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Starting or growing a business?
BDC® Small Business Week is an annual celebration of entrepreneurship and a time to celebrate the hard work, innovation, and resilience of entrepreneurs.
Did you know the City of St. John’s provides a business information service to help entrepreneurs navigate the regulatory process, provide connections to business and financing resources and economic and demographic data? If you're an entrepreneur or someone looking to start or grow your business in St. John's, the Business Information Centre (BIC) has many supports and tools available to you.
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Our Starting a Business in St. John’s guide provides a brief overview of the regulations and permits about starting a business.
The BIC also collects and distributes a variety of economic and statistical information that can be useful for business planning purposes, such as: neighbourhood demographic profiles and annual, mid-year and monthly economic updates.
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The City often partners with community/industry associations to offer information sessions. This year in recognition of Small Business Week, we’re hosting Office Hours with Metro Business Opportunities, a drop-in event to support those who are thinking about starting or growing a business in St. John’s. Metro Business Opportunities will be on hand to provide information about their financing programs, supports and services, including the Newcomer Loan Program. No registration required.
Date: October 22, 2024
Time: 10 a.m. to 12 p.m.
Location: Business Information Centre, 348 Water Street
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Entrepreneurs are encouraged to take advantage of these resources as they contribute to the vibrancy and resilience of the St. John's economy.
Get in touch. We’re here to help. Connect with us: 709-576-8107 or business@stjohns.ca.
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My New St. John's Expo
The My New St. John’s Expo is an opportunity for newcomers to St. John’s to connect with their community, as agencies and organizations come together to help newcomers integrate and feel welcomed. It’s also a great place to meet other newcomers who are sharing similar experiences. The Expo takes place October 24 from 10 a.m. to 5 p.m. at the St. John’s Community Market, 245 Freshwater Road. Admission is free!
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City accepting submissions to art procurement program
The City of St. John’s is now accepting submissions to the Art Procurement Program. Individual visual artists and commercial galleries are invited to submit their artwork for an opportunity to be purchased and included in the City’s Civic Art Collection.
The Civic Art Collection is displayed in City Hall and other municipal buildings, enhancing public spaces and contributing to the city’s cultural landscape.
This year, the total budget for the program is $20,000. All submissions must be sent via email to arts@stjohns.ca and received no later than 4 p.m. on Friday, October 25, 2024.
Click here for further details, including the submission form.
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A boost for new business: Futurpreneur raises loan amounts for young entrepreneurs
Futurpreneur, a national non-profit providing financing and mentoring to aspiring young entrepreneurs (age 18-39), is increasing the maximum loan amount for their Core, Black Entrepreneur Startup, and Indigenous Entrepreneur Startup programs from $60,000 to $75,000. Futurpreneur is also expanding their eligibility criteria to include entrepreneurs who’ve been in business for up to 24 months, doubling the previous limit of 12 months.
For the Enhanced Side Hustle Loan Program, the loan maximum is raised to $25,000 and extending the term to five years, with interest-only payments in the first year. This will provide even more flexibility as they balance growing their businesses with other responsibilities—all with the support of a dedicated mentor. If you know any entrepreneurs who could benefit from these new offerings, please encourage them to apply. For more details, you can read Futurpreneur’s Press Release.
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Health Tech and Bio Tech Ecosystem Action Plan
Following engagement with stakeholders, the Government of Newfoundland and Labrador has released its HealthTech and BioTech Ecosystem Action Plan. The Action Plan presents a vision of a HealthTech/BioTech sector that supports innovative technologies, accelerates access, invests in research and development, enhances coordination and collaboration, and supports companies to develop locally and employ highly qualified people to grow and scale their opportunities globally. The Action Plan will provide a path forward to guide the ongoing growth of this sector in Newfoundland and Labrador.
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ExxonMobil Canada donates $10M to College of the North Atlantic's climate change programs
ExxonMobil Canada has donated $10 million to the College of the North Atlantic (CNA) to go toward their climate change and sustainability programs. The sustainability and climate change programs include training for wind turbine and hydrogen technicians. Both certifications launched last September. Next year, the college will offer training for solar photovoltaic installation. CNA’s vision for its climate change and sustainability programming spans the entire college community, focusing on five core objectives; Teaching and Training, Applied Research, Partnerships, Outreach and Student Activities. Find out more at: cna.nl.ca.
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Government of Canada Business Supports | |
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Promote mental health to boost productivity and safety
Creating a psychologically safe and healthy workplace not only improves employee well-being but also enhances productivity and morale. Explore actionable steps from the Canadian Centre for Occupational Health and Safety to foster a mentally resilient workforce and prevent workplace mental health risks. Find out more: www.ccohs.ca.
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Upcoming Courses and Events | |
We'd love to hear from you | |
Do you have a good business news story to tell? Do you have feedback on what you would like to see covered in our monthly publication? Send your ideas to business@stjohns.ca | |
Latest Economic Indicators
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City building permits October 1, 2024
Commercial permits
Up 16% from $80,762,975 in 2023 to $93,850,702 in 2024
Industrial permits
Valued at $190,000 for 2023 and $5,000,000 for 2024
Government/institutional permits
Up from $6,568,336 in 2023 to $40,113,071 in 2024*
Residential permits
Up 35% to $91,631,068 for 2024 over $67,831,829 for 2023
Repair permits
Down -28% from $1,230,911 in 2023 to $889,406 in 2024
Total value of all permits for 2024
Up 48% to $231,484,247 for 2024 over $156,584,247 for 2023
*This data does not include the full range of permit activity undertaken by the provincial government and Memorial University.
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Business approvals
Cleo, 48 Kenmount Road
Pocket Prints 3D, 430 Topsail Road
Nails Time, 45 Danny Drive
Merfolk Mead, 270 Water Street
Five Guys, 47 Danny Drive
Hickory Farms, 48 Kenmount Road
Ignite Financial Solutions Inc., 23 Beaumont Hamel Way
Home-based businesses
Music lessons, 5 East Meadows Avenue
Hair Salon, 8 Adventure Avenue
SmachnoUA Ukrainian Bakery, 36 Liverpool Avenue
Home office, 77 Ladysmith Drive
Total business approvals for 2024 = 131 (regular = 102 and home-based = 29)
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Labour force characteristics as of September 2024
Labour force – 127,100 (up 1.4%)
Unemployment rate – 6.8% (up 0.2ppts)
Employment – 118,400 (up 1.2%)
Participation rate – 64.8% (down -0.8ppts)
St. John's CMA, seasonally adjusted, three-month moving average. Percentage change reflects the same month previous year. Source: Statistics Canada.
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Economic indicators
The New Housing Price Index for St. John’s Metro was 107.1 in August 2024 (up 0.2%*)
The Consumer Price Index for St. John’s Metro was 162.6 in August 2024 (up 1.7%*)
Retail trade for Newfoundland and Labrador was $1,012 million in July 2024 (up 4.0%*)
*St. John's CMA, same month in the previous year. Source: Statistics Canada
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