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Financial Support for Entrepreneurs with Disabilities

November 20, 2014
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Do-You-Qualify-for-the-Disability-Tax-CreditDo you feel entrepreneurs with disabilities are given the same opportunities as entrepreneurs without disabilities?

Many Canadians with disabilities are talented entrepreneurs who deserve a chance at success. These individuals are capable of bringing much to Canada’s economy and community. The Canadian government understands this, which is why initiatives like the Entrepreneurs with Disabilities Program (EDP) exist.

“The Entrepreneurs with Disabilities Program provides business information, training and development, mentoring, and one-on-one counseling services.”

These combined benefits can be a major boon to any business. The EDP also offers business loans, in some cases. These loans have flexible terms and are “tailored to meet your needs.”

The Entrepreneurs with Disabilities Program loans can be used for the following purposes:

  • Starting or expanding a business
  • Buying and applying new technology
  • Establishing working capital for anticipated sales increases
  • Developing marketing and promotional materials
  • Upgrading facilities and equipment

What needs does your business have? Would meeting these needs be easier if you had a loan?

Who qualifies for the Entrepreneurs with Disabilities Program?

Entrepreneurs who meet certain criteria may be eligible to receive support from the EDP. Are you eligible? To determine this, ask yourself the following questions:

Am I an entrepreneur who…

  • Lives in Western Canada?
  • Is mentally or physically disabled?
  • Has a business plan?
  • Has not been able to get all the funding I need for my business?
  • Is restricted in my ability to perform at least one of the basic activities of entrepreneurship or self-employment?

If your answer to some or all of these questions is “yes,” you might qualify for the Entrepreneurs with Disabilities Program.

Do you think you may qualify for the EDP? Here are the next steps to take:

If you think you may be eligible to receive support from the Entrepreneurs with Disabilities program, great! This is very exciting. The next step you will want to take is contacting the EDP-related organization that is closest to you.

Here is a list of EDP organizations, locations, and websites:

Victoria/Vancouver
VanCity Savings Credit Union
Coast Capital Savings Credit Union

Regina
South Saskatchewan Independent Living Centre

Edmonton
Distinctive Employment Counseling Services of Alberta

Calgary
Momentum

Winnipeg
Independent Living Resource Centre

Saskatoon
North Saskatchewan Independent Living Centre

If you are a Canadian entrepreneur with a disability, the EDP could be a life changing resource for you.

Read more about the program by visiting the Western Economic Diversification Canada website.

What has been the most difficult obstacle you had to overcome as an entrepreneur with a disability?

Canada has one of the best disability support programs in the world because it rewards people who can work. The Disability Tax Credit recognizes the burden of medical expenses on disabled workers. Therefore, it offers tax breaks that free up some funds so the individual can pay for medicine, medical consultations, and therapies. Annual savings are distributing to these individuals during tax season, in the spring time. They can also claim retroactive payments–up to $40,000.

To receive personal information and ask questions about the Disability Tax Credit, contact the National Benefit Authority for a free consultation. Benefit Specialists can be reached by phone at 1888-389-0080 or through this online form: http://www.thenba.ca/free-consultation/.

 

6 Comments. Leave new

Robin D. Lakatos
December 13, 2014 12:26 am

I WOULD LIKE TO EXPLORE THE POSSIBILITY TO START MANUFACTURING NATURAL SKINCARE PRODUCTS AS I AND MY FAMILY ARE PLANING FOR A FEW YEARS.

WE ALLREADY SPEND MONEY FOR SOME EQUIPMENT NOW,TO BE ABLE TO CONTINUE
WILL NEED FINANCIAL SUPPORT.

THANKS IN ADVANCE FOR A PROMPT RESPONSE.

Robin David Lakatos

Sylvie Couvrette
December 13, 2014 3:32 pm

is there any opportunities for ppl with disabilities for Northern Ontario?

I do not want to receive a lump sum and then not be able to apply for some form of long term disability (I’m in Ontario) like ODSP or something. I struggle with Chronic Anxiety Disorder, daily mild to moderate depression as well I crushed both Calcaneous (Heel) bones and they were surgically reconstructed. However, that was a little over 2 years ago. Now, arthritis has begun to set in pretty fast. I left my job at Ont.Power Generation that was contributing to depression/addiction after 21.5 years, am currently enrolled in the Heating, Ventilation, Air Conditioning at Durham College in Whitby Ont. I have been either Honour Roll or on the Deans List both semesters last year as well as the first completed semester this year. So, in second year, we are required to “apprentice” for free with a HVAC company every Thursday and I find that my feet are really giving me a hard time, not only the day of work but also the day after. I am now not sure that I can work in this field as it is a “on your feet, on concrete most days, for at least 8 hrs). Also, my depression and anxiety is now getting worse as I worry incessantly about the future and my need for employment to support my family

Opportunities in Western Canada…????

Can we see opportunities in other places, so I can consider long term ideas

Yes I live rural Ottawa, but it is time to consider some type of entrepreneurship here

Are there any opportunities available like this in Southern Ontario?

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