grant.
- Best For: E-commerce companies, digital service providers, and local businesses transitioning to online operations.
4. Export Market Access Fund
- Description: Provides financial support to businesses aiming to enter international markets by covering expenses related to marketing and participation in trade shows.
- Funding Amount: Covers 50% of eligible costs, up to $30,000.
- Eligibility: SMEs with potential for export growth.
- Application Process: Applicants must submit a well-researched export strategy that includes market analysis and identification of target customers.
- Best For: Manufacturing businesses, agricultural producers, seafood exporters, and SaaS companies.
5. Sustainable Business Grant
- Description: Offers financial assistance to businesses implementing green technologies and sustainability initiatives.
- Funding Amount: Grants of up to $40,000 for sustainability projects.
- Eligibility: Businesses committed to adopting energy-efficient solutions and sustainable practices.
- Application Process: Applicants must submit a detailed sustainability plan outlining clear environmental goals and strategies to achieve them.
- Best For: Renewable energy companies, eco-friendly startups, and manufacturers focusing on sustainable practices.
Wage Subsidies for Small Businesses in New Brunswick
1. Youth Employment Fund
- Description: Provides wage subsidies to encourage hiring young professionals aged 18-29.
- Funding Amount: Covers up to $14,000 per new hire.
- Eligibility: Open to small businesses and non-profits operating in New Brunswick.
- Application Process: Employers must submit a mentorship and skills development plan outlining how they will train and support young employees.
- Best For: Startups, hospitality businesses, retail stores, and service-based businesses.
2. Canada-New Brunswick Job Grant
- Description: Assists businesses in covering training costs for employees to improve workforce skills.
- Funding Amount: Employers can receive up to $10,000 per employee for training programs.
- Eligibility: Open to all New Brunswick businesses hiring full-time employees.
- Application Process: Submit a training plan demonstrating how the program aligns with industry needs.
- Best For: Businesses in manufacturing, trades, healthcare, and IT sectors looking to upskill their workforce.
Tax Incentives for Small Businesses in New Brunswick
1. Small Business Corporate Tax Rate
- Description: Offers a reduced corporate tax rate for small businesses to encourage growth and investment.
- Eligibility: Businesses must meet the small business definition under New Brunswick’s tax laws.
- Tax Rate: 2.5% on the first $500,000 of active business income.
- Best For: Any small business looking to reduce tax liabilities and reinvest in growth.
2. Research and Development (R&D) Tax Credit
- Description: Encourages innovation by offering tax credits for qualifying R&D expenditures.
- Eligibility: Businesses engaged in eligible research activities in New Brunswick.
- Tax Credit Rate: Up to 15% of eligible R&D expenditures can be claimed.
- Best For: Technology companies, AI startups, biotech firms, and manufacturing businesses investing in new product development.
Expert Tips for Securing Grants & Subsidies
- Clearly define business goals with a measurable plan for fund usage.
- Prepare strong supporting documents, including financial statements and business plans.
- Highlight business impact in job creation, economic growth, and sustainability.
- Apply early, as many grants operate on a first-come, first-served basis.
- Seek professional assistance from grant writers or business consultants to strengthen applications.
Conclusion
New Brunswick offers a wealth of grant and subsidy programs designed to help small businesses thrive. By understanding eligibility criteria, submitting well-prepared applications, and leveraging expert tips, small business owners can maximize their chances of securing financial assistance. Whether expanding operations, investing in digital transformation, or entering international markets, funding opportunities are available to support success in 2025 and beyond.