NDP helping turn business ideas into new companies with Starting Small

September 27, 2013

Today Premier Darrell Dexter announced a new NDP microcredit service, Starting Small, that will help more than 150 young people get the investment and mentoring they need to get their own business off the ground.

“There are many young people who have great ideas but just need a little help and mentoring to move from the idea, to a business plan, to opening their own business. The NDP will continue to support young entrepreneurs who have good ideas. They are the ones that will help create new jobs and grow the economy for the future,” said Dexter.

The NDP $1.5-million service will invest up to $10,000 and will provide expertise and mentoring to help develop their idea into a business.

“This is different from traditional small business loans because it’s targeting people who need a small investment and some business development mentoring but don’t have the collateral or credit a bank would require,” said Dexter.

“Before they receive funding they will take part in business development training and mentoring to help develop their ideas into professional business plans.”

Any self-employed or small business owner with annual gross revenue of less than $100,000 will be eligible for the service that will begin in 2015. 

The new NDP service will help Nova Scotians like 25-year-old Caroline MacLeod owner of Caroline’s Bakery in Dartmouth.

Caroline is a graduate from the Nova Scotia Community College with certificates in baking and pastries and baking arts. She opened her bakery in January.

“Microcredit plans have opened doors to small and home-based businesses world-wide,” said John Carr, Caroline MacLeod’s dad. “With Mr. Dexter’s new program, hundreds of young Nova Scotians can turn their dreams of owning a business into a reality.”

“The NDP will continue to invest in our people and together we will keeping building a better future for today’s families,” said Dexter.

The NDP will: deliver better health care where and when people need it, fight for good jobs and stronger communities, keep the HST off home energy and take it off more family essentials, give our kids a better start, stand up for seniors, build the Maritime Link and keep the budget balanced to protect services for families.

Election day is Tuesday, October 8.