Economic Development Update - September 2023

Check out the latest in economic development news.

To view a full list of resources from a variety of sources and organizations, visit the Town’s Business Support webpage.

Still have questions? Reach out to the Economic Development Officer at Heather.Hyde@SaugeenShores.ca

Shop the Shores – Fall Shop Local Campaign

The Shop the Shores campaign is already underway but it’s not too late to add your business to the list! This campaign strives to encourage residents and visitors to explore and purchase from our local businesses.

Each participating business gets a stack of stamp cards, a stamp, a poster, a tent card for the register, and a listing on the Town website. There is no cost to participate in the stamp card contest. Businesses must be located in Saugeen Shores to participate.

The campaign is running from September 22 – October 31, 2023. To learn more about the contest, please visit www.SaugeenShores.ca/Shop.

Please contact Heather Hyde at Heather.Hyde@SaugeenShores.ca to register your business for participation.

Applications Opening Soon: Spark Mentorship and Grants Program!

The Tourism Innovation Lab Spark Program aims to find, foster, and support new accessible tourism ideas, experiences, and partnerships with the goal of enhancing current offerings, addressing gaps or challenges, motivating travel and longer stays, and increasing year-round visits.

Applications from entrepreneurs, small businesses, and non-profit organizations based in Bruce County are encouraged.

Learn more about program eligibility and apply today.

Starter Company Plus Program Now Open

When you enroll in the Starter Company Plus Program, you’ll work one-on-one with a business advisor and mentor every step of the way. The workshops and training sessions provide you with the tools you need: from business fundamentals, marketing and market research, and finances, to operations and human resources.

Additionally, you’ll have the opportunity to apply for and receive a $5,000 grant to put towards your business startup costs.

Eligible businesses must:

Operate in Bruce County
Operate legally under government regulations and municipal by-laws
Be a sole proprietorship, or corporation, where the applicant is the majority owner, OR
Be a partnership where the applicant is the majority owner. If the partnership is 50/50, only one owner may apply
Operate at arm’s length from an existing family business venture

Learn more about the program and apply here.

Explore more free training sessions offered by Business to Bruce designed for entrepreneurs and business owners in Bruce County.

Recruitment Implementation Program (RIP)

Need help recruiting staff for your tourism business? Applications are still open for RIP, which is designed to offer additional support for tourism operators to assist with hiring staff. Through RIP, you can leverage your operating expenses into a social media campaign. Eligible expenses include mortgage payments, rent, insurance, inventory purchases, etc.

More information and the application form can be found HERE.

T3 Accelerator Program

Fall is a great time to begin looking at your business strategy, social media and marketing plans, and customers’ needs for the coming new year. The T3 Accelerator Program provides tourism business owners with access to coaches who are experts in sales and marketing, financial management, business development, workforce, and more!

Learn more and apply today.

Changes to CEBA Loan Repayment Terms Announced

The federal government is extending the full repayment deadline for the Canada Emergency Business Account (CEBA) loans by one year, from December 31, 2025 to December 31, 2026.

Ottawa is also extending the zero-interest repayment deadline (which qualifies loan holders for partial loan forgiveness) from December 31, 2023, to January 18, 2024.

As of January 19, 2024, outstanding loans will convert to three-year term loans at 5% interest, with the full amount of the loan repayable by December 31, 2026.

For more information, see here.

Dine Ontario Program for Restaurant Owners

Ontario produces a diverse range of high-quality food and beverages that consumers love and trust. Each year, the province celebrates and promotes the good food that grows in the province during Ontario Agriculture Week.

To mark the 25th Ontario Agriculture Week from October 1 to 8, 2023, OMAFRA is launching the Dine Ontario initiative to:

Promote local food and beverages in local restaurants.
Connect Ontario farmers and distributors with more restaurants.
Help restaurants attract even more customers.
Encourage customers to choose local when they dine out.

If you’re a restaurant owner, you can sign up to participate in Dine Ontario and:

Receive printable materials and digital assets, including a menu insert, poster and the Foodland Ontario logo.
Be added to the list of participating restaurants that will be promoted on the website.