Momentum Advisory Professional Services
In collaboration with the Women’s Entrepreneurship Strategy (WES) Fund, PEIBWA is proud to offer Momentum Advisory Professional Services (MAPS) – a WES Advisory Services COVID-19 program. This initiative is supported by the Government of Canada through the Atlantic Canada Opportunities Agency (ACOA).
MAPS offers a non-repayable contribution of up to $10,000 in support access to PEI women business owners affected by COVID-19. MAPS will help them pivot and adapt by contracting external consultants offering advisory services, mentoring, tools, training, and other resources.
All women-owned, for-profit businesses (defined as being at least 51% owned, managed, or controlled by a woman or women), in any sector, currently registered in Prince Edward Island that have been in continuous operation for at least one (1) year (as of April 2020) and are in good standing with the Canada Revenue Agency (CRA) are eligible to apply.
Preference may be given to underrepresented populations including but not limited to indigenous women and women of colour, women in trades and STEAM disciplines, newcomers and women with disabilities, at the discretion of PEIBWA.
Support requests for projects of $5,000 or more must meet the following additional criteria:
i) Operating continuously in PEI for at least two years (as of April 2020) AND
ii) Have earned at least $30,000 in gross sales in 2019
MAPS support is intended to assist businesses in managing the effects of COVID-19 and its impacts. Advisory and professional services aimed at providing momentum will be contracted on behalf of the participating business for projects in the following categories:
A. Business Operations – may include but not limited to how to source funding, private and public sector procurement assistance, human resources advice.
B. Business Transformation - may include but not limited to how to move services/products on-line; advice on responding to current urgencies and priorities of clients; preparedness planning; development of a social distancing measures plan.
C. Recovery Measures – may include but not be limited to re-starting a business; revised business growth plans for post-COVID environment; assistance with retaining/rehiring staff; alternative supply and product development models.
D. Other activities that will support the objectives of the WES Ecosystem Fund.
Please note: Support cannot be used for infrastructure, capital purchases, rent and/or wages.
MAPS will cover 100% of all professional service and advisory costs associated with the project up to $10,000.
While there is no financial contribution required of the client, there is an expectation of a time commitment during project and through the evaluation phase. This time contribution is expected to vary based on the individual project and will be discussed and mutually agreed upon on a case-by-case basis.
Support is limited to professional services and may not be used for the purchase of goods, including personal protective equipment, technology or software licenses.
PEI Registered Business Name and contact details
Financial statements in PDF; 1-2 years (depending on funding request)
Details regarding impact of COVID-19 specific to organization (250 words or less)
Eligible project proposal details (250 words or less)
CLICK HERE to access the online application.
Application will be open until Friday, August 7th, 2020 at 5:00 pm. All submissions received will be reviewed and an agent of the review committee will respond to applicants as soon as possible upon receipt to ensure accuracy of submission.
FOR MORE INFORMATION
Jane L. MacIsaac, Business Development and Membership Officer
email@example.com or 902-892-6040.