Financial Support for Entrepreneurs with 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:
Independent Living Resource 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/.