The Newfoundland and Labrador Small Business Guide:

A Complete Manual for Establishing and Nurturing a Business in Newfoundland and Labrador

Welcome to your resource for establishing, managing, and growing a small company in Newfoundland and Labrador. The CanadianSME Small Business Hub endeavours to furnish you with the indispensable resources, assistance, and insights necessary for traversing every stage of your entrepreneurial journey. The Newfoundland and Labrador Small Business Guide provides invaluable assistance and counsel to guarantee the prosperity of your enterprise within this vibrant province.

Newfoundland and Labrador Small Business Guide

Newfoundland and Labrador possesses rich resources, coasts and a welcoming entrepreneurial environment. It is an ideal location for startups and small businesses aiming to harness the opportunities provided by its diverse sectors. With a legacy in the fisheries and related industries, Newfoundland and Labrador has been historically a hub of business activities. 

Newfoundland and Labrador’s economy encompasses sectors such as mining, fishing, forestry, natural resources, energy (hydroelectricity), technology, and tourism, offering countless business opportunities. Its strategic Atlantic location offers unique prospects in sectors like forestry, shipping, and fisheries, including offshore oil and gas. In fact, the province boasts of a resource-based economy which is quite strong.

Newfoundland and Labrador’s geographical or physical location makes it advantageous for targeting specific industries, relevant businesses, and markets. This aspect provides access to markets along the North American Atlantic coast and Europe, these markets. It is also why most businesses in the province can access world markets with defining ease compared to their counterparts.

The workforce in Newfoundland and Labrador is characterized by a commitment to education, hands-on experience and training. With regional universities and colleges providing quality education and skill development training, businesses can benefit from a pool of talented professionals found here. In fact, most of the workforce of this province is youth and has Indigenous roots. That’s why they are strong, ethically upright and resilient.

The government of Newfoundland and Labrador diligently fosters a conducive atmosphere for commerce by actively advocating for a business-friendly ecosystem. This is achieved through the implementation of diverse tax incentives, grants, and funding programs, all of which are strategically designed to stimulate growth and foster innovation. The province additionally fosters a burgeoning ecosystem of technology and innovation.

Newfoundland and Labrador province is prominent for its breathtaking coasts and scenic beauty. This province offers an idyllic lifestyle through its affordable cost of living, secure communal conditions, and a diverse assortment of leisurely pursuits—no wonder it is known as the hub for settling after retirement in Canada.

Explore the Best Availabe Resources for​

SMBs and StartUps in Newfoundland and Labrador

The Atlantic Canada Opportunities Agency (ACOA) works to create opportunities for economic growth in Atlantic Canada by helping businesses become more competitive, innovative and productive, by working with diverse communities to develop and diversify local economies and by championing the strengths of Atlantic Canada. Together, with Atlantic Canadians, we are building a stronger economy.
At BDC, we know business owners. We’ve been working with them for more than 75 years. We know their challenges and we understand their needs. And we want them to grow and succeed.
Futurpreneur has been fueling the entrepreneurial passions of Canada’s young enterprise for over two decades. We are the only national, non-profit organization that provides financing, mentoring and support tools to aspiring business owners aged 18-39. Our internationally recognized mentoring program hand matches young entrepreneurs with a business expert from a network of more than 2,600 volunteer mentors.
As Newfoundland and Labrador’s pre-eminent innovation hub, Genesis is known for its flagship incubator program, Enterprise, which began 25 years ago. Since its inception, Genesis has expanded its programming to support start-ups from the ideation stage all the way to scaling their business. Genesis’ mission is to create economic wealth for the province by developing and supporting technology entrepreneurs.
Welcome to NLOWE's LinkedIn page! This page is for and about women in business in Newfoundland and Labrador. The mission of the Newfoundland and Labrador Organization of Women Entrepreneurs is to advance the success of women in business through the provision of programs and services that support all stages of business development.


Welcome to CanadianSME Small Business Hub