Small businesses on P.E.I. who spend a sizable chunk of money on capital improvements can now apply to the province to get some of their investment back.
The province announced the Small Business Investment Grant as part of the 2018 budget. It allows for small businesses who spend up to a maximum of $25,000 on tangible assets to apply and potentially get 15 per cent of their investment back.
Economic Development Minister Chris Palmer visited Evermoore Brewing Company in Summerside, which is still under construction at the former Summerside railway station, to highlight the new program.
“We want to get money back into their pockets so they can go out and spend it on something else,” said Palmer, referencing small business owners.
Sean Aylward, president of the Greater Summerside Chamber of Commerce, welcomed news of the grant program.
“As far as the business community in Summerside goes, it’s great to see the government putting in initiatives that are going to put more money into our pockets,” said Aylward.
Alex Clark, owner of Evermoore, said he plans to apply to the program and sees it as being a good thing, not only for established entrepreneurs but new businesses as well.
“If it can help someone else get open then they live here and they can support us; it’s just a compounding thing. If everybody gets a little, eventually it turns into a lot,” said Clark.
He said Evermoore Brewing is hoping to start limited beer brewing by late May and he hopes, if all goes well, to be open by early July.
He is going to initially focus on an American-style lager beer before expanding into different kinds of craft products.