Our urban centres thrive with the contributions of small business owners. Whether you’re an artist or an entrepreneur, a woodworker or a culinary master, there’s a place for you in our community.
With our convenient and central location, affordable real estate, and competitive incentive programs, the future is looking bright in the Town of Essex.
The only thing missing is you!
It is often difficult for startup businesses to get the finances they need. Financial institutions and most government programs require personal equity or guarantees (skin in the game) and a sound business plan.
The Town of Essex has a Community Improvement Plan for Colchester and County Road 50. A Community Improvement Plan offers incentives to help revitalize specific areas as the social, economic and cultural heart of the community. A community improvement plan provides municipal funding incentives to property owners to stimulate physical improvements to commercial buildings, new business activities and residential accommodation in the downtown or qualifying project area. For more information, view our Community Improvement Plan page or contact us.
The Town of Essex has waived development charges for all commercial, institutional, and industrial developments. Charges are also waived partially for the development of affordable housing and apartment rental housing throughout the Town.
Learn more about local development charges by contacting the Planning Department or visiting the development charges page.
The Canada Small Business Financing Program makes it easier for small businesses to get loans from financial institutions by sharing the risk with lenders. The maximum loan amount for a borrower is $1.15 million.
• Up to a maximum of $1,000,000 for term loans for any one borrower, of which no more than $500,000 can be used for purchasing leasehold improvements or improving leased property and purchasing or improving new or used equipment and of that amount, a maximum of $150,000 could be used for intangible assets and working capital costs.
• Up to a maximum of $150,000 for lines of credit.
Financial institutions deliver the program and are solely responsible for approving the loan. For more information download their PDF pamphlet or click here to find a lender near you.
The Essex Community Futures Development Corporation (CFDC) is part of a network of Community Futures Development Corporations across the country. The Essex CFDC is a non-profit organization whose goal is to encourage economic development and create job opportunities within Essex County. They can provide small business loans and assist in other financing arrangements and business strategies. An application package is available on their website.
The Business Development Bank of Canada (BDC) provides business financing and consulting services and can help you access the capital you need to purchase new equipment, technologies or property.
Futurpreneur Canada has a range of programs for youth, new immigrants, and veterans. Programs include Start-up Program, New Comer Program, Spin Master Innovation Fund and the Prince's Operation Entrepreneur Program. They also have a mentoring program to provide expert advice and support.
Employment Insurance (EI) has a program designed for self-employed people. If you run your own business or control more than 40% of your corporation’s voting shares, this program can provide you with access to special benefits as early as 12 months after registering. When you need to take time away from your business to care for yourself, your children or other family members, you could receive financial support of up to 55% of your earnings, up to a maximum amount.
The Southwestern Ontario Development Fund gives money to businesses, municipalities and not-for-profit organizations for economic development in southwestern Ontario. Criteria apply.
The fund supports projects that:
The Funding Matrix is compiled and updated by the regional office of the Ministry of Economic Development, Employment and Infrastructure. It is a comprehensive list of programs available through various government agencies. Programs include employer hiring incentives, tax credits for research and development, funding and financing programs.
Contact our Economic Development Office to obtain a current copy.
Contact Us
Economic Development
Town of Essex, 2610 County Road 12, Essex, Ontario N8M 2X6, T. 519-776-7336 ext 1135
Send email to Economic Development