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Frequently Asked Questions (FAQ)
- What do I need to know to start a business?
- How do I start my own business?
- What permits/licences do I have to get to start a business?
- IBRD Information
- How long will it take for you to respond to my application to a program?
- What is a regional economic development board?
- What is the difference between the Rural Secretariat and the Department of Innovation, Business and Rural Development?
- What is the difference between the Atlantic Canada Opportunities Agency (ACOA) and the Department of Innovation, Business and Rural Development?
- Can you help me get my trade papers updated?
- Does your department provide information for trades people about apprenticeship and certification?
- What do all those terms stand for?
Starting a business
1. What do I need to know to start a business?
That depends on your experience and the sort of business, location and market, and many other factors. Please contact one of our front line staff. We provide free, confidential business counseling. And if we don’t have the answers you need, we can provide advice and information to help you make good decisions.
2. How do I start my own business?
Well, it can be hard to know where to start. We’ve prepared a free guidebook, the Steps to Starting a Business Document which covers the basics for business start-up in Newfoundland and Labrador.
3. What permits/licences do I have to get to start a business?
That will vary by the type of business. To get a business or GST number, register as a corporation or get permits required for specific businesses, contact your local Government Service Centre If you’re not sure what permits you might need, contact the Business Service Centre,
they provide guidelines and information.
they provide guidelines and information.4. IBRD information
- Do I qualify for IBRD assistance?
- Do you offer grants?
- What kinds of businesses do you fund?
We get asked these questions a lot. The answer is always, it depends. What we’d like to do, is have you talk to one of our front line staff, get to know a little more about you and your plans and then we can provide specific, current answers.
5. How long will it take for you to respond to my application to a program?
We will acknowledge your application promptly, but the time to approve or take action on your application will depend on whether the supporting documentation is complete, and whether we need additional information to complete our review.
6. What is a regional economic development board?
Regional economic development boards were created in the mid-1990’s to coordinate regional economic development planning and activities in each of 20 economic zones. They are locally elected Boards, co-funded by ACOA and the Government of Labrador.
Please see the following pages:
Please see the following pages:
7. What is the difference between the Rural Secretariat and the Department of Innovation, Business and Rural Development?
The Department of Innovation, Business and Rural Development is a department of the Government of Newfoundland and Labrador. The Department operates five lines of business in support of regional development and economic diversification:
- Small and Medium-sized Enterprise (SME) Development
- Industrial Diversification
- Innovation
- Investment
- Economic Intelligence
These are delivered through 23 offices throughout the province:
The Rural Secretariat is part of the Executive Council of the Government of Newfoundland and Labrador. It is a focal point for ensuring collaboration among government departments and with community partners. It has a mandate to link economic, social, cultural and environmental issues to advance the sustainable development of the nine Rural Secretariat Regions.
8. What is the difference between the Atlantic Canada Opportunities Agency (ACOA) and the Department of Innovation, Business and Rural Development?
The Department of Innovation, Business and Rural Development is a department of the Government of Newfoundland and Labrador. The Department operates five lines of business in support of regional development and economic diversification:
- Small and Medium-sized Enterprise (SME) Development
- Industrial Diversification
- Innovation
- Investment
- Economic Intelligence
These are delivered through 23 offices throughout the province:
ACOA is a federal government agency which works to strengthen the Atlantic economy through enterprise development, community development and policy, advocacy and co-ordination. It has offices in each of the four Atlantic provinces.
9. Can you help me get my trade papers updated?
The Department of Education manages apprenticeship and journeyperson certification in Newfoundland and Labrador. Visit the Department of Education Apprenticeship and Certification FAQ for more information.
10. Does your department provide information for trades people about apprenticeship and certification?
Actually, the Department of Education handles this. You can get the answers to most questions at: Department of Education - Apprenticeship and Certification
11. What do all those terms stand for?
If you have more that you would like us to add or explain:
Please send us an e-mail at
Email: itrdinfo@gov.nl.ca
Here’s a list of some of the acronyms and initialisms we use.
| ACOA | Atlantic Canada Opportunities Agency |
| ADIANL | Aerospace and Defense Industry Association of Newfoundland and Labrador |
| BDC | Business Development Bank of Canada |
| BMD | Business and Market Development Program (IBRD) |
| BR&E | Business Retention and Expansion Program (IBRD) |
| CBDC | Community Business Development Corporation |
| CFIB | Canadian Federation of Independent Business |
| CME | Canadian Manufacturers and Exporters |
| CRDS | Comprehensive Regional Diversification Strategy (IBRD) |
| DoB | Department of Business |
| EDGE | Economic Diversification and Growth Enterprises Program (IBRD) |
| GMO | Getting the Message Out Program (IBRD) |
| IBP | Ireland Business Partnerships (IBRD) |
| ICT | Information and Communications Technology |
| IBRD | Innovation, Business and Rural Development |
| IRIF | Industrial Research and Innovation Fund (Research & Development Corporation) |
| LOO | Letter of Offer |
| LSVCC | Labour-Sponsored Venture Capital Corporation |
| MOU | Memorandum of Understanding |
| REDB | Regional Economic Development Board |
| RS | Rural Secretariat |
| RSDF | Regional Sectoral Development Fund (IBRD) |
| SME | Small – and Medium-sized Enterprises |
To Find Out More
For information and assistance, contact the IBRD office nearest you.