Business Development Program: Planning
Contact the Program Administrator for additional information. .
The Planning program has 2 purposes:
to support Prince Edward Island farmers who want to analyze their business performance, make strategic decisions, and assess, through business planning, the implications of changes to their businesses.
to enhance farmers’ ability to be more competitive, manage transition, develop risk management strategies, respond to change, and adopt innovation.
Who is eligible?
What kinds of services and business activities are eligible?
a variety of consulting services to address cost control, benchmarking, diversification, marketing, value-added enterprises, human resource planning, financing, development of strategic direction, risk management, succession or other challenges.
business activities include, but are not limited to:
- business plans
- cost of production analysis
- feasibility assessments
- financial assessments
- financial action plans
- marketing plans
- risk management plans
- strategic plans
- succession plans
What funding assistance is available?
- 50% funding, to a maximum of $8,000 over the life of the program, for all assessments and plans, except succession plans, for farmers who have completed the Business Development Program: Self-Assessment program.
- 50% funding, to a maximum of $15,000 over the life of the program, for succession plans for farmers who have completed the Business Development Program: Self-Assessment program.
- 100% funding, to a maximum of $2,500 over the life of the program, for those who have not completed the Business Development Program: Self-Assessment program.
- 60% funding, for group applications (two or more farming entities submitting an application for one project), to a maximum of $20,000 for two farming entities and to a maximum of $30,000 for three or more farming entities.
What are the project requirements?
- All types of plans must include a written report from the consultant (minimum of 1,000 words) providing a qualitative interpretation of the plan, comments, considerations and recommendations.
- There will be a minimum of two face-to-face meetings between the participant and the consultant. These meetings are considered to be important components of the program.
- The purpose of the first meeting will be to gather information, where the participant provides to the consultant a description of the existing farm business with up-to-date detailed financial statements, as well as a complete description of the plans being considered or the challenges being addressed. The onus is on the participant to ensure the consultant fully understands what undertaking the participant wishes to initiate.
- The purpose of the second meeting will focus on reviewing the plans prepared. The onus is on the consultant to ensure the participant fully understands the plan and its implications.
How do I apply?
- Participants are responsible to select a qualified consultant of their choice, and must provide, with their application, the consultant’s resume, the proposal from the consultant and the signed conflict of interest declaration
- Submit the completed, signed Planning application form
How do I submit a claim?
To be reimbursed, applicants must submit a claim form to the Prince Edward Island Department of Agriculture and Fisheries with invoices and proof of payment, consultant’s report and a program evaluation.
Forward completed application and claim forms to:
PEI Department of Agriculture and Fisheries
11 Kent Street, P.O. Box 2000
Charlottetown, PE C1A 7N8
Attention: Lynda MacSwain
When does the program end?
This program is effective April 1, 2013 and will terminate on March 31, 2018. This program may be altered or discontinued without notice by the Minister of Agriculture and Fisheries.
- Membership in good standing of a recognized professional association or have related post-secondary education and have completed a course on ethics and professionalism.
- Have experience in preparing similar plans or assessments.
- Provide a minimum of two names and telephone numbers of previous clients who can endorse past work of a similar nature
- a statement of work that clearly demonstrates the process that will be undertaken
- a list of tasks to be completed
- a start and an end date for the project
- a list of deliverables and the hours of work required
- cost, including a payment schedule